Episodes
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Mike Baum owns just one rental property, but this one property alone has changed his life. It’s allowed him to become such an investing expert that he’s constantly being asked for his opinion on the BiggerPockets forums, and he provides some of the most well-thought-out investing advice on the internet. So why does he have just one rental property, and why doesn’t he grow using his expertise? The answer isn’t that obvious.
You wouldn’t know it, but Mike is permanently disabled. After overworking so hard that he ended up losing his vision, he was placed on disability for the rest of his working career. This high achiever was forced to slow down and find something else that could replace his day job. Shortly after his diagnosis, he found BiggerPockets and turned a family vacation home into a short-term rental.
Now, he’s got systems and processes that help him self-manage with very few headaches, and he will probably keep this property as his one and only rental for life. Why didn’t he “FOMO” in when everyone was gobbling up real estate in 2020? Why didn’t he grow his portfolio to become the next tycoon? Mike has some clear answers for why he did what he did, and after listening to him, you might change what you want, too.
In This Episode We Cover
Why you DON’T need a large real estate portfolio to find financial success when investing
Why Mike tells beginner investors that they should NOT buy a short-term rental property
The systems and processes Mike made to automate his vacation rental self-management (so he works less!)
One thing you should do NOW before you start investing in real estate (it’s free!)
The real result of “FOMO” investing and how to stop shiny object syndrome from blowing you off course
And So Much More!
Links
Short-Term Rental & Airbnb Investing Forum
The BiggerPockets Real Estate Podcast
(00:00) Intro
(03:03) Losing Sight After Overworking
(05:53) Empty Lake House?
(09:21) Managing a Vacation Rental
(12:49) Know This BEFORE You Buy
(18:00) Just ONE Property
(21:25) No-FOMO Investing
(26:49) A “Very Interesting” 2025
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-501
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Covering your entire mortgage payment in ONE day?! Today’s guest is proof that you don’t need a full-blown real estate portfolio to start making money. She has only ever owned one property, her primary residence, but it brings in up to $16,000 a month being rented out part-time!
Welcome back to the Real Estate Rookie podcast! When searching for her first home, Nicole Lulinski Weill wanted a property that could bring in some extra income. She started looking at duplexes and homes with accessory dwelling units (ADUs) before stumbling on her dream house—a vintage home that had been used for film productions—and deciding to tap into its money-making potential as well.
Despite not owning any “rentals,” she can pay her mortgage with a single project. The best part? This unconventional strategy is scalable! Now that Nicole has proof of concept, she plans to buy more of these niche investments in emerging markets and rent them out in the same way!
If you want to make money without house hacking or becoming a landlord, you don’t want to miss this episode! Nicole will show you where to find a money-making primary residence, how to rent out your home to film production companies, and steps to protect your home from damage along the way!
In This Episode We Cover:
How this rookie investor covers her entire mortgage payment in ONE day
Why you DON’T need to own rental property to make money in real estate
How to turn your own primary residence into a money-making machine
Renting your home out to film production companies for a huge payday
Crucial steps to protect your house from damage while renting it out
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
Real Estate Rookie YouTube
Nicole’s Instagram
Buy the Book “First-Time Home Buyer”
Find an Investor-Friendly Agent in Your Area
Real Estate Rookie 497 - $1,000,000/Year with 22 Rentals by Focusing on This Ultra-Profitable Niche
(00:00) Intro
(00:59) Buying (and Renting!) Her Home
(10:51) Permitting & Logistics
(14:42) Paying Her Mortgage in a Day?!
(17:53) Protecting the Property
(22:450 Extra Fees & Rental Rates
(26:27) The Booking Process
(37:08) Connect with Nicole!
(33:39) Scaling & Revenue
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-500
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Episodes manquant?
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What’s the right investing strategy for YOU? In this episode, we’re going to hear from an investor who has scaled their real estate portfolio to twenty rentals in just TWO years! Despite their rapid success, they feel “stuck” and aren’t sure which strategy to use moving forward. Stay tuned as we show you how to choose the right strategy while helping them get unstuck!
Welcome back to another Rookie Reply! Today, Ashley and Tony are diving into the BiggerPockets Forums and Real Estate Rookie Facebook group to answer more of your recent questions. After showing you how to nail down an investing strategy, we’ll get into landlord anonymity and provide you with several creative ways to protect your personal information from tenants. But that’s not all. We’ll also discuss short-term rental rates and share the dynamic pricing tools we use to find the “sweet spot” for ANY property or market!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover:
How to nail down the perfect real estate investing strategy for YOU
Creative ways to hide your personal information from tenants
How to return security deposits to tenants (while staying anonymous!)
Determining the ideal nightly rate to charge (for your short-term rental and market!)
Maximizing your Airbnb revenue with the BEST dynamic pricing tools
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
Real Estate Rookie YouTube
OpenPhone
Google Voice
PriceLabs
Beyond Pricing
Wheelhouse
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-499
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Don’t have a ton of money to invest in rental properties? No problem! You don’t need hundreds of thousands of dollars to start building wealth. Chris Young, a (not-so) rookie investor from Southern California, started with just five percent down. He bought a $500,000 home in pricey Los Angeles for just $25,000 out-of-pocket. Now, Chris has four rental properties, one of which he uses as a vacation home, and hundreds of thousands in equity! Plus, he did it all while working a W2!
Chris knew he wanted to invest in real estate early on. So, when he started his full-time job, he also got his real estate agent license, allowing him to have a backup source of income in case his career didn’t work out. But, thankfully, his real estate has been doing more than alright! He performed a “live-in BRRRR” (buy, rehab, rent, refinance, repeat) on his first property, making him hundreds of thousands in equity, then bought another one!
But, after attending BPCon, Chris knew he needed a true investment property. What gets you monthly cash flow and a vacation home to use whenever you want? A short-term rental! But not everything went as planned—one unlucky event put his entire house out of commission for months! However, Chris is still thrilled that he has bought this property. He shares why he picked its specific market, how he dodged local competition, and did it all with just ten percent down!
In This Episode We Cover:
How to start building your real estate portfolio with just five percent down!
The “live-in BRRRR” strategy that made Chris hundreds of thousands of dollars
Picking your vacation rental market and why you DON’T want to go where everyone else is
Using a ten percent down second home loan to buy your first short-term rental
The one very unlucky event that cost Chris $40,000 (you CAN’T avoid it!)
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
Real Estate Rookie YouTube
Grab the Book, “Short-Term Rental, Long-Term Wealth”
Find Investor-Friendly Lenders
Real Estate Rookie 486 - Quitting His Job with Real Estate After Cracking the Cash Flow Code w/Miller McSwain
Connect with Chris
(00:00) Intro
(02:24) 5% Down First Property
(06:57) Property 2 (Rent-by-Room)
(11:04) Finding 1st Short-Term Rental
(19:36) 10% Down Sequoia Vacation Rental
(29:26) Losing $40K!
(30:01) Setting Yourself Apart
(39:44) Connect with Chris!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-498
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You can make money in real estate—with or without owning rentals! How? There’s a growing segment of the industry that rookies NEED to know about. It’s more lucrative than long-term rentals, more consistent than short-term rentals, and today’s guest is bringing in $1 million a YEAR with it!
Welcome back to the Real Estate Rookie podcast! Jesse Vasquez has mastered the medium-term rental strategy, bringing in over $1 million in revenue each year from twenty-two rentals. But here’s the thing. You don’t need a huge real estate portfolio to use this investing strategy and repeat his success. In fact, you don’t need to own ANY rentals to get started, making it the perfect option for new investors. But make no mistake—you’ll need to roll up your sleeves and get your hands dirty to build this type of real estate business!
In today’s episode, Jesse will show you how to tap into this emerging segment of the market. You’ll learn how to build your network, land your first contract, and become a trusted “broker” for human resource and recruiting companies throughout your market. You’ll also learn the ins and outs of setting up medium-term rentals and how to convert an existing rental property into a thirty-day stay!
In This Episode We Cover:
The corner of the real estate industry that investors are still overlooking
How to set up your own medium-term rental property in 2025
How to build your network, land your first contract, and earn money from referrals
The clients that make the BEST guests (and how to find them!)
Must-have amenities to include with your medium-term rental property
How Jesse makes over $1 million in annual revenue from twenty-two rentals
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
Real Estate Rookie YouTube
Buy the Medium-Term Rental Guide “30-Day Stay”
Find an Investor-Friendly Agent in Your Area
How to Invest in Medium-Term Rentals
Connect with Jesse
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-497
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Are you looking to grow your real estate portfolio and build wealth faster? There’s a tax “loophole” that allows you to sell your property and roll your equity (and profits) into a bigger and better rental property—all while deferring thousands of dollars in taxes. Stay tuned to learn how to use a 1031 exchange to your advantage!
Welcome back to another Rookie Reply! Today, Ashley and Tony are answering some of your recent questions from the BiggerPockets Forums. After discussing 1031 exchanges and “like-kind” properties, we’ll help an investor determine if they should sell or rent a property that, despite the potential to bring in decent monthly cash flow, has some costly capital expenditures looming. Next, is it better to stabilize a rental property by making home improvements that help you raise rent or use the same funds to buy another property? We’ll dive into the numbers and show you which option gives you the highest return!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover:
The tax “loophole” that allows you to defer thousands of dollars in capital gains tax
Building wealth and growing your portfolio with a 1031 exchange
Whether you should rent or sell a property that needs major repairs
When to stabilize your current portfolio versus buying another property
Prioritizing renovations that increase home value and allow you to raise rents
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
Real Estate Rookie YouTube
Ask Your Question on the BiggerPockets Forums
Put Your Vacation Rental on Autopilot with Hospitable
Ask Your Question for a Future Rookie Reply
Buy “The Book on Tax Strategies for the Savvy Real Estate Investor”
Find Investor-Friendly Lenders
What Is a 1031 Exchange in Real Estate? How to Guide & Examples
(00:00) Intro
(00:46) 1031 Exchanges
(11:50) Should I Rent or Sell?
(18:43) Making Home Improvements
(23:59) Ask Your Question!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-496
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Burned out at your W2 job? Tired of climbing the corporate ladder? Starting a real estate business could give you financial freedom, but is it worth giving up the security of a biweekly paycheck? This entrepreneur thinks so, and today, she’ll give you the blueprint for forging your own path in real estate!
Welcome back to the Real Estate Rookie podcast! Melissa Shelton is not only an investor, but also the founder of Dear Valentine, a business that blends luxury, hospitality, development, and management. Quitting her nine-to-five job to become a full-time entrepreneur wasn’t an easy decision since she had worked tirelessly for many years to reach the top of her field. But, in the end, her “why” won out, and she mustered up the courage to go all-in on her dream!
In this episode, Melissa will show you how to launch a “small and nimble” real estate business. You’ll learn how to set goals, grow your clientele from scratch, and build a business plan that keeps you afloat. But that’s not all. Melissa also has tips for limiting overhead costs, finding deals that give the highest returns, and hiring people who propel your business forward!
In This Episode We Cover:
How to start a real estate business that gives you financial freedom
How to get your “foot in the door” and land your first client
Creating multiple income streams that insulate your new business venture
Crafting the perfect “pitch” that gets new investors and partners on board
How to overcome the fear of failure when pursuing entrepreneurship
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
Real Estate Rookie YouTube
Ask Your Question on the BiggerPockets Forums
Melissa’s Instagram
Canva
Buy the Book “The Quitter’s Manifesto”
Find Investor-Friendly Lenders
Stay-at-Home Mom to “Accidental” Investor with a $600K/Year Business
Connect with Melissa
(00:00) Intro
(01:40) Catching the Real Estate “Bug”
(04:59) Leaving Her W2 Job
(09:42) Preparing for Entrepreneurship
(21:51) A Day in the Life
(23:37) Melissa’s Business Model
(27:04) How to Find Clients
(35:56) Staying “Small and Nimble”
(39:36) Connect with Melissa!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-495
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$50,000 cash flow from ONE rental!? Not many properties will give you this kind of return in today’s housing market, but this investor beat his competition to an innovative investing strategy, and it’s paying huge dividends. Want to find out what it is and how he did it? You don’t want to miss this one!
Welcome back to the Real Estate Rookie podcast! Garrett Brown envisioned himself running restaurants or operating hotels before real estate investing took him down a different path. He got his real estate agent license, flipped a few houses, and then, in a full circle moment, put his background in hospitality to good use—buying three condos at a discount and converting them into short-term rentals. But when Houston, Texas, like many Airbnb markets, became oversaturated in 2021, Garrett landed on a new strategy that would allow him to stand out. It gives vacationers a taste of the great outdoors without sacrificing the luxuries and comfort of a cozy home!
If you want to know how to earn five-figure cash flow from a single rental and keep your vacation rentals booked year-round, stay tuned. We’ll also get into why you should document your investing journey online (even if you’re just starting) and the trick to finding discounted properties!
In This Episode We Cover:
How this investor makes $50,000 in annual cash flow from one rental “unit”
The innovative rental property that blends luxury and the outdoors
How to stand out in any market by offering “unique stays”
Where most short-term rental bookings are coming from in 2025
Why every rookie should document their investing journey on social media
Scoring a deep discount on property by knowing a seller’s motivation
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
Real Estate Rookie YouTube
Ask Your Question on the BiggerPockets Forums
Pre-Order the Book “Smarter Short-Term Rentals”
Find Investor-Friendly Lenders
Real Estate Rookie 91 – 8 Units, 10 Wholesale Deals, and $0 Spent on Marketing w/ @liliinvests
Connect with Garrett
(00:00) Intro
(00:53) Agent to Investor
(04:00) Garrett’s FIRST Deal
(09:59) The Motivation to Sell
(14:21) Creating “Unique Stays”
(21:54) Land Hacking 101
(28:04) Permitting Challenges
(32:28) Funding the Dome
(35:42) Cash Flow & Bookings
(44:31) Connect with Garrett!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-494
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Many people invest for appreciation. Others invest for tax benefits. But some investors want enough monthly cash flow to replace their W2 income and help them quit their nine-to-five jobs. When can you go full-time with real estate investing? How many rentals do you need? Stay tuned!
Today, Tony and co-host Garrett Brown are diving into the BiggerPockets Forums, and our first question comes from someone who has launched six vacation rentals in just five years. Should they diversify their portfolio? Are they ready to become full-time investors? We’ll share our thoughts! We’ll also hear from someone who’s thinking about selling an equity-rich property to pivot to short-term rentals in the Midwest. Listen in as we show them how to choose a market and set up their Airbnb business. But that’s not all. One investor has bought a rental property that is already booked months in advance. Can they cancel those bookings? Raise their nightly rates? Stick around to find out!
Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!
In This Episode We Cover:
When to leave your W2 job to focus on real estate investing full-time
How to diversify your real estate portfolio without changing your strategy
When to sell your rental property and tap into your home equity
The top factors to consider when analyzing a short-term rental market
How to manage your vacation rental portfolio in five hours per week (or less!)
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
Real Estate Rookie YouTube
Ask Your Question on the BiggerPockets Forums
Pre-Order the Book “Smarter Short-Term Rentals”
Find an Investor-Friendly Agent in Your Area
Real Estate Rookie 297 – Traveling the World Thanks to One $6,500/Month Rental Property
Connect with Garrett
(00:00) Intro
(00:36) Diversification & Leaving Your W2
(08:40) Choosing a Vacation Rental Market
(17:52) Managing Short-Term Rentals
(24:58) Airbnb Fees & Using Home Equity
(27:58) Occupancy Rates & Pricing
(33:32) Connect with Garrett!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-493
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Do you want to buy a rental property in 2025 but fear money could get in the way? Putting 15%-20% down is a huge hurdle for new investors, but there are several strategies you can use to limit your expenses, grow your income, and even put LESS money down. If you want to know how to save for a down payment as quickly as possible, you need these money-saving tips!
Welcome back to the Real Estate Rookie podcast! Before you can invest in real estate, you need to lay a solid financial foundation, and today, personal finance expert, master live-in flipper, and co-host of the BiggerPockets Money podcast, Mindy Jensen, joins the show to weigh in on this crucial topic. Do you have your spending in check? Are you finding ways to grow your income? How’s your credit score looking?
Whether you’re starting from scratch or looking to level up your finances, we’ll share some actionable steps you can take toward buying property in 2025. We’ll also talk about ways to leverage your retirement accounts to buy real estate, whether you should pay down debt before investing, and other investments (that aren’t real estate) that could help you build wealth!
In This Episode We Cover:
ow to go from ZERO dollars saved to a full down payment for a rental property
Whether you should pay off your debt before investing in real estate
Creative ways to grow your income so that you can save money faster
How to avoid a 20% down payment when buying your first property
Leveraging your retirement accounts to buy passive real estate investments
How to build wealth with other investment vehicles (beyond real estate)
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
Real Estate Rookie YouTube
BiggerPockets Money 97 – Intentionally Choosing the Path to Financial Independence with Financial Mechanic
BiggerPockets Money 35 – Hacking Your Life to Live for (Almost) Free with Craig Curelop
Qube Money
Buy the Book “Real Estate Rookie”
Find Investor-Friendly Lenders
BiggerPockets Money 110 – Systematically Increasing Income and Intentionally Decreasing Spending with A Purple Life
Connect with Mindy
(00:00) Intro
(01:13) Laying a Financial Foundation
(06:10) Saving for a Down Payment
(12:58) How to Grow Your Income
(22:59) Other Investment Avenues
(28:24) Leveraging Retirement Accounts
(31:58) Paying Off Debt vs. Investing
(41:07) Connect with Mindy!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-492
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When interest rates rose, many investors stopped buying. But not Ryan Irwin. This rookie doubled down on real estate, choosing whichever investing strategy made the numbers work. Even in a tough housing market, Ryan’s big bet on real estate paid off, as he’s now up to seven deals and earns a solid chunk of cash flow each month!
Welcome back to the Real Estate Rookie podcast! It can take a new investor months, sometimes years, to find their first deal. But when Ryan was just starting out, he did the two things every rookie should do: he told everyone he was investing in real estate, and he started attending networking events. Building these relationships has allowed him to buy multiple rental properties, flip houses, and invest in syndications—all in just five years!
But Ryan doesn’t aspire to build his own real estate “empire.” He just wants a small real estate portfolio that gives him financial freedom. Now that he has several deals under his belt, he plans to stabilize his portfolio and squeeze even more cash flow out of his rental properties by refinancing and paying off his mortgages one by one!
In This Episode We Cover:
Why Ryan is doubling down on real estate (even in a tough housing market!)
The number one thing you can do today to fast-track your investing journey
Why a virtual assistant should be your first hire as you scale (and where to find one!)
Two things you can do to increase your rental property cash flow
Chasing financial freedom with a “small and mighty” real estate portfolio
How to scale faster by automating and delegating low-level tasks
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
Real Estate Rookie YouTube
Set for Life
The House Flipping Framework
Shop the BiggerPockets Black Friday Sale and Get Up to 60% Off Your Next Book Purchase
Buy the Book “The Small and Mighty Real Estate Investor”
Find Investor-Friendly Lenders
Achieving FI with Fewer Doors: The Small and Mighty Real Estate Portfolio
Connect with Ryan
(00:00) Intro
(01:31)Discovering Real Estate
(07:07) Ryan’s “Lightbulb Moment”
(12:49) Current Portfolio & Funding
(19:03) Key Systems & Processes
(28:56) Cash Flow Numbers
(35:27) Advice for New Investors
(36:23) Connect with Ryan!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-491
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
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Are you leaving cash flow on the table? Even if you own a single rental property, there are all kinds of strategies you can use to generate more rental income, whether it’s house hacking, renting by the room, or converting your long-term rentals to short-term rentals. And we’re just scratching the surface!
Welcome back to another Rookie Reply! Today, we’re diving back into the BiggerPockets Forums to answer some more of your recent questions. First, we’ll hear from someone who’s at a crossroads with their property. This house has paying tenants and consistent monthly cash flow, but the investor would need to sell the property this year to claim it as their primary residence and dodge capital gains taxes. Stay tuned to find out if they should sell or hold! Then, after a few cash-flow-boosting strategies, we’ll discuss using a HELOC (home equity lines of credit) for a down payment and the potential pitfalls you could run into!
Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!
In This Episode We Cover:
How to determine if you should hold or sell your rental property
How to reach your cash flow goals with the fewest properties possible
Creative ways to maximize your rental income on a single property
How to set realistic cash-on-cash return goals for 2024 and beyond
Potential pitfalls to avoid when getting a home equity line of credit (HELOC)
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
Real Estate Rookie YouTube
Real Estate Rookie 447 – Making $300K+ Profit Per Rental and Scaling FAST with “DADUs”
Real Estate Rookie 375 – Making $160K/Year From ONE “Rare” Property Thanks to Seller Financing
Protect Your Properties with an LLC Through Corporate Direct
Ask Your Question on the BiggerPockets Forums
Buy “The Book on Rental Property Investing”
Find an Investor-Friendly Agent in Your Area
Real Estate Rookie 195 – Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties
(00:00) Intro
(01:01) Should I Hold or Sell?
(10:13) Maximizing Rental Income
(20:43) What’s a “Good” Cash-on-Cash Return?
(23:40) Should I Get a HELOC?
(32:36) Ask Your Question!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-490
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Today, we’re talking about the real estate deals we did in 2024. What went right, what went wrong, and what mistakes did we make that you must avoid in 2025? This year was wild for the real estate market—you probably felt it, too. Whether you were buying rentals, flipping houses, or just getting started, this year felt hot, cold, and lukewarm all at the same time. So, how did we end the year? Did we hit our 2024 goals, or was this wild housing market just too much for us?
We’re sharing exactly what our 2024 goals were, whether we hit them, and what we’re planning for in 2025. We decided to give up one real estate investing strategy that wasn’t worth it anymore; we made some BIG mistakes by choosing the wrong agent, hiring the wrong people, and forgetting to systematize some properties. But we also made some solid moves that saved us when some of our deals began to fall apart.
Don’t repeat the same mistakes we made—learn from them instead! Tune in, write these lessons down, and build a better real estate portfolio in 2025!
In This Episode We Cover:
Our 2024 real estate deals in review and the one strategy we’ve decided to ditch
How choosing the wrong real estate agent can completely throw off your closing
Mistakes we made by hiring the wrong people to take care of our properties (we did this three times THIS year alone)
Why the right contractor is worth the extra cost (and can save your flip)
Tony’s newest house flip and how he’s trying to make up for a BIG loss
Our 2025 goals and why we’re deciding to scale SLOWER this coming year
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
Real Estate Rookie YouTube
Grab the “Real Estate Rookie” Book
Find an Investor-Friendly Agent in Your Area
How to Start Flipping Houses for Huge Profits in 2025 (Step-by-Step!)
(00:00) Our 2024 Goal Progress
(10:04) We’re Giving Up On This
(14:53) DON’T Choose the WRONG Agent
(19:26) Hiring the Wrong People
(22:30) The Right Team Pays Off
(29:37) Tony’s New House Flip
(33:52) Our 2025 Goals
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-489
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At the age of twenty-seven, this “rookie” has already completed over 100 real estate deals. The key to her success? She’s been in real estate since she was just seventeen years old. Seriously! By starting early and taking action, she has been able to make mistakes, sharpen her skills, and set herself up for success!
Welcome back to the Real Estate Rookie podcast! While her peers headed off to college, Dominique Gunderson got her real estate license and started learning the ropes. Before long, she was wholesaling—using direct mail, flyers, cold calling, and other strategies to complete more than forty deals in just eighteen months. But that’s not all. She then used these profits to buy her first rental property in cash when she wasn’t yet lendable. Once she was priced out of her hometown of Los Angeles, she turned to New Orleans, where she started flipping houses remotely!
Today, Dominique manages several projects simultaneously, and in this episode, she will walk you through her process for doing a long-distance flip—from building an out-of-state team to estimating rehab costs and managing contractors from afar. You’ll even learn about her exit strategy for the properties that don’t sell: the BRRRR method!
In This Episode We Cover
How to find off-market real estate deals and flip them for a profit in 2025
The key adjustments house flippers need to make in today’s housing market
How to build your team for long-distance real estate investing
The number one red flag to watch out for when hiring a general contractor
Crucial tips for managing an out-of-state renovation project
Estimating rehab costs and building a scope of work from hundreds of miles away
How to fund your fix and flips (without the banks) through private money lending
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-488
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Want to estimate your NOI (net operating income) BEFORE you buy a rental property? Calculating NOI in real estate isn’t hard, and after doing this dozens and dozens of times, we’re sharing how to estimate things like taxes, insurance, and maintenance costs so you know you’re buying a killer deal. Speaking of first deals, how much do you need to get started investing? $20K? $50K? $100K? A fellow rookie has $70K ready to invest but doesn’t know the next best move. We’re sharing exactly how they should start, and you can copy these steps no matter how much money you have.
It wouldn’t be a Rookie Reply if we didn’t discuss tricky tenant situations. One investor has a tenant who is FED UP with a broken outlet. Sounds pretty reasonable, right? Well, the tenant is giving the landlord an unreasonable ultimatum. What should the investor do? Let the tenant take care of things on their own (and potentially damage the property) or put their foot down and follow the lease agreement?
Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!
In This Episode We Cover:
How to estimate your taxes, insurance, and maintenance costs before you buy a rental property
The expenses that short-term rental investors always forget when running numbers
How to respond to a tenant when they’re sending you unreasonable maintenance requests
The first step you should take when deciding to invest in real estate
How to get your first rental with just $70K (or less) and mistakes beginners make
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
Real Estate Rookie YouTube
BiggerPockets Agent Finder
BiggerPockets Market Finder
BiggerPockets Real Estate Investment Calculators
Real Estate Market Analysis for Beginners | Rookie Resources
Hug Your Haters
NeighborhoodScout
BrightInvestor
Protect Your Properties with an LLC through Corporate Direct
Analyze Rental Properties Faster with “Real Estate by the Numbers”
Property Manager Finder
How to Invest in Real Estate with $50K in 2024
(00:00) Intro
(01:04) Calculating NOI
(08:36) Estimating Maintenance Costs & Other Fees
(11:48) Unreasonable Tenant Requests?
(23:49) Start Investing with $70K
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-487
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Want to quit your job with real estate investing? Rookie investor Miller McSwain has a strategy anyone can copy to make serious cash flow. This investing strategy is rookie-friendly and allows you to learn the real estate investing ropes while making serious money. Miller now has six properties with forty-one units in total, and today, he’s sharing this easily repeatable strategy for quickly building wealth.
Miller will be the first to tell you that his “coliving” strategy is not rocket science. He should know—he’s a former rocket scientist. After house hacking and renting out the rooms in his home, he realized how much cash flow the rent-by-the-room strategy makes. But instead of buying houses with as many rooms as possible, he began focusing on community living and homes with inviting common spaces, allowing for higher rents.
So, how do you start with this strategy? Miller explains, in detail, precisely what makes a great coliving investment property, how to market your rooms to get the most tenants possible, and what to do when conflict arises between roommates. After six properties, he’s still hunting for more, and if you’re looking for higher cash flow rentals, this is a strategy you should definitely try.
In This Episode We Cover:
How to quit your job and become a full-time real estate investor with “coliving”
Coliving explained and why it is NOT the same as renting by the room
Miller’s exact “buy box” and what makes a property perfect for coliving
Marketing your rooms online and how to quickly screen tenants without taking a hundred phone calls
Handling tenant conflict and what to do when roommates aren’t getting along
The easiest (and arguably cheapest) way to invest in your first coliving 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
Real Estate Rookie YouTube
Miller’s Instagram
Supply Mate
Start Your Real Estate Portfolio with “The House Hacking Strategy”
Find an Investor-Friendly Agent in Your Area
What is Co-Living and How Can It Help Your Multifamily Property?
Connect with Miller
(00:00) Intro
(03:09) Quitting His Job!
(07:01) Current Portfolio + Coliving 101
(16:56) How to Handle Coliving
(24:16) Marketing Your Rooms
(26:11) Screening Roommates
(34:26) Full-Time Investor Life!
(36:13) Tips to Start Coliving
(37:32) Connect with Miller!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-486
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This rookie has grown his real estate portfolio to seven properties, $5,000 in monthly cash flow, and over $1 million in total equity in just SIX years. His strategy isn’t flashy or sexy, but it’s highly repeatable. Even the greenest investor can use it to snowball one rental property into the next!
Jefferson Calloway was plunged into the world of real estate after meeting the world’s best tenant—an investor and mentor who not only sold Jefferson his first property but also moved in and knowingly rented it from him for a profit! Through this experience, Jefferson quickly learned the incredible scalability of buying properties owner-occupied, converting them into rentals, and repeating the formula. Now, through the power of delegation and automation, he earns active income from near-passive investments that require just one hour of his time each week. This allows him to focus on his home remodeling business, where he earns even more income to pour into real estate!
As you’re about to learn, you can find great investment properties in virtually any market, but you’re going to need the right people in place when investing out of state. In today’s episode, Jefferson provides the blueprint for finding more on-market and off-market real estate deals in competitive markets, building out teams, and mitigating risk within your portfolio!
In This Episode We Cover:
The formula Jefferson used to scale to seven properties in just six years
Cash flow versus appreciation (and why you DON’T have to choose one!)
The best ways to find better on-market and off-market real estate deals
Why you should always analyze your short-term rentals as long-term rentals
The investing strategy that can help you mitigate risk within your portfolio
The key to turning your rental properties into near-passive investments
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
Real Estate Rookie YouTube
Buy the Book “Scaling Smart”
Property Manager Finder
Traveling the World Thanks to One $6,500/Month Rental Property
Connect with Jefferson
(0:00) Intro
(00:39) Buying His First Property
(05:54) Jefferson’s Portfolio
(10:10) Sourcing Deals in Hot Markets
(15:37) Jefferson’s Buy Box
(21:11) Cash Flow vs. Appreciation
(30:18) How to Find a Property Manager
(34:09) Equity and Cash Flow Numbers
(39:33) Connect with Jefferson!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-485
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How much should your down payment for investment property be? Should you increase your down payment to maximize cash flow, or does putting all your financial eggs in one basket limit your ability to build and scale your real estate portfolio? Or should you instead pay off that high-interest-rate mortgage early to keep all the cash flow at the end of the month? We’re answering these questions in today’s Rookie Reply!
With high mortgage rates, one rookie asks whether it’s better to pay off their home with a seven percent rate INSTEAD of investing in more rentals. Paying off that loan gets you an automatic return, but there’s a strong argument as to why it isn’t the best move.
Are you doing your first house flip? Another rookie wonders whether they can negotiate when taking on a hard money loan and if the juice is worth the squeeze for a $50,000 profit on their first flip.
Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!
In This Episode We Cover:
Investment property down payments and how much you should put down to prioritize cash flow
Whether to keep investing or start paying off your high-interest-rate mortgages
Why you can’t just look at the cash flow when analyzing a potential investment
Financing a house flip and negotiating with a hard money lender (should you negotiate?)
What you should ALWAYS do before you take on a house flip to ensure your numbers are right
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
Real Estate Rookie YouTube
Protect Your Properties with an LLC through Corporate Direct
Ask Your Question on the BiggerPockets Forums
Grab the New Book, “The House Flipping Framework”
Find Investor-Friendly Lenders
Stop! Before Making a Large Down Payment, Read This
(00:00) Intro
(01:00) How Much to Put Down?
(11:42) Pay Off High Rate Mortgage?
(17:49) Financing a House Flip
(24:47) Is This Deal Worth It?
(29:24) Ask Your Question!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-484
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Can you still make huge profits from real estate in today’s market? While high interest rates and inflated home prices can make it difficult to find a cash-flowing rental property, there’s another strategy that delivers big returns—if you can stomach the extra risk: house flipping!
Welcome back to the Real Estate Rookie podcast! James Dainard is a master house flipper, co-host of the On the Market podcast, and, most recently, author of The House Flipping Framework. With over eighteen years of real estate investing experience and more than 3,500 projects under his belt, James knows more than a thing or two about this lucrative investing strategy. Today, he joins the show to share a few tips from his new book—like how to find the right deal, choose high-quality contractors, and keep your project on budget!
Whether you’re new to flipping houses or you need help with home renovations, this episode is loaded with advice to help you start and stand out. You’ll learn everything from choosing a market and analyzing distressed properties to building your team, estimating rehab costs, and more!
In This Episode We Cover:
How to start flipping houses and stand out in a tough housing market
The “biggest lie” in real estate that will stop you from making a profit
Why finding a flip-friendly real estate broker is crucial to your success
How to calculate your annualized return (and why it matters for house flips)
How to choose the right market and build your team for out-of-state projects
The step-by-step process for building out an accurate scope of work
Staying on budget (and on schedule) with cost-effective home renovation tips
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
Real Estate Rookie YouTube
Put Your Vacation Rental on Autopilot with Hospitable
Buy James’ New Book “The House Flipping Framework”
Find an Investor-Friendly Agent in Your Area
Flipping Houses: How to Get Started and Everything You Should Know
Connect with James
(00:00) Intro
(01:11) Planning Your Project
(05:48) House Flipping Returns
(14:39) How to Choose a Market
(19:11) Building Your Team
(26:06) Estimating Rehab Costs
(36:09) 3 Tips for Selling Flips
(39:49) Connect with James!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-483
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
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Can you still find great deals in today’s cutthroat housing market? Of course! But you may need to go off the beaten path. Rookie investor Karl Denton looks beyond the MLS (multiple listings service), focuses on undervalued and distressed properties, and even does his own home renovations to create value. If he can do it, YOU can, too!
Welcome back to the Real Estate Rookie podcast! Karl has a superpower—finding hidden gems that other investors overlook. And he’s not doing anything that you can’t. Even as a full-time firefighter, he still finds time to attend meetups, go to foreclosure auctions, build his own lists, and contact homeowners about their properties. So far, this strategy has allowed him to find, buy, and fix three properties in three years!
Want to replicate his success? Tune in as Karl walks you through each step of the BRRRR method (buy, rehab, rent, refinance, repeat). Along the way, you’ll learn where to find undervalued properties, how to manage out-of-state renovations, and when to do a cash-out refinance. You’ll also hear about Karl’s big pivot from long-term rentals to short-term rentals and the huge cash flow boost that came with it!
In This Episode We Cover:
How to find, fund, and fix distressed or undervalued homes in 2024
Why the BRRRR method still works in today’s challenging market
Three ways to buy properties with tax liens (and why they make GREAT investments)
Crucial tips for managing an out-of-state home renovation project
When to pivot from one investing strategy to another based on your market
Why you should focus on stabilizing your real estate portfolio before scaling it
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
Real Estate Rookie YouTube
Buy the Book “Buy, Rehab, Rent, Refinance, Repeat”
Find an Investor-Friendly Agent in Your Area
Making $300K+ Profit Per Rental and Scaling FAST with “DADUs”
Connect with Karl
(00:00) Intro
(00:46) Buying His First Property
(03:55) The BRRRR Strategy
(11:37) Karl’s Portfolio & Auctions 101
(20:40) DIY & Out-of-State Renovations
(29:54) When Should You Refinance?
(33:55) Switching to Short-Term Rentals
(41:35) Revenue & Tips for Rookies
(47:47) Connect with Karl!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-482
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
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