Real Estate Rookie

Derek Tellier didn’t start investing in real estate until he was over 40. Unhappy with what was going on in his life, a friend plugged him into healthy eating, exercising, and long-distance running. Once his health was back on track, he realized he didn’t like the trajectory his life was on, and made major changes.That same running friend introduced him to real estate investing. Derek got licensed, joined his friend’s real estate team, and bought his first real estate deal - a cabin that he rents out short-term in the Smoky Mountains.Derek has parlayed that into a career, helping people invest in short term rentals in the Smoky MountainsDerek’s Rookie Deal is a BRRRR property that needed a LOT of work. He financed it using private money and after his rehab he was able to pull out ALL of the money he had into the deal. It even cashflows $350 per month!Derek has had some growing pains along the way, like a true real estate investor. He shares tips for finding contractors, finding lenders, and finding deals in this episode, along with discussing numbers and the importance of having reserves.If you think you waited too late to start investing in real estate, this episode can help change your mindset and show you that it’s never too late to get started.In This Episode We Cover: How a midlife crisis made him start investing in his 40s Buying short-term rentals during COVID How he funds deals using private money His BRRRR strategy How his mentor helped him get 7 deals in 6 months How he got the word out there by starting his own meetup And SO much more! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Podcast Rookie Podcast 23: From Dave Ramsey Disciple to No-Money-Down Real Estate Investor with Sarah Brandenberger Rookie Podcast 19: Going Full-Time as a Rookie Right Out of College With Arvi Carkanji and Dave Arlaud Rookie Podcast 09: Finding Off-Market Deals, Step by Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 1 Rookie Podcast 13: How Drew Pulled 6 Deals From His First Direct Mail Campaign With Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 2 BiggerPockets Podcast 364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery Carl The Short Term Shop Airbnb Uber Vrbo BiggerPockets Podcast 352: No Driver’s License, No Money, No Excuses: How Diego Corzo Blazed a Trail to 18 Doors The Daily Stoic Podcast Ryan Holiday Check the full show notes here: http://biggerpockets.com/rookie26 Learn more about your ad choices. Visit megaphone.fm/adchoices

Here, by popular demand: the Appraisal Episode!Josiah Smelser – podcaster, two-time BiggerPockets Real Estate Podcast guest, and Certified General Appraiser – is here to answer your many questions, and he delivers the goods.We played some questions from the Rookie Request Line and touched on subjects like which data and documents you can provide an appraiser, how to challenge an appraisal, and how to keep your emotions in check when estimating After Repair Value.Whether you're a rookie who plans to flip, BRRRR, or invest in rental properties, understanding how properties are appraised – and the mindset of an appraiser – is key to coming out on top. So enjoy this episode, and tell Josiah what you think in the show notes at biggerpockets.com/rookie25.In This Episode We Cover: Getting inside the mind of an appraiser What information you can and should provide an appraiser The top 3 variables that determine value Approaching the appraisal process with "data and humility" How appraisals vary by market The Sales Comparison Approach vs. the Income Approach Kitchens, bathrooms, and added square footage How doing unpermitted work can come back to bite you Why you should never outright ask an appraiser to come back with a specific number The right way to challenge a low appraisal And SO much more! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Podcast BiggerPockets Podcast 382: No Money Down BRRRR Investing with Josiah Smelser (Part 1, Recorded Pre-Coronavirus) BiggerPockets Podcast 382.5: Surviving When the BRRRR Hits the Fan with Josiah Smelser (Part 2, Post-Coronavirus) CBRE Rookie Podcast 11: Using Home Inspections to Spot “Deal Killers” and Negotiate Better Prices with Rose Buckley USPAP BiggerPockets Glossary Grant Cardone Rookie Podcast 23: From Dave Ramsey Disciple to No-Money-Down Real Estate Investor with Sarah Brandenberger Craigslist Zillow Trulia Instagram Check the full show notes here: http://biggerpockets.com/rookie25 Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's show: how U.S. Army Staff Sgt. Naaman Taylor is combining house hacking, partnerships, and VA loans to build himself a comfy retirement... all while serving his country overseas!This episode has something for everyone – from structuring partnerships to stretch your dollar farther, to hiring property managers and identifying a trustworthy mentor.Be sure to let Naaman (he said we could call him "Taylor") what you thought of the show by visiting our show notes page at biggerpockets.com/rookie24 and leaving a comment... or sharing your thoughts in a post in the Real Estate Rookie Facebook Group.In This Episode We Cover: Planning for a financially secure retirement while working a steady military job How to use VA loans more than once Common mistakes when using a VA loan Duplexes vs. single family homes Overcoming an early bad experience with a tenant Using Dave Ramsey's principles to save money for down payments The advantages of a 50/50 partnership Generating "truly passive income" rather than creating a job for himself How to interview property management companies Taking advantage of the "2 in 5" tax rule with your primary residences How to vet a potential real estate investing mentor And SO much more! Check the full show notes here: https://www.biggerpockets.com/rookie24 Learn more about your ad choices. Visit megaphone.fm/adchoices

Sarah Brandenberger, a real estate investor who transformed from a debt-averse penny pincher to a creative financier, shares insights on portfolio loans, tapping multiple property equity, and home hacking by turning her basement into a rental. She also discusses changing her mindset about good debt, the process of obtaining loans from banks and private individuals, and using checklists to estimate rehab costs. Tune in to learn from Sarah's journey and gain valuable tips for real estate investing.

Ruben Galindo, a full-time highway patrolman, shares his strategies for managing a rental portfolio in limited free time. He discusses using Cozy and Docusign for virtual property management, how door knocking led to a great deal, and leveraging his 401(k). Ruben also shares his experience with buying foreclosures, helping sellers avoid foreclosure, and building a network of contractors. Discover valuable tips from a relative rookie with five rentals on autopilot.

Rookie FAQ time!Today Ashley and Felipe run through the top 5 questions from the Real Estate Rookie Facebook Group and the Rookie Request Line (leave us a voicemail at 1-888-5-ROOKIE).From finding and financing deals to the infamous LLC question and beyond, our co-hosts offer their advice and discuss various approaches new investors can use to build momentum. Plus, former BiggerPockets Real Estate Podcast guest Whitney Hutten makes a cameo to offer her two cents on how to properly vet turnkey providers.What did we miss? Let us know, and make sure you're subscribed to the show so you won't miss an episode.In This Episode We Cover: Various approaches to financing a deal Methods for finding deals when you're new to the game The one question you should ask every turnkey company (you probably haven't thought of it) Owning property an in LLC How to decide whether to get your real estate license And SO much more! Links from the Show Real Estate Rookie Facebook Group BiggerPockets Podcast BiggerPockets Calculators BiggerPockets Forums Facebook Marketplace Craigslist Rookie Podcast 09: Finding Off-Market Deals, Step by Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 1 Rookie Podcast 13: How Drew Pulled 6 Deals From His First Direct Mail Campaign With Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 2 Ryan Dossey's Instagram BiggerPockets Podcast 340: How a Mom with a Full-Time Job Bought 10 Houses Her First Year with Whitney Hutten  Check the full show notes here: http://biggerpockets.com/rookie21 Learn more about your ad choices. Visit megaphone.fm/adchoices

Charlie Ashley, a Lexington, KY investor, shares how he uses lines of credit and construction loans to build his portfolio while working full-time. Topics include his year-long education phase, his first couple deals, and the expensive lessons he learned while renovating a property. They also discuss the importance of understanding financing, leveraging credit cards, and setting investment goals. Plus, they emphasize the value of learning from mistakes, finding a mentor, and gaining hands-on experience with distressed properties.

In today's episode, you'll meet a power couple who both immigrated to the U.S. seven years ago and soon decided real estate would be their path to financial freedom.Arvi Carkanji and Dave Arlaud are Nashville-based flipper-investors, who are dividing and conquering to run a successful business while building a stable of rental properties. Arvi handles acquisitions (listen for the Rookie Request Line about direct mail), while Dave is a licensed contractor who takes charge of construction.Together they walk us through their approach to renovating houses and working with subcontractors and dive into the deal that motivated Arvi to quit her first (and quite possibly last) "real job."If you're thinking about taking on "value-add" projects—and you probably should be—listen close to hear these two rookies walk us through their process!In This Episode We Cover: How Arvi and Dave wound up as real estate investors just a year out of college How they work with contractors, step by step Dave's "25-25-50" payment plan for contractors The different stages involved in renovating a house Red flags to look for when inspecting work Due diligence and permits Transforming a single-family home into a duplex Raising private money as a newbie Renting staging furniture from companies like Rent-A-Center And SO much more! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Podcast Rookie Podcast 09: Finding Off-Market Deals, Step by Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 1 Rookie Podcast 13: How Drew Pulled 6 Deals From His First Direct Mail Campaign With Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 2 BiggerPockets Forums Rent-A-Center Rookie Podcast 15: 5 Steps to Reach Financial Freedom in 15 Years Through Long-Distance Investing With Elyse Rasmussen Rookie Podcast 17: 3 Rentals in His First Year & the Power of a Real-Life 'Rich Dad' Mentor with Derrick Ziglar Jr. Check the full show notes here: https://www.biggerpockets.com/rookie19 Learn more about your ad choices. Visit megaphone.fm/adchoices

Tricia Baxter, a real estate rookie who started investing in her mid-40s, shares tips on self-managing your first property, financing deals creatively, and the importance of multiple income streams. She discusses buying long-term rentals in a touristy area and finding great vendors through private Facebook groups. Tricia also provides insights on handling below-market rents and juggling real estate with a demanding career.

From humble beginnings... to Division 1 football, military service, and now three rental properties in his 20s!Derrick Ziglar Jr. is a man on a mission, and today he shares how he converted a wrong turn into a $30K duplex purchase that kick-started his journey toward generational wealth.If you're interested in securing your financial future, then don't miss Derrick's tips on how he finds deals, how he uses a personal line of credit, and the lessons he's learned about managing contractors.Plus, we go in-depth on how he built a life-changing relationship with a mentor/father figure and the importance of casting a long-term vision for your real estate business—no matter your goals.Derrick is an impressive rookie investor, and he doesn't hold back in this one... so hit play now. And if you enjoy this episode, please leave us a rating and review in Apple Podcasts!Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Podcast Zillow Redfin Audible The Biggerpockets Magazine Rookie Podcast 15: 5 Steps to Reach Financial Freedom in 15 Years Through Long-Distance Investing With Elyse Rasmussen Robert Kiyosaki Grant Cardone Check the full show notes here: http://biggerpockets.com/rookie17 Learn more about your ad choices. Visit megaphone.fm/adchoices