Podcast
Real Estate Rookie
New to real estate investing and not sure where to start? Ashley Kehr and Tony J. Robinson break down the basics with real-world deal analysis, investor interviews and listener Q&A.
- Investing chart
- #74
- Episodes
- 800
- Releases
- Twice a week
- Typical length
- 34 min
- On air since
- 2020
- Latest episode
- 1 day ago
Episodes
800 episodes, newest first
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52 min
2 Duplexes Will Fund My Retirement (That’s It!)
Show notes
Two duplexes, four rental units—that’s all Erik Caci needs to retire comfortably. Most real estate rookies aim to buy 10, maybe even 20, rentals. But for Erik, just two in the right market might be enough to guarantee a financially free future. And the best part? He bought two duplexes with under 20% down (and you can, too)!
Welcome back to the Real Estate Rookie podcast! After Erik changed careers, he was forced to move to everyone’s favorite city to invest in (heavy sarcasm): Los Angeles, California. But with rent and home prices among the highest in the country, Erik had few options until a 100-year-old home that had been on the market for three months popped up on his feed.
It had all the best parts of an old home—charm, historic architecture, mold, termites, and a bad roof! So instead of putting 20%, or even 10%, down, he put down just 3.5% and saved the rest for renovations. Plus, he needed to move out a tenant before he could house hack. We won’t spoil how the renovation went, but in today’s show, Erik shares how this duplex unfolded, why he bought another similar property afterward, and why renovations aren't so scary when you have your reserves ready.
In This Episode We Cover
Why just two rentals in the right real estate market could be enough to retire you
Putting just 3.5% down on your first (or next) rental property with the house hacking strategy
Buying “historic” houses and the renovation approval process to be prepared for
Why your rentals don’t need to cash flow to be worth the investment
Stay in LA? Why Erik may switch up his strategy and invest in these two overlooked markets
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-791.
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36 min
First-Time Landlord? How to Find Great Tenants on Your Own (Rookie Reply)
Show notes
Ready to rent out your property? Set up the right systems from day one, and you’ll attract better tenants, avoid costly rookie mistakes, and keep more cash flow in your pocket!
Welcome back to another Rookie Reply! We’re starting today’s episode with a first-time landlord who is renting out his home near a military base and wants to get it right from day one. We’ll share the resources for every step of the leasing process, plus what to know before renting to service members. Then, a new house hacker wants property management software that will grow with his portfolio. Ashley explains what to compare before you commit, including payout times, hidden fees, and the tenant experience. Plus, the property management perks that come with BiggerPockets Pro.
Finally, another first-time landlord gets ready to place his next tenant without an agent. We map out the DIY turnover, from move-out inspection to listing, screening tenants, and setting the right rent! We also cover the one mistake to be cautious of, and when hiring aproperty manager is actually the better deal.
Looking to invest? Need answers? Ask your questionhere!
In This Episode We Cover
How to rent out your property the right way, from day one
What landlords should know about renting to military families
The DIY leasing process for placing tenants without an agent
Where to list your rental and how to pre-screen before anyone pays
How to price your rental (and signs you’re charging too little)
Choosing property management software that scales with your portfolio
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-790.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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39 min
8 Ways to Use Your Home Equity to Buy a Rental Property in 2027 Trailer
Show notes
Saving for a down payment can take years for some, but if your home is worth more than you owe on it, you might already have the money to buy your first or next rental property. Today, we’re going to show you exactly how to use it!
Welcome back to the Real Estate Rookie podcast! Join us as we walk through eight ways to turn your home equity into your next deal without putting the roof over your head at risk! You’ll learn how to choose the right option for your situation, whether you want to protect a low mortgage rate, keep your payments flexible, or get cash fast enough to beat other buyers to a deal.
Ashley explains how she uses a HELOC to make winning cash offers, and Tony shares why he treats that debt as short-term money. You’ll find out when a home equity loan makes more sense than a line of credit, and we’ll also help you determine when a cash-out refinance is worth giving up a low interest rate.
If you’ve built up equity and aren’t sure what to do with it, or you have a primary residence and want to start building your portfolio sooner, this episode will show you how to put that equity to work, safely!
In This Episode We Cover
How to use a home equity line of credit (HELOC) to make cash offers on rentals
The real difference between a home equity loan and a line of credit
Why a higher interest rate doesn’t automatically make a deal “bad”
Where to find lenders who offer lines of credit on rental properties
How Tony did his first two BRRRR deals with $0 of his own money
The equity option Ashley and Tony say to use only as a last resort
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-788.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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46 min
Turning $12K in Rent Payments Into a $1.3M Real Estate Portfolio
Show notes
What if you could buy your first property without perfect credit, big cash reserves, or a bank saying yes? Sometimes your first real estate deal is hiding in a building you already pay rent on, and all it takes is the right question to unlock it. Today’s guest did just that, and it opened the door to his entire real estate journey!
Welcome back to the Real Estate Rookie podcast! Reginald Calloway didn’t have good credit, cash reserves, or any real estate experience when he asked his daycare business’s landlord one simple question. That question turned a year of rent into a $12,000 down payment and a seller-financed deal with no money out of pocket. Over the next few years, that one building became three, and his childcare campus recently appraised for $1.3 million!
But not every deal went this smoothly. Reginald walks through the auction flip that cost more than double what he budgeted, and the credit card interest that left him unsure whether he made a profit at all. He’ll show you why a check at closing doesn’t always mean you profited on a flip, why you should run your numbers before you bid, and how his first mail campaign landed a rental property that cash flowed from day one!
In This Episode We Cover
How one question turned a rented property into a first deal
Using rent you’ve already paid as your down payment (seller financing!)
Land contracts explained, plus the crucial mistake to avoid before you sign
Why an auction bidding war is the fastest way to overpay on a property
Why you should never negotiate against yourself ($10,000 near-miss!)
Why a check at closing doesn’t always mean you made a profit
And So Much More!
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23 min
Ran the Numbers but Nothing Cash Flows? What to Do Next (Rookie Reply)
Show notes
So you ran the numbers and the cash flow shows negative? You don’t have to give up on rentals. With a few smarter assumptions, the right strategy, or the right market, you can turn “this will never work” into a deal that actually pays you!
Welcome back to another Rookie Reply! Today’s first rookie has analyzed three to four dozen small multifamily properties. Even at 20% below asking, almost none of them cash flow on day one. We narrow it down to three possibilities: are you being too conservative with your expenses, is the 1% rule out of reach in your market, or is it time to pivot? We show you how to stress-test your vacancy, maintenance, and CapEx numbers, and walk through the real fix.
Next, can you invest in US real estate while working here on a visa? We share exactly who to talk to before you buy! Finally, we’re breaking down how to build your investing team when capital is limited, including which pros you need before your first deal and which can wait.
If the numbers don’t work, don’t force them. There’s a better path to your first deal!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover
Why your deals won’t cash flow, and whether it’s your math or your market
How to make rentals work in a high-cost-of-living market
How to pivot your strategy with rent by the room, mid-term, or short-term rentals
When to tighten (or loosen) your expense assumptions
What to do before buying rentals on a work visa
Who to hire first when your capital is limited
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-787.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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34 min
How to Start Your Rental Portfolio in 2027 (No Experience, Little Money)
Show notes
What would you do if you had to start your real estate portfolio over with little money and no experience? We’d do it a lot differently the second time around!
Welcome back to the Real Estate Rookie podcast! After interviewing hundreds of investors and even scaling our own portfolios to replace our incomes, we’ve got the framework to help you start your real estate portfolio, today! If we had to start from scratch in 2027, this is the exact seven-step plan to do it faster (and smarter) than our first time around.
It all starts before you make a single offer. You’ll learn how to get into the right rooms, go beyond just “networking,” and find the people (and partners) you need. You’ll also hear how to bring value even with zero experience, and why partnering with a seasoned investor can save you years of costly mistakes. We’re sharing our advice on how to commit to one strategy, find undervalued deals, and build systems around your first rental property so you can scale with ease!
The best time to start is today! And with our seven steps, you can get started sooner than you thought!
In This Episode We Cover
The seven steps we’d take to build a real estate portfolio from scratch
How to bring value to experienced investors (and become their partners)
How partnering can shortcut years of costly mistakes and tough lessons learned
How to choose the right strategy for your skills, goals, and resources
Where to find undervalued deals (yes, even on the market!)
The systems to set up on property one so you can scale without breaking
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-786.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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34 min
Building a 6-Property Portfolio While Working a W-2 and Raising 6 Kids
Show notes
Ever made a money decision you'd give anything to redo? You can't rewind the clock, but you can try again, even with a full-time job and a full house!
Welcome back to the Real Estate Rookie podcast! At 18, Josh Yeatts turned down his family's nearly paid-off mobile home park. Years later, after accidentally becoming a landlord, he sold that rental out of frustration. Looking back, Josh realized he was missing out on family time and wanted more freedom, and real estate investing seemed to unlock that! He and his wife agreed to run it like a business, and built a six-property portfolio, all while working a W-2 job, serving as a pastor, and raising six kids!
Josh shares how he scraped together the down payment on his firstrental property with a tax refund and home equity, the importance of building relationships with your agent, lenders, and vendors, and covers the reason he skipped his inspection (and why you shouldn't!). He walks us through his firstBRRRR, how he finds contractors he can trust, and the multigenerational housing plan that converted three family homes into rentals that more than cover his new mortgage!
If you've ever wondered whether it's too late to start (or start over), this episode is your sign!
In This Episode We Cover
Using your tax refund and home equity to fund your first rental property
How to get your spouse on board with real estate investing
Why an investor-friendly agent can make your first deal easier
Doing your first BRRRR (buy, rehab, rent, refinance, repeat) with a DIY rehab
How to find and vet contractors you can trust
The multigenerational housing plan that turned family homes into rentals
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-785.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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29 min
How to Turn Your Equity Into Rentals with a HELOC or Cash-Out Refi (Rookie Reply)
Show notes
Pulling equity out of your home to buy your next rental can feel like free money, but it isn't. Whether you use a HELOC or a cash-out refinance, if you don't run the numbers the right way, it can eat up your cash flow…fast. But if you get it right, the equity you've already built can fund your next down payment without draining your savings, while growing your portfolio!
Welcome back to another Rookie Reply! Today's first question comes from an investor who has owned a long-term rental for eight years, with significant equity. Now, she wants to use that equity to buy her next rental, but doesn't know how to account for the new debt. We break down how a HELOC (home equity line of credit) and a cash-out refi actually work, and how Tony used a HELOC on his own home to help cover his next down payment! We also run through the one test every deal has to pass before you tap your equity.
Ever wanted to help a family member find a stable place to live? We go head-to-head on whether to buy a condo or build an ADU, and share how to protect your investment (and your family relationships) if plans change. Finally, if you're ready to hire a property manager so you're not the one taking every tenant call, we’ll walk you through how to vet one, which fees to inquire about upfront, and the questions to ask before you hand over the keys!
Whether you're tapping your equity, housing someone you love, or handing off the keys, this episode will help you make your next move with confidence!
In This Episode We Cover
The difference between a HELOC and a cash-out refinance
How to underwrite your next deal when you're borrowing against your equity
The simple test that shows whether your new rental can cover the extra payment that comes from a HELOC or refinance
Stress-testing your interest rate before completing a BRRRR (buy, rehab, rent, refinance, repeat)
Condo vs. ADU when buying housing for a family member (that’s also an investment)
The questions to ask before hiring a property manager
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-784.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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38 min
Long-Term Rentals: Everything You Need to Know Before You Self-Manage
Show notes
Thinking about investing in long-term rentals? Finding the property is only half the battle. Getting it rent-ready, landing great tenants, and keeping everything running smoothly is where successful landlords get it right. So today, we're flipping the script and bringing Ashley into the hot seat to share exactly how she does it, and the costly mistakes to avoid along the way!
Welcome back to the Real Estate Rookie podcast! Tony has spent years running short-term rentals, but in just three weeks, he'll be self-managing a long-term rental for the first time. So Ashley, our resident long-term rental expert, is giving him a full crash course on everything she's learned from owning and operating long-term rentals.
Ashley walks us through her make-ready “punch” list—including how to decide what your rental actually needs before you rent it out. Next, we’ll learn why it pays to list your rental early, how to run showings and open houses, and how to move applicants smoothly from first viewing to signed lease. Ashley also breaks down her step-by-step process for screening tenants and spotting red flags, setting clear income requirements, collecting a holding deposit, handling move-in inspections, and what every lease agreement should cover.
Whether you're buying your first long-term rental or deciding whether to self-manage, this episode gives you the full playbook to get started!
In This Episode We Cover
The make-ready “punch” list for turning your home into a rental
How to decide which appliances to leave
Why you should list your rental before you move out
Showings vs. open houses (and why most booked showings never show)
How Ashley screens tenants and spots fake pay stubs
Holding deposits, prorated rent, and move-in inspections explained
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-783.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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55 min
He Doesn’t Own These Rentals (But They Helped Him Quit His Job)
Show notes
Most rookies think you need dozens of rentals before you can walk away from your job. But what if the fastest way to replace your income didn’t require building a huge portfolio?
Welcome back to the Real Estate Rookie podcast! Ryan Dumka was stuck in long days at his corporate job and missing time with his family, when he took a chance on his very first short-term rental (STR). When he realized how well it worked, he used a 1031 exchange to buy the next. But it wasn’t more properties that finally set him free.
Ryan shares how a simple partnership turned into a thriving STR management business, and how you can do the same with the skills you already have. You’ll learn how to find property owners who are looking for your help, how to turn local agents into a steady lead source, and ways to scale up without losing the freedom you started this for! If you’ve ever thought about Airbnb co-hosting, this episode is your roadmap!
If you’ve got even one property running smoothly, you might be closer to your exit than you think!
In This Episode We Cover
How to get your first Airbnb up and running for around $30K
Using the equity you already have to buy your next rental faster
How to land property management clients without spending a dime on ads
A simple postcard trick that helps you win over struggling Airbnb owners
The pitch that turns real estate agents into your best lead source
How to stack side businesses that make your rentals more profitable
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-782.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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25 min
Cash Flow vs. Appreciation: What Matters Most in 2027 (Rookie Reply)
Show notes
Should a rental property put cash in your pocket each month or build serious wealth over time? Cash flow versus appreciation is the oldest debate in real estate investing, but the answer depends on several factors. Today, you'll learn how to pick the path that fits your goals and get the most out of your investments!
Welcome back to another Rookie Reply! We’re tackling three questions straight from the BiggerPockets Forums. First up, an investor who wants to house hack a small multifamily home is torn between cheaper towns with more cash flow and pricier towns with more appreciation. We have the answer!
Next, a high-income earner is weighing multiple investing strategies, from Section 8 and the BRRRR method to value-add deals and sober living facilities. Ashley and Tony go head-to-head on the best next step forward. Finally, a broker wants to learn the investor side of real estate, from acquisition to exit, before putting her own money on the line–and we discuss what to look out for when getting started!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover
Whether you should invest for cash flow or appreciation in 2027
The hidden headaches of “cheap” properties in lower-income areas
How to pick the right investing strategy for your long-term goals
Why a sober living home might be the hardest (or best) first investment
The difference between comfort and confidence, and why you'll never feel "ready"
How to take a smaller swing so your first deal feels less scary
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-781.
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 https://megaphone.fm/adchoices
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30 min
The AI Tools That Save Real Estate Investors Time and Money (Weekly!)
Show notes
Still using AI like a fancy search engine? Then you're leaving hours of your week, and a lot of money, on the table. Using the right AI tools in your real estate business can help eliminate tedious work, lower your expenses, and free you up to focus on growing your real estate portfolio. Today, we're showing you exactly how to get started!
Welcome back to the Real Estate Rookie podcast! Today, Ashley puts Tony in the hot seat as our resident AI expert. Tony isn't a developer, but he's used AI to build a custom direct booking website for his short-term rentals (without paying an agency). He also built a master dashboard that shows him how every property in his rental portfolio is performing.
Tony breaks down which AI tools are worth your time and even shows Ashley how AI could take over one of her most time-consuming weekly tasks. It's a live example you can follow to spot the busywork in your own business!
Whether you're just getting started in real estate or ready to scale, you don't need to know how to code. You just need to know the outcome you want and let AI do the heavy lifting!
In This Episode We Cover
The easiest ways to implement AI within your own real estate business
Why using AI like a search engine leaves most of its value on the table
How to spot the repetitive tasks AI can take off your plate
How a non-developer built a custom direct booking website with AI
The one dashboard that tracks every property, account, and booking
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-780.
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 https://megaphone.fm/adchoices
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52 min
From Accidental Landlord to 40+ Apartment Units (While Working Full-Time)
Show notes
Buying rentals one house at a time works, but what happens when you do the math and realize it'll take 20 years to change your life? That’s the exact wall today’s guest hit, before pivoting his investment journey towards multifamily. We’ll break down why (and how to) make the move, a new perspective on risk mitigation, and why multifamily isn’t as scary as most rookies think it is!
Welcome back to the Real Estate Rookie podcast! Vaibhav Puranik never planned on being a landlord. An abandoned condo in his HOA turned him into an accidental property manager, and a down market turned his own condo into his first rental. When Los Angeles priced him out, he used the BiggerPockets Forums to find an investor-friendly agent and bought out of state. Five single-family rentals later, he hit a ceiling, so he went bigger.
Vaibhav explains exactly how real estate syndications work, how he landed his first general partner (the operator) spot with one condition, and how he now owns stakes in multiple apartment buildings across California! You'll also hear the one money mindset that killed his fear of tenant calls, why understanding CapEx vs. OpEx changed everything, and how he knew it was time to leave his tech career to invest full time.
If you're stuck wondering whether you're "ready" for multifamily, Vaibhav’s story and advice will leave you feeling confident to enter the market with a fresh perspective!
In This Episode We Cover
How an abandoned condo turned Vaibhav into an accidental property manager
Using the BiggerPockets Forums to find an agent in a market you’ve never seen
Why buying one house at a time may feel too slow to change your life
How Vaibhav became a syndication general partner on his very first deal
The one mindset shift that takes the dread out of tenant calls
Why you don't need a portfolio of rentals before investing in multifamily
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-779.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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22 min
How Much Should a House Hack Make in 2027? (Rookie Reply)
Show notes
Can the numbers on your house hack still work when your tenant's rent doesn't come close to covering the mortgage? And if it won't cash flow, how much should a house hack actually make in 2027? Today, we're uncovering the hidden benefits and forgotten expenses that change the math!
Welcome back to another Rookie Reply! Today, we're answering three questions most house hackers have asked at some point. After running the numbers, one investor would still be paying over $2,000 a month out of pocket. Is house hacking a thing of the past in expensive markets? Not quite! We'll redefine a “winning” house hack and share ways to squeeze more income out of the same property with investing strategies like renting by the room, mid-term rentals, or what we’re calling the "mega house hack."
Another investor looking to house hack is getting wildly different advice about what cash-on-cash return to expect. We'll show you why there's not one "right" number, what to weigh besides cash flow, and how a tighter buy box reveals what a deal can really earn. Plus, we settle what "break-even" really means and share the tools that ensure you never miss an expense.
Don't let imperfect numbers talk you out of a good first house hack, or into a bad one! By the end of this episode, you'll know how to run your numbers the right way and spot a great deal you might have passed on otherwise.
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover
Whether house hacking still works in expensive markets
Redefining a "successful" house hack when the tenant can't cover the mortgage
The "mega house hack" that stacks strategies to boost income on both sides
What "break-even" really means (and the expenses most rookies forget)
What cash-on-cash return you should expect in today's market
How a tighter buy box helps you predict your real returns
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-778.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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28 min
How to Go From 1 to 10 Rentals with "The Stack" Method
Show notes
The idea of building and scaling a rental portfolio can seem daunting to most rookies starting off. What if we told you there's a realistic, proven formula most rookies don't discover until they've already taken their first step? Today, we're walking you through a method for turning one deal into 10 (or more) without needing a ton of cash!
Welcome back to the Real Estate Rookie podcast! If you're a new investor, financial freedom can feel far away, but what if we told you that you could go from a single rental property to 10 units in just a few years? The stack method is a proven formula that helps investors build their portfolios on realistic timelines, with realistic budgets! Today we’re breaking down exactly how it works, and how to double your portfolio size with every deal.
We’ll walk through the full stack playbook step by step, how house hacking combined with HELOCs (home equity lines of credit) can fund your next down payment, how to get that down payment to just 3-5%, and the best markets for stacking in 2026.
You don't need hundreds of thousands of dollars to get started, you just need to follow the easy steps in today’s episode!
In This Episode We Cover
How the stack method turns one rental into a 10-unit portfolio in just a few years
Why house hacking makes your first few stacks dramatically easier to afford
Using a HELOC (home equity line of credit) to fund your next down payment without touching your savings
The real numbers: stacking vs. buying single-family rentals one at a time
The best markets for stacking in 2026, and how to spot a strong price-to-rent ratio
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-777.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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51 min
Seller Financing His First Rental When No Bank Would Lend
Show notes
What happens when your first deal turns into the money pit you were afraid of? For a lot of rookies, that fear alone delays buying a rental property for years. But today's guest proves that a rough first deal can still launch a successful portfolio!
Welcome back to the Real Estate Rookie podcast! Joshua Settimio went from cleaning beach rentals in high school to working as a real estate agent, and then soon realizing that he wanted to buy the deals he was selling. His catch was that no bank would lend to him so early in his career. Joshua decided not to stop there. He found a house with a termite issue and a tenant who hadn't paid rent in over a year, and asked the owner for seller financing. The rest was history!
Today, Joshua estimates his portfolio at 70 properties across four partnerships!
Joshua explains how he got the non-paying tenant out without an attorney, and why the rehab dragged on for about a year. He also shares how a detailed scope of work and an “as-completed” appraisal finally got a bank to say yes, and how he used the property's equity through a line of credit to buy his next deal!
Your first deal doesn't have to be perfect. It just has to teach you enough to get to the next one! Joshua’s approach towards real estate shows that not every investor’s journey is linear, but with the right mindset, anyone can build a portfolio!
In This Episode We Cover
How to buy your first rental when banks won't lend to you
Where empathy ends and boundaries begin with a non-paying tenant
Getting a non-paying tenant moved out without hiring an attorney
How an “as-completed” appraisal unlocks financing for your rehab
Turning one property's equity into your next real estate deal
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-776.
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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26 min
You've Got a 100% Financing Deal. Do You Take It? (Rookie Reply)
Show notes
Great deals are hard to find as a rookie, so when one lands in your lap, it can feel like you just struck gold. But how do you actually know if it's the real thing, or if there's a catch? Today, we're breaking down how to evaluate a low-money-down deal when one comes your way, and exactly what to look for before you say yes.
Welcome back to Rookie Reply! First, we’re helping a rookie weigh a 100% financing offer his agent is warning him away from—what actually makes a deal like this worth the risk attached to a “no money down” loan? We map out our best advice moving forward, and how to think about reserves for the unexpected.
We’re also helping a rookie reverse-engineer his very first house hack, working through when to bring an agent into the picture, and how to walk into an FHA inspection. Finally, a 20-year-old dad who's done all the studying but is still too scared to pull the trigger on his first deal. We offer the next best steps on how he can comfortably make that decision without risking hard financial hits!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover
How to tell if a 100% financing offer (0% down) is worth the risk
Managing reserves for the deals that don't go as planned
Reverse-engineering your very first house hack (exact steps to take)
Knowing exactly when to bring an agent into the picture on your first deal
Walking into an FHA inspection fully prepared (and what they’ll look for!)
The mindset shift that makes your first deal feel possible
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-775.
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36 min
Multifamily vs. Single-Family Investing: Which Is Better for Beginners?
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Every rookie investor arrives at the same fork in the road early on: single-family home or multifamily. Which one's actually the better option? The property type you choose first can shape how fast you cash flow and how quickly you're able to scale your real estate portfolio. Today, we're breaking down both approaches so you can make that choice with confidence!
Welcome back to the Real Estate Rookie Podcast! We're covering the real pros, cons, and differences between single-family and multifamily investing, including how your first rental property affects your options down the road. We're also running deal analysis on a similar single-family home and duplex to show you exactly where the major differences lie and dig into the numbers to see which path actually builds more wealth.
While the decision largely depends on your market, budget, and time, this episode shows you exactly how to weigh those factors against your own goals. By the end, you'll know which property type will get you where you want to go!
In This Episode We Cover
Whether you should invest in single-family or multifamily for your first rental
The catch with some high-cash-flow multifamily properties
Real numbers on two deals (including cash flow!)
The challenges of house hacking a single-family home
Why financing becomes more difficult past a fourplex
Which type of rental property we’d buy if we were starting over today
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-774.
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1 hr 4 min
How to Turn One Condo Into a 17-Unit Rental Portfolio!
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Getting into an expensive market can feel completely out of reach for a rookie. But today’s guest looked at the numbers and realized that if he worked this in his favor, he could build reliable, long-term wealth. That math led him to 17 doors across three states, and today, he’s breaking down all his tips so you can start, and scale, too!
Welcome back to the Real Estate Rookie podcast! In December 2009, Rick Albert was a broke college senior when he was introduced to a successful real estate investor. That meeting sent Rick down a path that started with an LA condo that many overlooked. He managed to see past the issues, and house hacked the unit with just 10% down.
That single deal became the foundation for everything: a HELOC that funded an ambitious ADU conversion, a renovation that took three times longer than planned, and eventually a portfolio spanning 17 units across 3 states, with his business partner.
Today Rick breaks down his advice on investing in high-cost markets, the numbers behind his deals, and what he'd do differently if he had to start over with no money. He also covers the unusual trick he used to cover his own closing costs, and what he did with the $228K he walked away with when he finally sold that first condo!
If you've ever assumed a market like LA is off-limits for a rookie, this episode says otherwise!
In This Episode We Cover
How to turn a "problem" property into your first house hack
Why cash flow isn't the only way to build wealth
How to use a HELOC (home equity line of credit) to fund your next deal
Why moving into your own rental can unlock a better refinance without an appraisal
How to keep a renovation alive when the money runs short
What to do with a six-figure gain once you sell
The lender trick that puts money back in your pocket at closing
And So Much More!
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23 min
Don't Buy a House Hack Until You've Checked These Numbers (Rookie Reply)
Show notes
Investing in your first house hack but not sure whether the deal makes sense in the long run? House hacking is the way most rookies get started in real estate, and we’re breaking down how to analyze those deals to make sure you’re starting off strong!
Welcome back to Rookie Reply! We’re back, answering three of your burning questions straight from the BiggerPockets Forums. In this episode, a rookie wants to try his first house hack but needs to know exactly what to analyze in a duplex vs. a single-family home. We’re breaking down the three factors that decide if it makes sense in their market, including a "supermax" strategy most rookies haven't even considered! We’re also weighing in on whether an investor should buy local or out of state for their first long-term rental, and the one trend rookies need to check before choosing a market!
Finally, a rookie who is torn between a duplex or a vacation home gets an answer with a twist: the tax loophole that could make one option the smarter buy. Three very different scenarios, but all packed with strategies that will help you on your buying journey, and a clear path to building your long-term wealth!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover
The three numbers that make or break a house hack deal (always run these)
The "supermax" strategy for maxing out your house hack returns
Why negative cash flow isn't always a bad sign
Backyard vs. out-of-state investing: which wins for your first rental
The tax loophole most rookies have no idea about (very useful if you have a BIG tax bill)
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-772.
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