Episodes

  • Snowballing $20K Into 11 Rental Properties in Under 4 Years

    Snowballing $20K Into 11 Rental Properties in Under 4 Years
    Sep 30 2024
    Snowballing a $20,000 investment into eleven rental properties…in under four years?! Most investors are happy to add ONE property to their real estate portfolio every year or so, but this rookie wants to get a head start on his ultimate goal—creating enough cash flow to retire him and his wife! Welcome back to the Real Estate Rookie podcast! After years of job hopping, Bryan Field wondered whether settling into a traditional nine-to-five job would ever be in the cards for him. As fate would have it, Bryan stumbled on BiggerPockets at a crossroads in his life, and real estate investing quickly became his new obsession. The only problem? His hometown of San Diego, California was well outside his price range. So, he and his wife took a leap of faith and moved to Arizona, which is where he found his first rental property! In just a few short years, Bryan has had the FULL investing experience—changing investing strategies mid-deal and investing in markets all over the country. Along the way, he has moved to low-cost-of-living areas to save money, rolled home equity into more deals, and found rare off-market properties (seller-financed)! In This Episode We Cover: How Bryan snowballed $20,000 into eleven properties (in under four years) Building your real estate portfolio faster by moving to a low-cost-of-living area How to get your spouse on board with your real estate investing dream Using a HELOC (home equity line of credit) to fund more real estate deals How to pivot to another investing strategy when things don’t go to plan Why you always need an exit strategy whenever you buy a new property And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Buy the Book “Long-Distance Real Estate Investing” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode #452: The Rookie’s Cheat Sheet for Market Research (Find Where to Invest in 2024) Connect with Bryan Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-464 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
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    43 mins
  • The “Lazy” Landlord’s Guide to Finding (And Keeping) Tenants & Raising Rents

    The “Lazy” Landlord’s Guide to Finding (And Keeping) Tenants & Raising Rents
    Sep 27 2024
    Finding, screening, and placing new tenants for your rental property is not only difficult—it’s expensive! Want to attract the best tenants in town and ensure that they stick around for the long haul? You won’t want to miss this episode! Welcome back to the Real Estate Rookie podcast! As the self-proclaimed “lazy investor,” Dion McNeeley wants to have long-term tenants and as little turnover as possible. Today, he’s going to share the tips, tricks, and tactics he uses to keep tenants around for not just months or years but decades. The best part? He’s not doing anything the average investor can’t do. By implementing these same strategies, you can find high-quality residents and reduce turnover! Of course, not every investor can devote twenty hours to their real estate business each week. Fortunately, Dion offers some portfolio-saving advice that will allow you to become a more hands-off investor. You’ll hear about a strategy that will have tenants asking YOU to raise rent, as well as a crucial document that could protect your investment when inheriting tenants. Finally, you’ll learn why retention isn’t always the best option and when to let a tenant go. In This Episode We Cover: How to ensure that your best tenants stay at your rental property long-term How to get tenants to ask for a rent increase with the “binder strategy” The agreement you MUST have in place when inheriting tenants How to properly vet tenants before offering them a lease renewal Retention versus turnover (and when it’s time to let a tenant go) What you should know before raising rents on Section 8 tenants And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group BiggerPockets Lease Agreements by State BiggerPockets Glossary Canva Get Free Property Management Software for Landlords with Hemlane Buy the Book “The Self-Managing Landlord” Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode 369: Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley Connect with Dion Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-463 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
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    44 mins
  • 7 Properties in 10 Years by Turning 1 Home’s Equity Into an Entire Portfolio

    7 Properties in 10 Years by Turning 1 Home’s Equity Into an Entire Portfolio
    Sep 25 2024
    This assistant principal slowly and steadily used home equity to invest, helping him acquire seven properties in just over ten years. These properties have now seen sizable appreciation, and he has hundreds of thousands of dollars in equity, all thanks to taking it slow and making the right moves on the right rental properties. This might be one of the most repeatable paths to wealth out there, and you can copy it to a tee to build wealth, too! James Likis got his start where many rookie investors do—house hacking. Except it started WAY before he was an adult. James remembers his family house hacking as a kid, which prompted him to buy, not rent, as soon as he started looking for his own place to live. After house hacking for years, he saw his equity grow and later used this one property to buy his dream home, which would help him build even MORE equity. James has used this equity-recycling strategy to buy over a million dollars worth of real estate, and it all started from ONE house hack. You can do it, too, and like James, you may begin searching for even more affordable housing markets where your dollar can stretch further. Today, he’s sharing how he used his home equity to grow his real estate portfolio, why he decided to invest out of state, and a specific home renovation loan he used to turn his second property into a fully-renovated, high-appreciating family home! In This Episode We Cover: Why you DON’T need to rush to build a successful rental property portfolio Using home equity to invest and cash-out refinances vs. HELOCs The easiest way to start investing in real estate that rookies should try Home renovation loans and what you MUST know before using an FHA 203(k) loan Why focusing on investing for appreciation (not JUST cash flow) will make you wealthy Long-distance real estate investing and buying in more affordable housing markets And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Invest Out-of-State with “Long-Distance Real Estate Investing” Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! Home Equity: What It Is, How To Calculate, & How To Use It Connect with James Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-462 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
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    44 mins
  • How to Hire a Virtual Assistant for Real Estate Investing for Just $5/Hour w/Valentina Brega

    How to Hire a Virtual Assistant for Real Estate Investing for Just $5/Hour w/Valentina Brega
    Sep 23 2024
    Want to work less, make more, and do it all by spending as little as five dollars per hour? Great! You’ll need to know how to hire a virtual assistant for real estate investing. Doing so can free up hours (or even days) of your time per week, letting someone else, who might have even more experience than you, help grow your business/real estate portfolio while YOU focus on the things YOU do best. Not only that, virtual assistants are often cheaper, faster, and better at tasks you've considered only for full-time employees. We use virtual assistants daily in our real estate businesses and wouldn’t accomplish half as much as we do without them. These crucial team members are so integral to growing your real estate portfolio that we decided we needed an entire episode dedicated to them. So, we brought a former virtual assistant, now leader of HireTrainVA.com, Valentina Brega, to the show to share her advice on vetting, hiring, and training a top-tier (but surprisingly affordable) virtual assistant. Valentina stresses (and we agree) that EVERY rookie real estate investor NEEDS a virtual assistant to scale faster. She'll teach you when the right time to hire one is, exactly how much they cost, what type of work you should delegate out to a virtual assistant, where to find a virtual assistant, and the virtual assistant-vetting checklist you can use to find one who will help take your business to new heights! In This Episode We Cover: How to get the highest return on investment (ROI) from renovations and amenities Converting your short-term rental into a medium-term or long-term rental How to choose the best investing strategy for your market (and when to pivot!) The best exit strategies for a BRRRR (buy, rehab, rent, refinance, repeat) When to use a home equity line of credit (HELOC) versus a cash-out refinance And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Do More as a Rookie with “The Self-Managing Landlord” Property Manager Finder See Ashley and Tony at BPCON2024 in Cancun! Hire a Virtual Assistant for These 21 Tasks (& Supercharge Your Productivity!) Connect with Valentina Be a Real Estate Rookie Guest! Work with Valentina’s Team! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-461 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
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    39 mins
  • Boost Your Rental Returns with These High-ROI Renovations (Rookie Reply)

    Boost Your Rental Returns with These High-ROI Renovations (Rookie Reply)
    Sep 20 2024
    Do you want extra cash flow? Higher appreciation? More bookings? A few high-ROI renovations or new amenities could pay off in a HUGE way. But which projects will give you the best bang for your buck? Stay tuned because we’re sharing some of our favorite additions in this episode! Welcome back to another Rookie Reply! Are you using the wrong investing strategy? Maybe short-term rental regulations are cutting into your revenue, or your long-term rental isn’t cash-flowing. We’ll discuss how to choose the best strategy for your market, when to pivot, and how to flex between multiple strategies for the highest return. Finally, we’ll dive into the BRRRR method (buy, rehab, rent, refinance, repeat) and compare several exit strategies for tapping into your home equity—from cash-out refinancing to DSCR (debt service coverage ratio) loans! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to get the highest return on investment (ROI) from renovations and amenities Converting your short-term rental into a medium-term or long-term rental How to choose the best investing strategy for your market (and when to pivot!) The best exit strategies for a BRRRR (buy, rehab, rent, refinance, repeat) When to use a home equity line of credit (HELOC) versus a cash-out refinance And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Ask Your Question on the BiggerPockets Forums Buy “The Book on Estimating Rehab Costs” Find Investor-Friendly Lenders See Ashley and Tony at BPCON2024 in Cancun! 11 Ways to Increase the Value of Your Home or Investment Property in 2024 (00:00) Intro (00:46) High-ROI Renovations (11:19) Converting Short-Term Rentals (18:18) BRRRR Exit Strategies (27:56) Post Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-460 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
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    35 mins
  • Passive Investing 101: A Passive Path to Profit, Appreciation, & Tax Benefits

    Passive Investing 101: A Passive Path to Profit, Appreciation, & Tax Benefits
    Sep 18 2024
    Visit PassivePockets, your resource for passive investing with syndications. Do you want to get into real estate without managing rentals and dealing with tenants? Passive real estate investing could be the answer. In this episode, we’ll explore an investing strategy that allows you to enjoy all of the profits, appreciation, and tax benefits of real estate investing without the headaches of ownership! Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Jim Pfeifer, host of the new PassivePockets podcast. Like many investors, Jim used to self-manage his rentals, collect rent, and handle typical landlord duties—only to find that he wasn’t very good at it. Even after hiring a property manager, his problems didn’t go away. So, after he’d had enough, he gave up active investing altogether and poured all of his capital into real estate syndications instead. Now, he doesn’t have to worry about clogged toilets or evictions. He just sits back and collects a check! In this episode, you’re going to learn everything you need to know about syndication investing and why it’s the perfect way to diversify your real estate portfolio. Jim will show you how to find and vet a syndicator, leverage your retirement accounts, respond to “capital calls,” and more! In This Episode We Cover: The pros and cons of passive investing versus active investing Why it’s MUCH easier to diversify your portfolio with passive investments Capital calls explained (and what to do when an operator requests funds) How passive investing returns compare to active investing returns Why the tax benefits are often better with passive real estate investments The number one thing you must do when vetting a syndicator How to find more syndication opportunities for non-accredited investors And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Buy the Book “The Hands-Off Investor” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! What Is Passive Real Estate Investing and Is It Right for You? Connect with Jim (00:00) Intro (02:18) Passive Investing 101 (06:40) Pros and Cons of Passive Investing (09:32) What Are Capital Calls? (18:00) Passive Investing Returns (21:48) How to Get Started (28:10) Raising Capital to Invest (32:42) Find Your Community! (34:14) Connect with Jim! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-459 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
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    42 mins
  • The Secret to Scaling Your Real Estate Portfolio That Most Investors Miss w/Kathy & Rich Fettke

    The Secret to Scaling Your Real Estate Portfolio That Most Investors Miss w/Kathy & Rich Fettke
    Sep 16 2024
    One rental property could give you a little cash flow, but if you want to reach financial freedom, quit your nine-to-five, and even retire early, you’ll need to scale your real estate portfolio. This might seem like a daunting task, but in today’s episode, we’ll show you how to go from a novice investor to a wealth-building entrepreneur! Welcome back to the Real Estate Rookie podcast! Off the back of their latest book, Scaling Smart, Kathy and Rich Fettke join the show to share their best secrets for building a sustainable real estate business. Successful investors manage their portfolios like full-fledged businesses, so whether you’re still searching for your first deal or struggling to scale up, we’ll show you all of the systems, processes, teams, and tools you should implement now to prepare for the future. In this episode, you’ll learn the crucial difference between growing and scaling your portfolio, as well as the number one mistake rookies make when attempting to scale. You’ll also hear about some creative ways to fund more deals, and, finally, the keys to a recession-proof investing strategy! In This Episode We Cover: Building a real estate portfolio that supports your long-term investing goals The number one mistake rookies make when scaling (and how to avoid it!) The difference between growing and scaling your real estate business Key systems, processes, and teams to implement in your business today How to set up your business to survive an economic downturn When to make the FIRST hire for your business (and who it should be!) Creative strategies to help you fund more real estate deals And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE On the Market Emergency Preparedness Plan Buy the Book “Good to Great” Buy Kathy & Rich’s New Book “Scaling Smart” Find Investor-Friendly Lenders See Ashley and Tony at BPCON2024 in Cancun! How to Build a Real Estate Portfolio & Quickly Scale Your Investments Connect with Kathy Connect with Rich (00:00) Intro (01:15) Growing vs. Scaling (03:35) First Steps to Scaling Up (11:18) Common Financing Challenges (17:27) Building Systems & Teams (27:01) Hiring the Right People (30:26) How to Survive a Downturn (37:36) Connect with the Fettkes! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-458 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
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    45 mins
  • Rookie Reply: The Best Property Types and Amenities for Short-Term Rentals

    Rookie Reply: The Best Property Types and Amenities for Short-Term Rentals
    Sep 13 2024
    Analyzing Airbnbs is tough, especially for a new investor. Which properties make the best vacation rentals? Which amenities should you prioritize? Do you need an exit strategy if things go south? Stay tuned as we show you how to get the best possible return on your short-term rentals! Welcome back to another Rookie Reply! Leveraging home equity is one of the easiest ways to build and scale a real estate portfolio, and in this episode, we’ll share some creative strategies you can use to tap into this money—without selling your property. Next, we’ll dive into one of the biggest hurdles standing between a rookie and their first rental property—money. If you need outside-of-the-box solutions to help finance your first deal, we’ll show you how to use other people’s money through partnerships, borrow against your 401(k) or brokerage account, or work your business into the deal! Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: The BEST property type and amenities for a short-term rental How to get the highest return on investment from your Airbnb How to pull equity out of a paid-off rental property (without selling it) How to fund your next real estate deal using other people’s money (OPM) Using your 401(k), brokerage account, or business to help finance properties And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Ask Your Question on the BiggerPockets Forums Buy the Book “Real Estate Partnerships” Find Investor-Friendly Lenders See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie - Episode 408: Fundamentals of Funding: How to Find the Right Lender for Your Next Rental (00:00) Intro (00:54) How to Analyze Airbnbs (08:42) Using Home Equity 101 (16:36) Funding Your First Deal (26:49) Post Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-457 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
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    35 mins