Real Estate Rookie

Data wiz, Dave Meyer, and rookie investor, Jamie Gallagher, compare the markets of Cleveland and Columbus in this podcast. They discuss important data points to consider, such as rent-to-price ratio and rent-to-income ratio. The impact of job and population growth on appreciation is explored, along with quality of life factors. They analyze the Cleveland vs. Columbus markets and provide advice for future house hackers. A valuable resource, BPInsights, is also mentioned. Overall, this podcast covers essential market analysis insights for real estate investors.

In 2017, she had done zero deals. Today, she's got 20 units and is nearing her goal of financial freedom by age 45.In this episode, Elyse Rasmussen shares five tips for rookies interested in long-distance investing... although each can easily be applied to investing in your own backyard, too.Check out her Instagram page @investingforfinancialfreedom for some #landlordmemes, and be sure to join the Real Estate Rookie Facebook group to tell us what you think of this episode!In This Episode We Cover: Elyse and her husband's plan to reach financial freedom by age 45 What to look for when choosing a market out of state (climate, natural hazards, tax policies, etc.) Joining a network of long-distance investors to find referrals Finding and vetting a dual property manager/real estate agent Her approach to insurance policies for 19 properties Buying properties at online auction, step by step And SO much more! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Podcast How to Buy Real Estate & Build Your Portfolio Fast! ("The Stack!") Marshall Reddick BiggerPockets Glossary BiggerPockets Guest National REIA Meetup App BiggerPockets Events and Happenings Brandon Turner's BiggerPockets Profile Auction.com Xome Cashflow Quadrant Check the full show notes here: http://biggerpockets.com/rookie15 Learn more about your ad choices. Visit megaphone.fm/adchoices

The guest, Robert Leonard, shares his tips on building a rental portfolio while working full-time. The four keys he discusses include using house hacks to lower expenses, finding a great real estate agent, partnering with someone else, and investing out-of-state. He explains how these strategies helped him overcome analysis paralysis and achieve financial freedom.

Everything you've ever wanted to know about direct-to-homeowner marketing... but may have been afraid to ask!From exactly what Drew writes in a letter, to how he builds rapport when running an appointment, to making offers and getting to the closing table, it's all here in plain English.This episode follows up on show #9, where mentor/mentee duo Ryan Dossey and Drew Wiard broke down how Drew built a brand and zeroed in on his target market. Today, they walk us through everything that happens after a lead comes in, including how Drew was able to close three deals and get three more under contract in the past three months—despite the pandemic.If you're tired of seeing all the good deals go to other investors, take matters into your own hands and put some of their tips into action! And be sure to subscribe to Real Estate Rookie in your favorite podcast app so you won't miss the next one.In This Episode We Cover: Drew's results from his first direct mail campaign Marketing to an "absentee owners with equity" list Keeping your marketing message simple Why Drew's letters don't acknowledge the homeowner's hardship Why response rate is the wrong metric to focus on Using "75% of ARV minus repairs" to formulate offers Overcoming objections when you're negotiating a price Putting an inspection period in your contract Finding real estate agents who work with cash buyers Drew and Ryan's personal real estate investing MVPs And SO much more! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram Rookie Podcast 09: Finding Off-Market Deals, Step by Step with Ryan Dossey (Mentor) and Drew Wiard (Mentee)—Part 1 Rookie Podcast 12: What Works (and Doesn’t) in a Recession & the Untold Story of J Scott’s Messy First Flip Rookie Podcast 11: Using Home Inspections to Spot “Deal Killers” and Negotiate Better Prices with Rose Buckley Build The BEST Cash Buyers List In 2020 (Ryan's Video) PropStream REsimpli  Check the full show notes here: http://biggerpockets.com/rookie13 Learn more about your ad choices. Visit megaphone.fm/adchoices

BiggerPockets legend J Scott was once a rookie, and he's got the stories (and scars) to prove it!Today J stops by to give us a primer on economic cycles and how they impact real estate investors. You'll learn what to expect when housing prices soften and which strategies work best in each economic phase. Plus, J shares the tale of his first (years-long) flip, tells us what he's learned along the way, and delivers a surprising top tip for today's rookie real estate investor.For more on this topic, pick up a copy of J's newly updated book Recession-Proof Real Estate Investing here.In This Episode We Cover: Economic cycles throughout history Which strategies tend to work well at each point in the cycle J's first flip as a complete newbie The systems he developed over the years How he's shoring up his cash position Opening credit lines Adjusting to a new lending environment And SO much more! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Business Podcast BiggerPockets Real Estate Podcast BiggerPockets Bookstore BiggerPockets Forums BiggerPockets Blogs BiggerPockets Podcast 381: 5 Rules for Investing in a Down Market with Tucker Merrihew Rookie Podcast 07: 6 Things New Investors Should Be Doing Right Now Brandon's BiggerPockets Profile Felipe's Instagram Ashley's Instagram Check the full show notes here: http://biggerpockets.com/rookie12 Learn more about your ad choices. Visit megaphone.fm/adchoices

OK, you've got a property under contract. Now the real work begins!In today's episode, you'll learn all about about a crucial step in the home-buying process: home inspections.Find out how they work, how much they cost, and how they could wind up saving you a boatload of cash—or help you negotiate a sweet deal!Rose Buckley is a certified home inspector who has walked 1,000-plus homes. And with her background in teaching and translating, she enjoys breaking down this part of the business for up-and-coming investors.Rose shares her tips for finding a great local inspector and reveals which defects are no biggie, which are challenging, and which ones can be "deal killers."And yes. We, too, noticed Rose is a female in a male-dominated profession. That led to a great discussion about how she approaches that challenge, how sometimes it's actually an opportunity, and why training as a home inspector—regardless of your gender—may get you closer to your investing goals.Subscribe to Real Estate Rookie in your favorite podcast app, and if you enjoyed this episode, please pass it on to just ONE friend or family member who might, too.In This Episode We Cover: What makes a great home inspector Using an inspection report in price negotiations The most common issues Rose runs into Why water is the real estate investor's No. 1 enemy The time she spent 8 hours inspecting a single house How to spot sloppy work in a house that's been flipped Termite and pest infestations GFCI outlets in bathrooms and kitchens Rose's experience as a female in a male-dominated industry How becoming a licensed inspector could make you a savvier investor And SO much more! Links from the Show Real Estate Rookie Facebook Group BiggerPockets Podcast HTTV - TV Felipe's Instagram Ashley's Instagram Summer Maintenance Checklist Fall Maintenance Checklist Winter Maintenance Checklist Spring Maintenance Checklist Rose in T-Rex Costume (Video) Rose's Inspector Story Time (Video) Check the full show notes here: http://biggerpockets.com/rookie11 Learn more about your ad choices. Visit megaphone.fm/adchoices

Tony Robinson had every excuse NOT to invest.Expensive local market? Demanding full-time job? Family responsibilities?Check, check, and check.So, how did he pull off his first two deals in a cash flow-friendly market 1,500 miles away?Today, Tony spills the beans: how he got a bank to loan him 100% of purchase AND rehab cost, how he managed contractors from afar, two crucial lessons he learned on his first deal, and much more.Tony shares tip after tip for investors like you—especially if you live in a pricey area (he lives in Southern California and invests in Shreveport, Louisiana).Plus, he dives into the mindset shifts that helped him break through—and how becoming a father at a young age led to a goal of achieving financial independence.We guarantee you'll get value out of this episode. If you agree, subscribe to the show and give us a rating and review in Apple Podcasts. See you next Wednesday!In This Episode We Cover: How Tony got past a failed first deal Zeroing in on one zip code when looking for deals Why he chose to invest in Shreveport, LA How he pulled his money out by refinancing Why real estate is "80% mental" Finding a real estate agent and property manager out-of-state Managing renovations remotely using FaceTime How a local bank funded 100% of his projects How a construction loan works and what "draws" are Analyzing local rents Why he locked in his tenants on a 2-year lease And SO much more! Links from the Show Real Estate Rookie Facebook Group BiggerPockets Podcast Rookie Podcast 08: Why Pay Someone Else’s Mortgage? Ditching $20K/Year Rent with Mallori and Lucas Brandon Turner's Instagram Zillow BiggerPockets Forums Cashflow Game BiggerPockets Conference Check the full show notes here: http://biggerpockets.com/rookie10 Learn more about your ad choices. Visit megaphone.fm/adchoices

Can't find deals on the MLS? Dreaming about off-market deals, but not sure how to go after them?Today's show lays out a step-by-step, repeatable strategy for those of you who have what it takes to approach homeowners directly. It's not easy. It takes patience. And It costs money (or time). But for those precise reasons, it's where the real money is.Today we bring in Drew Wiard, a Fort Wayne, IN investor with a family and a full-time job. He's joined by his mentor, Ryan Dossey, a former BiggerPockets Podcast guest who built his 100+ unit portfolio by creating a pipeline of off-market deals.The guys walk us through how to build a brand that stands out from the competition, how to establish authority online, and how to pull lists full of juicy leads. This is not vague advice... they reveal the exact systems and resources they're using to find and contact sellers (not all of whom fit the "desperate/distressed" stereotype, by the way)!Plus, we have a great conversation about mentoring in general – how to find and vet teachers, how to deliver value, and how to hold one another accountable along the way.This is actually Part 1 in a series; we're going to invite Drew and Ryan back next month to tackle the second piece of this puzzle: handling leads, negotiating with sellers, and crafting your exit strategy.If you think you have what it takes to find off-market deals, this episode is a perfect starting point. Be sure to subscribe to the show in your favorite app, and we'll see you next Wednesday!In This Episode We Cover: Building a local community-oriented brand when marketing to sellers How to differentiate yourself from other "We Buy Houses" competitors Setting up a Carrot website Creating a web presence to build authority How to identify the hottest zip codes in your area Building "niche" marketing lists using online public records How to generate off-market leads without quitting your day job Eye-catching direct mail pieces The Customer Relationship Management (CRM) system Ryan and Drew use How Ryan holds Drew accountable to his goals How to bring value to your mentor How Drew makes time for investing despite having a demanding job and a family And SO much more! Links from the Show Real Estate Rookie Facebook Group BiggerPockets Podcast Ryan's Member's Blog Carrot Monday ListSource DealMachine BiggerPockets Podcast 335: 70+ Units Per Year and How Exactly to Make a Lowball Offer with Ryan Dossey How to Find Cash Buyers Tutorial (Max Maxwell) REsimpli Call Porter Check the full show notes here: http://biggerpockets.com/rookie9 Learn more about your ad choices. Visit megaphone.fm/adchoices

Banks tend to love a certain type of borrower... and Mallori and Lucas don't quite fit the mold.They're not 9-to-5ers. They rely on tips and seasonal work. And they live modestly but aren't swimming in cash. So, when they took the plunge into real estate investing—in pricey Tacoma, Washington—they had some work to do to become "bankable."Today you'll learn how despite a few roadblocks, they dumped their rent payment and pulled off their first-ever home purchase: a house hack in an up-and-coming area. From shopping around between banks, to securing a "rehire" letter to verify employment, to negotiating "early access" to the property and doing some repairs before closing, this episode is full of great tips for those just starting out.Also—it's a reminder that "sweat equity" doesn't always mean physical labor. Sometimes it's just as important to stay focused and organized when it comes to the huge amounts of paperwork involved in a real estate transaction!Let us know what you think of the show in our Facebook group (just search "Real Estate Rookie"), and subscribe so you won't miss out next week. See you Wednesday!In This Episode We Cover: What Mallori and Lucas learned from a first-time homebuyer class The mindset shift that helped them overcome their fears How they avoided analysis paralysis Getting access to a property to do repairs before closing How they ensured their property passed the appraisal How they got free carpet for their rehab How blue-collar workers can be real estate investors, too How seasonal workers can make themselves more bankable What a "rehire letter" is How they analyzed several house hack deals Why listings with one Google Street View photo can be hidden gems Websites where they check rent comps Why their real estate agent turned out to be their "MVP" And SO much more! Links from the Show Real Estate Rookie Facebook Group BiggerPockets Podcast BiggerPockets Youtube Channel Redfin Biggerpockets Calculators BiggerPockets Pro Washington State Housing Finance Commission BiggerPockets Hard Money Lenders Zillow Hotpads Padmapper Check the full show notes here: http://biggerpockets.com/rookie8 Learn more about your ad choices. Visit megaphone.fm/adchoices

If you've been telling yourself, "I'll invest in real estate when prices come down," well... that time may be coming.So, what should rookie real estate investors be doing now to prepare?Today we outline six action items—from shoring up your financial position to making yourself an attractive partner. Also, we bring back the "Rookie Request Line" so you can hear Ashley and Felipe's answers to a few questions from the audience.If you feel stuck, fearful, or just restless while you're cooped up inside... then check out this episode and take action!If you're enjoying the show, please take 30 seconds to give us an honest review on Apple Podcasts.See you next Wednesday!In This Episode We Cover: How to secure long-term debt now How to make yourself bankable Why now is the perfect time to practice analyzing deals Why you should take a fresh look at your tenants' leases How to make yourself an attractive real estate partner What balloon payments are and how to plan for them Emergency preparedness procedures Getting your mindset right before jumping into real estate investing And SO much more! Links from the Show Real Estate Rookie Facebook Group Dave Ramsey Apartments.com Rookie Podcast 03: Coronavirus Crash? Dos and Don’ts from Recession Veterans Joe Asamoah and Steve Rozenberg Rookie Podcast 06: The Ultimate Beginners Guide to Tenant Screening with Lucas Hall Check the full show notes here: http://biggerpockets.com/rookie7 Learn more about your ad choices. Visit megaphone.fm/adchoices