220: Rookie Reply: How to Buy Rentals Once You’ve Run Out of Cash

Real Estate Rookie

BiggerPockets

Entrepreneurship, Education, Investing, Business, How To

4.7 • 1.8K Ratings

🗓️ 24 September 2022

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week’s question comes from Jerry through Ashley’s Instagram direct messages. Jerry is asking: I’ve finally made the plunge and bought three investment properties. After I rehab, rent, and refinance them, where can I get more money to invest? Is there a type of loan for investors or do I need to look into a hard money lender? Rental property loans are aplenty if you’ve found the right deal. Most veteran investors already know that once you have a good deal, it isn’t hard to find the money to fund it. But, before you build your rental property portfolio, you’ll need to know which options are out there. Don’t worry, you won’t need to spend months or years saving up for another large down payment. There are quicker ways to build a cash-flowing portfolio. Here are some suggestions: Go the commercial lending route and look into DSCR (debt service coverage ratio) loans Partner with another investor or a private money lender to finance your next down payment Cash-out refinance from your previous properties and recycle that money into your next deal Once you have some investing experience, reach out to hard money lenders and ask for their terms and rates And more in the episode… If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE). Links from the Show Real Estate Rookie Podcast Real Estate Rookie Facebook Group BiggerPockets BiggerPockets Hard Money Lenders Connect with Ashley and Tony: Ashley's Instagram Tony's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-220 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Real Estate Rookie, Episode 220.
0:08.8	My name is Ashley Care, and I'm here with my co-host, Tony Robinson.
0:13.5	And welcome to the Real Estate Rookie podcast, where every week,
0:16.9	twice a week, we bring you the inspiration, information, and motivation you need
0:20.9	to kickstart your investing journey. And I want to read a review from someone in the
0:24.2	Rookie audience. This review comes from Sarah Freyce, and Sarah says absolutely amazing,
0:29.2	I highly recommend listening to this podcast for some inspiration and to hear valuable tips
0:34.4	on how to get started in Real Estate Investings. Sarah, we appreciate you. And if you're a listener
0:38.7	of the Rookie podcast and you haven't yet left us an audience rating and review, please do
0:42.8	the more reviews we get, the more folks we can reach, the more folks we reach, more folks we
0:45.7	can help, which is our goal here at the Rookie podcast. So Ashley Care, what is going on,
0:50.9	how are things in your world today? Well, today was the first day of school for my children,
0:56.4	my little baby went to kindergarten. It's amazing the difference of your oldest going to kindergarten
1:02.8	than your youngest is like, yeah, the third one is off to school, but I drove him to school this
1:07.7	morning and then picked him up and yeah, did a good day. How far apart are they? So I have a
1:14.4	eight-year-old, a six-year-old, and a five-year-old. So a little, a year or two.
1:18.0	kindergarten first grade and third grade, yeah. Got you. Okay, man, time flies. I was selling
1:25.8	actually before we started recording that my son started high school about a month ago now,
1:30.1	a little over a month ago. And me and my wife Sarah, we were more emotional than he was.
1:35.7	Like after we dropped him off, we literally cried on the couch, like hugging each other because
1:39.0	we were so like, obviously happy that he's getting older, but it's also so sad to see your kids get
1:43.3	older in front of your eyes. So it's a weird, weird time as a parent. All right, I know we're all
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.