Real Estate Rookie BiggerPockets

Not quite ready to invest in real estate? Maybe you’re still getting your finances in check or saving for a bigger down payment. In any case, don’t sit on your hands! While you wait, there are plenty of things you can do to become a more knowledgeable investor and prepare for your first deal!

Welcome back to another Rookie Reply! Today’s episode is jam-packed with essential tips for those who are just starting out. First, what market should you invest in? Ashley and Tony will show you how to identify up-and-coming neighborhoods before they explode! Most investors will also need to furnish a short-term rental or renovate a distressed property at some point in their journey. We’ll show you a hack that could help you save thousands of dollars when buying materials, furniture, and décor. At what point should you hire a bookkeeper? Can you manage your own books? Tune in for a few real estate accounting tips!

Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!

In This Episode We Cover
What EVERY rookie must learn before investing in real estate
How to save thousands of dollars when furnishing (or renovating) your rentals
When to hire a bookkeeper for your real estate business (and how to do it yourself!)
How to analyze a market and niche down on up-and-coming neighborhoods
Required reading for new investors (and the best skills to learn!)
And So Much More!

(00:00) Intro
(00:49) Do I Need a Bookkeeper?
(06:43) Finding Up-and-Coming Neighborhoods
(12:48) The BEST Way to Fund Your Projects
(20:48) What to Know BEFORE You Invest
(30:18) Send Us Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-437
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Owning rentals could help you become financially free, afford you more time with family, and allow you to travel the world. Whether you’re stuck in a career you dislike or you need a more flexible job, you’re about to learn that real estate investing could be your golden ticket!
 
Welcome back to the Real Estate Rookie podcast! Despite earning six-figure salaries as engineers, Emily Love and her husband were stressed, exhausted, and dissatisfied at their nine-to-five jobs. So, with the goal of one day trading their W2s for financial freedom, they set out to buy their first rental property. Little did they know that ONE deal would quickly snowball into a real estate portfolio with twelve doors—allowing them to leave their engineering careers behind and replace their income with a concoction of cash flow from rentals, co-hosting, and consulting!
 
Do you dream of leaving your job and becoming a full-time real estate investor? You won’t want to miss this episode! Emily shares how she reverse-engineered her cost-of-living number to set clear investing goals, used the profits from her first property to build her portfolio, and created multiple streams of income in her real estate business!

In This Episode We Cover
How Emily and her husband replaced TWO six-figure salaries with real estate
Why your FIRST real estate deal is so important for achieving your investing goals
How to scale a portfolio that allows you to leave your nine-to-five job
Reverse-engineering your cost-of-living figure to find your investing strategy
How to start (and scale!) your own co-hosting business from scratch
The BEST ways to find high-quality contractors for your renovation projects
How to extract multiple income streams from your real estate business
And So Much More!

(00:00) Intro
(00:48) Life Before Real Estate
(07:31) Current Portfolio & First Deal
(15:16) “Snowballing” with Rentals
(21:28) Leaving Her W2 Job
(26:58) Creating Other Income Streams
(34:59) How to Start Today!
(36:54) Connect with Emily!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-436
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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If you’re holding out for the “perfect” deal, you’ll always be on the sidelines. Today’s guests weren’t afraid to take on a challenge with their first rental property, and it paid HUGE dividends. Not even an expensive market or extensive rehab could stop them from making money and reaching their investing goals!
 
Welcome back to the Real Estate Rookie podcast! Noreen and Derek Eddy are a real estate investing power couple who took a big risk with their first deal—a distressed, multifamily property that had recently been foreclosed on. To make matters worse, they were forced to turn their renovation project into a live-in flip once their contractor didn’t hold up his end of the bargain. Rather than straining their relationship, this DIY project brought them closer together, and today, the property’s revenue covers most of their mortgage!
 
In this episode, you’ll learn all about the low-money-down loan you can use to finance your property and renovation costs, as well as a lesser-known strategy you can use to find rare deals in a competitive market. Finally, Noreen and Derek will offer advice on dealing with tenants and how to get along while living under the same roof!

In This Episode We Cover
Whether you should buy a multifamily property as your FIRST investment
203(k) loans explained, their pros and cons, and when to get one
How to cover your mortgage using the house hacking strategy
Finding rare deals outside of the multiple listings service (MLS)
How to become a landlord and what to include in your lease agreements
Why tenant placement is the KEY to a successful house hack
And So Much More!

(00:00) Intro
(00:53) Finding a RARE First Deal
(13:07) 203(k) Loans Explained
(18:28) Investing with Your Spouse
(20:46) Numbers on the Property
(25:29) House Hacking with Tenants
(32:38) 2AM Police Visits!?
(39:11) What’s Next for the Eddys?
(42:43) Connect with Noreen & Derek!


Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-435
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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Home renovation projects aren’t cheap, and it’s easy to let your budget spiral out of control if you’re not careful. Fortunately, we have several tips, tricks, and hacks that will help you save a fortune on your rehabs—from finding deals on materials to an investor hack that gives you money back every time you place an order!
 
Welcome back to another Rookie Reply! Are you investing out-of-state? We’ll show you how to find, vet, and manage contractors from miles away in today’s episode. Not sure if you’re ready to buy your next rental property? In this episode, we’ll break down a listener’s financials and help them (and you!) make the right choice. But that’s not all. Perhaps you’ve thought about renting by the room to help cover your mortgage but don’t know whether house hacking is for you. Make sure you listen to Ashley and Tony’s advice before diving in!

Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!

In This Episode We Cover
The BEST places to find materials for your home renovation projects
How to save money on material orders with THIS investor hack
When to buy your NEXT property (and why you always need an exit strategy!)
How to find, vet, and manage contractors when investing out-of-state
What you MUST know before using the rent-by-the-room investing strategy
And So Much More!

(00:00) Intro
(01:01) Rent-By-The-Room Strategy
(08:30) BEST Places to Buy Materials
(16:35) Should I Buy Another Property?
(21:39) Managing Contractors Remotely
(34:32) Send Us Your Question!


Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-434
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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Starting a real estate business is one of the best ways to achieve financial freedom, replace your W2 income, and leave your nine-to-five. Why? Because you don’t need a ton of money OR a rental property to get started. Today’s guest built a million-dollar business with just $150, and in this episode, she provides the blueprint for you to do the same!
 
Brittany Hailey and her husband were living in an expensive market and working low-paying jobs when they were introduced to short-term rentals. They eagerly bought a house and turned their mother-in-law suite into an Airbnb, and right off the bat, this tiny rental skyrocketed to the top of the listings and covered 100% of their monthly mortgage payment. With proof of concept, Brittany decided to launch her own management side hustle with just $150. Little did she know that this fledgling business would soon allow her to quit her W2 job and bring in over $1,000,000 in annual revenue!
 
Ready to launch your own profitable real estate business from scratch, just like Brittany did? Tune in as she shows you how to start a vacation rental management company with little to no money and scale it into a wealth-building machine. Along the way, you’ll learn which services to offer, how to compete with national brands, and how to keep homeowners and guests happy!

In This Episode We Cover
How Brittany started a real estate business with $150 (and grew it to over $1,000,000!)
Covering your entire mortgage payment by converting extra space into rentals
How to create multiple streams of income within your real estate business
The FIRST hire you should make when building your real estate team
The advantages small businesses have over national vacation rental brands
How to keep homeowners and guests happy when managing a short-term rental
And So Much More!

Links from the Show
Join BiggerPockets for FREE 
Join the Real Estate Rookie Facebook Group
Find Investor-Friendly Lenders
Property Manager Finder
See Tony and Ashley at BPCON2024 in Cancun!
Grab Your Copy of “Short-Term Rental, Long-Term Wealth”
Real Estate Rookie - Episode 373: Wiping Out $130K of Debt in ONE Year With THIS “Steady” Real Estate Business with Nicole Rutherford


(00:00) Intro
(00:48) Launching Her Airbnb
(05:22) Leaving Her Nine-to-Five
(12:41) Vacation Rental Management 101
(18:44) What Services Should You Offer?
(23:30) Competing with National Brands
(26:19) Creating Multiple Income Streams
(35:12) How to Build Your Team
(40:52) Over $1 Million in Revenue?!
(44:12) Connect with Brittany!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-433
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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Anyone can buy rentals, whether you have some money to deploy or very little to your name. With seemingly everything working against her, today’s guest managed to buy not one, not two, but THREE properties to support her and her daughter on their journey to financial freedom!

Welcome back to the Real Estate Rookie podcast! Bella and River are a mother-daughter investing duo who, just a few years ago, were facing dire circumstances. In a short amount of time, Bella lost her eyesight, foreclosed on her home, and went through a divorce—leaving her with low income and no immediate way to increase it. But when a family member introduced her to real estate investing and brought her a deal, she jumped at the opportunity. Today, this duo has a small portfolio of three rental properties and five doors!

In this episode, you’ll hear about the unique strategies Bella and River are using to choose their markets, vet contractors, screen tenants, complete home renovations, and manage their portfolio. Stick around until the end to hear how they plan to take down their next property, a short-term rental in Indiana, and achieve financial freedom within the next five years!

In This Episode We Cover
How THIS investing duo built a small real estate portfolio from scratch
Putting no money down on an investment property with seller financing
Creative strategies for vetting contractors and screening tenants
What to do when a rental property isn’t projected to cash flow
How to assemble and manage a team when investing out-of-state
How Bella and River are on track to reach financial freedom in FIVE years
And So Much More!

Links from the Show
Join BiggerPockets for FREE 
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
See Tony and Ashley at BPCON2024 in Cancun!
Real Estate Rookie – Episode 415: $9K/Month Cash Flow, Scaling FAST, & Saving Thousands in Taxes by Doing THIS w/Riley McFarland
Buy the Book on Medium-Term Rentals, “30-Day Stay”


00:00 Intro
00:41 Losing Her Health, Home, & Marriage
04:15 Discovering Real Estate
10:43 Current Portfolio & FIRST Deal
17:32 Building Teams (Out-of-State!)
22:54 Finding New Markets
29:04 How to Vet a Contractor
33:54 How to Vet a Contractor
35:21 Connect with Bella & River!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-432
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices