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Real Estate Rookie

121: 10 Units in Multiple States, All in Just Under 2 Years!

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.81.7K Ratings

🗓️ 13 October 2021

⏱️ 63 minutes

🧾️ Download transcript

Summary

Tony Robinson has some great ideas, like creating a short-term rental empire in both Joshua Tree, California, and the Smoky Mountains over in Tennessee. Tony talked so highly of the latter investing region, that today’s guest, Cale Delaney decided to pack his whole family into the minivan and make the 10+ hour drive to check out the area. Shortly after, Cale was under contract for not one, not two, but three cabins! This wasn't Cale’s first experience with real estate investing. Back at the beginning of 2020, Cale had a mental shift where he realized that real estate could be the key to setting him financially free. He scoured homes all over his area of Florida until he came across a fourplex which rejected one offer from him but later accepted another. He made three of these units long-term rentals, and the other one a short-term rental. Cale went from zero to ten units in only a year and a half or so, without a ton of management experience of extravagant funding. If he can do it, you can too! In This Episode We Cover How to get your first property under contract, even if you keep getting rejected Managing locally before stepping into long-distance investing How a quick closing can lead to more deals in your pipeline Getting off-market properties under contract even in a competitive area Financing real estate investments using conventional loans, HELOCs, and more Scheduling time now to plan for freedom tomorrow And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group Airbnb Google Maps Zillow MLS BiggerPockets Podcast Hospitable PriceLabs Stessa Quickbooks RUBS Host Financial Visio Lending LendSimpli Rookie Podcast 51: 18 Deals in 2 Years AND a Full Time Job with Kevin Christensen BiggerPockets Forums Facebook Marketplace Craigslist Check the full show notes here: https://www.biggerpockets.com/rookie121 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is Real Estate Rookie, episode 121.

0:07.8

When we close on that first one,

0:09.6

immediately we negotiated in one of the contract,

0:12.3

you know, off-market on the two adjacent ones.

0:14.8

And so we ended up getting three cabins and a cold assack

0:18.2

at the end of the road on five private acres.

0:20.4

You know, it just worked out really cool that way.

0:25.0

My name is Ashley Care and I'm here with my co-host,

0:28.2

Tony Robinson.

0:30.2

Tony, I have some news.

0:32.4

I'm not sure if it's going to be good or bad.

0:35.0

What's going on?

0:36.3

Do I need to sit down to this news?

0:38.3

Yes, sit down.

0:40.6

I have, so my self-storage facility I've under contract.

0:44.2

I did a phase one environmental study and it's recommended to go into a phase two

0:49.4

environmental study.

0:51.1

So after the phase two, they'll find out if there's

0:54.7

environmental issues and if they need to be remediated.

0:58.3

So I spent the whole weekend talking with other investors as to,

1:02.7

okay, what's your opinion?

1:03.9

What should I do?

...

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