Real Estate Rookie BiggerPockets

Private money is a “secret weapon” for real estate investing, allowing you to dodge the major banks and fund real estate deals on your terms. But just how easy is it to get this type of funding? The answer might surprise you. You don’t want to miss this masterclass on direct lending!
 
Welcome back to the Real Estate Rookie podcast! Concluding our three-part miniseries on the fundamentals of funding, we’re diving into direct lending with investor and fellow BiggerPockets host Henry Washington. In this episode, he covers the different types of direct lending options that are available to new investors—including private money and hard money—and discusses the many reasons why he uses them to build his own real estate portfolio!
 
Unfortunately, too many investors adopt a scarcity mindset and throw themselves at the mercy of any big bank that might finance their deals. Henry’s about to prove why lenders need YOU more than you might think and teach you how to craft the perfect private lending pitch from that position! He also shows you how to properly vet a lender and shares what you can do today to build relationships with the smaller lenders in your community!

In This Episode We Cover
How to obtain private money and get funding on your terms
Why lenders need YOU just as much (if not more) than you need them
Hard money versus private money (and which type of loan is right for you!)
How to properly vet a lender before giving them your business
How to craft the perfect pitch to a private money lender
The BEST ways to build relationships with smaller, local lenders
And So Much More!

(00:00) Intro
(01:17) What Is Direct Lending?
(05:53) Building Relationships
(11:55) How to Vet a Lender
(20:17) Working with Private Money
(28:14) The Perfect Private Money “Pitch”
(33:59) What If You Can’t Pay?
(40:00) Connect with Henry!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-410
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Knowing how to get a mortgage is a crucial step in your journey to buy a rental property. Of course, the money side of things can be intimidating. How do you find a lender? What type of mortgage do you need? When should you get a preapproval? You likely have all sorts of questions…and we have answers!
Welcome back to the Real Estate Rookie podcast! In part two of our fundamentals of funding miniseries, certified mortgage advisor Jeff Welgan joins the show to share his lending expertise and equip rookies with some golden financing tips. In this episode, he debunks some of the most common misconceptions about real estate lending and shares some of the biggest red flags to watch out for in a lender.
But that’s not all. Jeff will show you an EASY way to build an entire portfolio with very little money—a lesser-known strategy that allows you to use down payment assistance programs and first-time home buyer loans to your advantage. Jeff also talks about the biggest differences between conventional and non-conventional loans, what to expect during the underwriting process, and where he expects mortgage rates to be in the not-so-distant future!
In This Episode We Cover:
The EASY way to build your rental portfolio with low money
The mortgage approval timeline and what to expect during the underwriting process
How to get 100% financing (or more!) with down payment assistance programs
The biggest red flags to watch for in a lender (and key questions to ask!)
How to get a first-time home buyer loan (even if it’s NOT your first property!)
The most common misconceptions surrounding real estate lending
Conventional loans versus non-conventional loans (and which one YOU need)
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Get Tips, Advice, & Support in the BiggerPockets Forums
Join the Real Estate Rookie Bootcamp
Grab the BiggerPockets Investing Books
Property Manager Finder
Real Estate Rookie 408 – Fundamentals of Funding: How to Find the Right Lender for Your Next Rental w/Joe Coleman
BiggerPockets Real Estate 939 – BiggerNews: 100% Financing for First-Time Home Buyers is HERE
BiggerPockets Real Estate 943 – BiggerNews: Can’t Qualify for Another Mortgage? Try THESE Investor Loans w/Jeff Welgan
Connect with Jeff:
Jeff's BiggerPockets Profile

(00:00) Intro
(01:09) Funding Challenges & Lender Red Flags
(07:00)) Common Financing Misconceptions
(12:10) Kicking Off the Lending Process
(17:26) Getting a Loan with an LLC
(22:50) The Lending Timeline & Credit Pulls
(28:48) Mortgage Underwriting 101
(35:23) Conventional vs. Non-Conventional Loans
(41:30) Where Are Mortgage Rates Headed?
(46:54) Connect with Jeff!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-409
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com 
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Financing rental properties is a common roadblock that prevents many rookies from investing in real estate, but finding a great lender doesn’t have to be difficult! We’ve got some timely tips, tricks, and tools that will make funding ALL of your real estate deals easier than ever!

Welcome back to the Real Estate Rookie podcast! Today, we’re bringing you part one of a three-part miniseries on the fundamentals of funding. We’re joined by investor concierge at BiggerPockets, Joe Coleman, who shares some of his best advice for financing your first (or next!) rental property. In this episode, he peels back the curtain to reveal some of the nuances of financing—including when to start engaging lenders while analyzing rental properties and how to find an investor-friendly lender.

Wish you could compare several loans at once? Joe shares a powerful tool that will help you do just that. He also talks about the differences between consumer-purpose and business-purpose loans and why you should be familiar with the different types of lenders and loan products that are available. Finally, stick around until the end to learn about the ONE question your lender doesn’t want you to ask—one that could help you save thousands of dollars on your investment property!

In This Episode We Cover
How to find funding for your first (or next!) real estate deal
The ONE question you must ask your lender (that will save you a TON of money)
The different types of lenders and loans you NEED to know about
The easiest way to compare multiple lenders at the same time
Why you should know a lender’s source of capital before borrowing from them
Consumer-purpose versus business-purpose loans (and which one YOU need)
And So Much More!

(00:00) Intro
(03:53) WHEN Do You Need a Lender?
(07:26) Common Financing Misconceptions
(11:50) Different Types of Lenders & Loans
(20:08) Loan Requirements & Speaking with Lenders
(28:26) The EASY Way to Compare Lenders
(39:01) Lock In Your Interest Rate!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-408
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com 
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Are you tired of paying someone else’s mortgage? Then you’re in the right place. In today’s show, we’re sharing how to buy a home in 2024, even as a complete beginner, as we walk through a rookie’s step-by-step journey to purchasing his first primary residence, which could also become a rental! If you feel like you’re in the same position and want to be the receiver, not the sender, of monthly rent checks, tune in as we walk through how today’s rookie is gearing up to become a first-time homebuyer!

Aaron Mann was tired of renting. After being around real estate investors at his day job, he started to feel like he was missing out. Meanwhile, his wife was reading a slew of BiggerPockets books and told Aaron it was time to look into buying—he agreed! This couple is now beginning their house-hunting journey and has already zeroed in on their strategy, investing area, and what they want to buy. With the help of our own Ashley Kehr in the BiggerPockets Real Estate Rookie Bootcamp, Aaron is set to close on his first home in the near future. Want to get YOUR first rental property or primary residence this year? Tune in and start taking these beginner steps!

Sign up for a BiggerPockets Bootcamp today to get on the path to buying your FIRST or next rental property! 

In This Episode We Cover
How to buy your first home or rental property within the next year!
The “house hacking” strategy that allows you to significantly save on your mortgage payment 
How to save for a down payment and the basics of budgeting for first-time homebuyers
The one program that helps you to find discounted properties in your area
Getting a mortgage and the steps to take to see how much you can afford 
The one zero-percent-down loan that most homebuyers have no idea about 
And So Much More!

(00:00) Intro
(01:26) Deciding to Invest
(07:09) Best Beginner Investing Strategy 
(12:23) Finding Properties 
(13:41) Saving for a Down Payment 
(26:56) Picking a Market 
(29:29) Getting a Mortgage 
(35:04) Join the Rookie Bootcamp!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-407
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com 
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What goes into a commercial real estate deal? You’re about to find out! Fortunately, buying one of these properties isn’t quite the jump from residential real estate as you might expect it to be. Whether you’re a new investor or own several rentals, YOU, too, can buy a commercial property!

Welcome back to the Real Estate Rookie podcast! A few months back, we chatted with Tony about his new thirteen-unit hotel in Utah. Since then, the hotel has officially launched, and today, we’re joined by not only Tony but also his wife, Sara, to discuss the ins and outs of this enormous project. With months of planning, rehabbing, and problem-solving in the rearview, they break down the deal from start to finish—sharing some of their biggest successes, as well as some important lessons learned.

If you’re interested in commercial real estate investing, you don’t want to miss this episode! You’ll learn how to create a budget for a large renovation project, choose a model for paying contractors, get better reviews for your short-term rental, and form a seamless partnership with your spouse!

In This Episode We Cover
How the Robinsons planned, rehabbed, and launched a thirteen-unit hotel
Implementing self-check-in convenience on a commercial property
How to create a watertight budget for a large renovation project
Effective strategies for managing and paying your contractors
How to divvy up responsibilities when investing with your spouse
How to get MORE bookings (and keep your property occupied year-round!)
And So Much More!

(00:00) Intro
(02:43) Managing & Paying Contractors
(09:43) Numbers on the Hotel
(15:37) HUGE Lessons Learned
(18:49) Self-Check-In Challenges
(25:11) Building a Team & Getting Reviews
(28:41) Working with Your Spouse
(35:17) Connect with the Robinsons!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-406
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com 
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MANY people invest in real estate for financial freedom. Unfortunately, not all investors get there. The truth is that a little cash flow won’t allow you to quit your W2 job or support an early retirement. You need a LOT of cash flow, or you need a bigger portfolio!
Welcome back to the Real Estate Rookie podcast! With two college degrees and a successful career, Dan Marklin had what many people envy in life. But one day, after realizing that the top rung of the corporate ladder wasn’t as glamorous as it seemed, he began to dream of something more—a job that would afford him total financial freedom and allow him to spend more time with loved ones. It wasn’t long before Dan had dived headfirst into the world of real estate investing, buying his very first rental property.
In this episode, Dan will show you the method he used to scale his portfolio from zero units to over ninety doors in just THREE years! Along the way, you’ll learn the differences between cash flow, cash-on-cash return, and an even MORE important data point to consider when analyzing rental properties. But that’s not all. Dan spares no detail when recalling one of his real estate horror stories and shares how YOU can overcome the challenges of multifamily property investing!

In This Episode We Cover:
How to achieve financial freedom by investing in real estate
Why YOU should start investing in small multifamily in 2024
Cash flow, cash-on-cash return, and internal rate of return explained
The MOST important data point to consider when analyzing properties
How to scale your portfolio WITHOUT sacrificing time or cash flow
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Get Tips, Advice, & Support in the BiggerPockets Forums
Analyze Your Rental Property with the BiggerPockets Calculator
Real Estate Rookie 346 – The Multifamily Investing Masterclass: How to Get Started in 2024
BiggerPockets Real Estate 496 – Become a (Small) Multifamily Millionaire in 7 Steps w/ Brian Murray and Brandon Turner
Books Mentioned in This Episode:
Buy, Rehab, Rent, Refinance, Repeat by David Greene
The Book on Managing Rental Properties by Brandon & Heather Turner
Connect with Dan:
Dan's BiggerPockets Profile
Dan's Instagram Profile
Dan's Facebook Profile

(00:00) Intro
(01:05) The Journey to Financial Freedom
(07:55) EASY First Steps
(13:02) How to Analyze Rentals
(19:52) Buying the First Property
(23:45) Dan’s “Horror” Deal
(33:14) Finishing the Rehab & Scaling
(39:38) Connect with Dan!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-405
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