Real Estate Rookie BiggerPockets

Finding and funding real estate deals are the two biggest obstacles new investors face today. Are these skills preventing you from building your portfolio? You’re in luck. Today’s expert will show you how to find, analyze, and finance deals like the smartest investors do!
 
Welcome back to the Real Estate Rookie podcast! Henry Washington is not only a big-time investor with well over 100 doors but also a fellow podcast host and new author here at BiggerPockets. In anticipation of his upcoming book, Real Estate Deal Maker, he joins the show to discuss the common challenges of finding and funding deals. Henry is bringing you expert tips for all situations, whether you’re trying to pin down your sourcing strategy or find creative ways to buy rental properties.
 
In this episode, Henry will not only explain why finding a rental property is FAR more important than funding it but also share his most effective strategy for sourcing GREAT deals. He also walks you through an initial call with a seller, where you’ll learn how to build trust and present seller financing as a win-win for both sides!

In This Episode We Cover
The two biggest obstacles new investors face (and how to solve them!)
Why finding a deal is FAR more important than funding a deal
How to choose the right strategy for sourcing deals
Seller financing explained and how to build trust with sellers
What you MUST find out about a property during an initial call
How to use seller motivation to help you land a GREAT deal
And So Much More!

00:00 Intro 
00:59 How to FIND Deals
08:51 Henry’s Go-To Sourcing Strategy
13:49 What Makes a “Great” Deal?
20:17 The Motivation to Sell
24:20 Building Trust with Sellers
27:48 How to FUND Deals
34:26 Seller Financing 101
38:16 Connect with Henry!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-416
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Real estate investing and contracting go hand in hand, but not many investors are bold enough to tackle their own home renovations. Today’s guest is, however, and he’s about to show you the business model he uses to create a ton of cash flow, scale his portfolio, and save a fortune on taxes!
 
Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Riley McFarland, who happens to be one of Ashley’s general contractors, as well as an investor closing in on twenty doors. Having grown up around real estate, Riley knew that owning rental properties was one of the best ways to build wealth. But after taking a few contracting jobs, he discovered a knack for home renovations as well. By combining the two, Riley has a thriving business that brings in $9,000 in monthly cash flow and more in tax benefits!
 
In this episode, Riley talks about how he runs his investing-contracting business like a developer and buys MORE rentals in the process. He also shares the best value-adds for boosting equity and why he prefers to buy the “ugliest” rentals he can find. He even gets into the process of estimating rehab costs during an initial walkthrough and leaves you with several crucial questions to ask before hiring a general contractor!

In This Episode We Cover
The benefits of being a general contractor who also invests in real estate
How to turn a HUGE profit by buying, fixing, and flipping “ugly” rentals
Tax advantages of having your own investing/contracting business
How to save a fortune on your rehab projects with DIY home renovations
Key questions to ask when vetting an investor-friendly contractor
The BEST and most affordable value-adds for growing equity
And So Much More!

(00:00) Intro
(00:48) Growing Up with Real Estate
(07:06) Why Investing AND Contracting?
(13:40) Walking Properties & Finding Contractors
(20:30) Project Management 101
(25:54) The BEST Rental Value-Adds
(28:38) Vetting Contractors & DIY
(32:03) Investing Tips for Contractors
(35:42) Connect with Riley!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-415
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Do you dream of building a real estate empire and reaching financial independence but stop short due to the “tenants and toilets” problem? The irony wasn't lost on twenty-nine-year-old Dillon Leonard when a renter accidentally burned the roof off one of his properties. This incident, along with several others, prompted him to explore self-storage investing as a way to escape residential rentals while still allowing him exposure to real estate.

Knowing little to nothing about this often-forgotten segment of the market, Dillon sought expert advice by taking local self-storage owners out for coffee. He soon took action on a 12,000 sq. ft. property for around $300,000 and tripled his investment in a year’s time. Encouraged, he scaled his portfolio over the next three years and now receives approximately $70,000 in gross monthly revenue from 800 units!

Dillon’s self-storage success story has allowed him to build a team and implement systems to run day-to-day operations. Not yet thirty, he now enjoys options that many twice his age wish they had, including potentially retiring from the fire department, spending more time with family, and leaving a property package as a legacy. Tune into this episode to explore the nuts and bolts of the self-storage industry as well as the inspiring mindset realizations that Dillon has experienced in his journey!

In This Episode We Cover
Finding financial freedom by investing in often-overlooked assets (like self-storage!) 
The exact method Dillon used to find the most lucrative self-storage properties
How to scale in self-storage using a variety of financing methods
The due diligence practices you MUST utilize to be successful
How to know when hiring a team becomes essential – and how to pull it off
Why an entrepreneurial mindset frees you from financial fear no matter what happens
Why it’s never too soon to start crafting your exit strategy 
And So Much More!

(00:00) Intro
(01:14) Residential Rental Woes
(05:09) Escaping Tenants & Toilets
(07:38) 1st Self-Storage Deal
(10:34) Financing Self-Storage
(12:53) Self-Storage vs. Rentals
(19:13) Growing His Self-Storage Business
(22:47) Time Management Tips & Tricks
(26:04) Scaling through Creative Financing
(27:50) Hitting Financial Freedom!
(31:09) Acquisitions and Due Diligence
(34:55) Systems and Processes
(37:23) Quitting His Job

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-414
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If real estate investing was easy, everyone would be doing it! The truth is that, despite the financial freedom and flexibility it offers, investing is hard work. And it’s even more difficult if you’re working a full-time job or raising a family. But with good time management and a little sacrifice, you can do it!

Welcome back to another Rookie Reply! In today’s episode, we talk about the challenges of juggling a nine-to-five job and investing. We also discuss some of the most important documents you need when creating lease agreements or inheriting tenants. Are BAD neighbors causing headaches and scaring away your best tenants? We have several solutions to this problem—including one that will help you avoid the issue before you commit to buying a rental property: ordering a property survey and setting boundaries!

If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).

In This Episode We Cover
How YOU can make time for real estate investing while working nine-to-five
Three documents you need to be in place when inheriting tenants
How to deal with troublesome neighbors (while buying more rentals!)
Why you MUST include lien prohibition notices in your lease agreements
Why every investor should order a property survey before buying a rental property
And So Much More!

(00:00) Intro
(00:46) Making Time for Real Estate
(07:49) Inheriting Tenants 101
(12:51) Lien Prohibition Notices
(17:21) Dealing with BAD Neighbors
(26:15) Do You Need a Survey?
(31:58) Send Us Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-413
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Want to invest but fear you don’t have enough money to get started? Building a profitable real estate business could be the answer. This strategy allowed today’s guest to not only scale her portfolio but also develop skills to level up her own rental properties AND bring in $600,000/year!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by the “accidental investor,” Terri-Leigh Huleis. Married with three children, Terri and her husband didn’t have enough money to buy a house…or so they thought. After moving from California to a more affordable market, Terri was able to make her dream of homeownership a reality. Little did she know that this was just the beginning of her real estate journey. It wasn’t long before Terri had turned her passion for interior design into a $600,000/year business—one that has allowed her and her husband to scale in very little time!

After being diagnosed with a brain tumor in 2016, Terri lives every day as if it’s her last. This self-starter’s story is filled with all kinds of helpful nuggets you can use on your own journey—from finding creative ways to fund home renovation projects to setting up an Airbnb in four weeks or less. Stick around until the end to hear about the top amenities you’ll want to add to your short-term rental in 2024!

In This Episode We Cover
How Terri grew an interior design business that pulls in $600,000 per year
Using credit card rewards to fund an ENTIRE home renovation project
How to start a business that allows you to buy even MORE real estate
Landing your first interior design clients (even if you don’t have a portfolio!)
How to design an Airbnb, step by step, in just four weeks or less
The hottest amenities to add to your short-term rental in 2024
And So Much More!

(00:00) Intro
(00:42) Buying Their First House
(09:52) Starting an Interior Design Business
(18:18) Making $600K/Year?!
(26:43) Short-Term Rental Design 101
(35:24) Money-Making Airbnb Tips
(38:12) Connect with Terri!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-412
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If you’re willing to get your hands dirty, new builds and home renovations can deliver a HUGE return on investment (ROI). Just ask today’s guest! After passing up on a deal that became a cash cow for another investor, he decided to put an end to his analysis paralysis, earn his general contracting license, and get right to work!

Today, we’re joined by a former The Bachelorette contestant, NCAA Division I quarterback, and new investor. Despite many years in the spotlight, Tyler Cameron doesn’t plan to escape the public eye just yet—trading a rose for a hammer in his latest show, Going Home with Tyler Cameron. In today’s episode, he discusses his journey into real estate, which began shortly after inheriting his childhood home. Wanting to honor his late mother, Tyler completed several renovations—making his fair share of mistakes along the way. Even with some tough lessons learned, the property rents for a pretty penny, giving him and his brothers another reliable stream of income.

Tune in to learn why Tyler got started in real estate (and why he almost didn’t), what drew him to new construction, and how he has built a three-million-dollar portfolio in only THREE years. He also offers his best short-term rental tips and shares why so many investors are flocking to his hometown of Jupiter, Florida—a growing market where high appreciation is the norm!

In This Episode We Cover
How Tyler built a three-million-dollar portfolio in just THREE years
Why market uncertainty shouldn’t stop you from investing in real estate
The keys to a successful home renovation project or new build
Why new construction might offer you the BEST return on investment (ROI)
Short-term rental tips for new investors (and why the customer is “always right”)
Why MORE investors are buying rental properties in Jupiter, Florida
And So Much More!

(00:00) Intro
(01:02) Renovating His Childhood Home
(04:47) $3M in 3 Years?!
(09:29) Life in the Spotlight
(13:42) KEY Lessons Learned
(21:57) Short-Term Rental Tips
(25:38) Investing in Jupiter, Florida
(30:28) New Builds vs. Renovations
(32:38) “Going Home with Tyler Cameron”
(36:08) Connect with Tyler!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-411
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com 
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