247: From $40K in Debt to 4 Properties and How to Snag a Low Mortgage Rate in 2023 w/Lindsey Iskierka

Real Estate Rookie

BiggerPockets

How To, Education, Entrepreneurship, Investing, Business

4.7 • 1.8K Ratings

🗓️ 28 December 2022

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

Low mortgage rates, sneaky homebuying strategies, and getting into (and out of) debt, Lindsey Iskierka's story has it all. As the lead real estate agent on the SoCal David Greene team, Lindsey is in the thick of real estate day in and day out. But she’s not just helping others buy and sell homes, she also boasts a respectable rental property portfolio, with four units sprawled out across the states in three completely different markets. And even though Lindsey is in the real estate game now, it wasn’t always this way. Back in 2015, Lindsey wasn’t making much after getting her grad degree. With her husband interested in real estate, they decided to go to a seminar, which later turned into a $40K debt they had to climb their way out of. Lindsey decided to get her real estate license to not only help pay off this debt but save enough to buy their first home—a house hack in Long Beach. It didn’t take long for the home to appreciate, leaving Lindsey and her husband with a hard choice—sell or refi the property. We won’t spoil the story, but her choice allowed her to buy multiple other units across the country, which has now become a portfolio of short-term and medium-term rentals. Lindsey also gives some killer advice on how first-time homebuyers and investors can snag rock-bottom mortgage rates in 2023. We’re talking two percent lower than today’s rate! If you want to hear how you can lock in a rate below five percent, we suggest you stick around! In This Episode We Cover Are real estate courses ever worth it, and how much they actually cost The new 2-1 buydown mortgage that'll get you a much lower interest rate Getting past your “worst-case scenario” and how doing so can help you build much bigger The 1031 exchange explained and using it to multiply your rental property portfolio Long-distance real estate investing and why turnkey rentals may be a better choice The VASH program investors can use to help veterans who need housing Why buying at today’s rates and prices can “only get better” as you hold And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Real Estate Rookie Facebook Group BiggerPockets The Real Estate Podcast BiggerPockets Events BiggerPockets Instagram The Real Estate Rookie Podcast GoBundance Women PriceLabs Guesty Airbnb The One Brokerage David Greene's Website Connect with Lindsey: Lindsey's BiggerPockets Profile Lindsey's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-247 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

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0:00.0	This is Real Estate Rookie episode 247 and there's a program that was recently released
0:07.5	called the 2-1 buy-down. It's not an adjustable rate mortgage. Basically, it's saying,
0:12.4	hey, right today our 6% was due 6% for easy math. For the first year that you own the property,
0:18.4	you're going to have 4% interest rate. The second year you own the property, you're at a 5%
0:22.3	interest rate. Year 3, you go to 6%. There's no prepayment penalty and it's not an adjustable
0:27.9	rate where you're subject to the market rate at that time. So in three years, if rates are
0:32.1	10%, 11%, 12%, we can't even fathom that, right? But rates have been there.
0:36.5	My name is Ashley Care and I'm here with my co-host Tony Robinson.
0:40.5	And welcome to the Real Estate Rookie podcast where every week, twice a week, we're bringing
0:44.4	the inspiration, motivation, and stories you need to hear to kickstart your investing journey.
0:48.8	And I want to start off today's episode by shouting out Nick Haldon 5621, who'd love to say
0:53.6	five star review on Apple podcasts. Nick said, I recently started listening to podcasts and I
0:58.2	really liked the way both you conduct the show, the way you ask questions, the way you share your
1:02.4	experiences. It really gives a lot of insight and knowledge. Just someone like me who is planning
1:06.6	to buy his first investment property, keep up the good work. Nick Haldon, we appreciate your
1:10.0	brother. And if you're listening to the show and you have not yet left us an honest reading
1:14.0	review, please do on Apple Spotify, whatever platform you're listening to, the more reviews we get,
1:18.8	more folks we can help and help the folks is what we do around here. Isn't that right, Ashley?
1:22.5	Yes, it is. And speaking of all of our wonderful listeners, especially the ones that leave us five
1:28.8	star reviews, we are going to be in Denver on February 23rd with almost all of the podcast
1:38.0	hose from every bigger pockets podcast. And we're going to be having a meetup in Denver. So
1:44.0	make sure you guys go to biggerpockets.com slash events to check out what we have in store for
	...

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