269: Rookie to Real Estate Investor: College Rentals, Airbnbs, & Plumbing Problems

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 15 March 2023

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

Don’t know what to do AFTER closing on a house? You’ve found your market, done your due diligence, passed your inspections, and now you’re asking, “what’s next?” Two of our three mentees are about to close on their first (and next) rental properties, but they don’t have to go in blind, thanks to the expert guidance of experienced investors Ashley and Tony. But we’re not just talking about a post-closing checklist. Instead, we’ll get into the nitty-gritty of getting a new short-term rental, how to handle inherited tenants, when to switch your investing strategy, and what happens when you discover a BIG plumbing problem in a property. We’re back to conclude our final meeting with our ninety-day mentees. Brandon, Lawrence, and Melanie have made MASSIVE strides to become real estate investors. Brandon and Melanie come back with deals under contract and close to closing, while Lawrence is looking to switch up strategies and potentially re-enter the cash-flowing world of college rentals. All the mentees have taken significant steps to success in just three months, and you can do it too! Stick around if you’re trying to get your next rental property under contract, as Brandon, Lawrence, and Melanie discuss why having community, accountability, and pressure for success took their investing to the NEXT LEVEL. If you want to break through your biggest goals, sign up for BiggerPockets Pro today and join our next Real Estate Rookie Bootcamp! In This Episode We Cover Investing in short-term rentals and how to set your house rules for new guests Out-of-state investing and closing on a rental property remotely Home inspections and why they’re almost ALWAYS worth the cost Inherited tenants, estoppel agreements, and what to do as soon as you buy a rental with tenants Delayed maintenance and what happens when you uncover pricey plumbing problems in a property Student rentals and using them to make more cash flow than a regular rental property Accountability, community, and why investing together can help you build wealth faster And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram Airbnb Apartments.com Avail BiggerPockets BiggerPockets Bootcam The BiggerPockets Money Podcast BiggerPockets Pro Hostfully MLS On the Market Podcast Real Estate Rookie Facebook Group Real Estate Rookie Podcast PriceLabs RentRedi Tony’s Short-Term Rental Shopping List Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls Rookie to Real Estate Investor: Seller Financing, STR Markets, & Lowball Offers Rookie to Real Estate Investor: House Offer Accepted! Now What? Connect with Brandon, Lawrence and Melanie: Brandon's BiggerPockets Profile Brandon's Instagram Lawrence's BiggerPockets Profile Lawrence's Instagram Melanie's BiggerPockets Profile Melanie's LinkedIn Check the full show notes here: https://www.biggerpockets.com/blog/rookie-269 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real State Rookie Episode 269er.
0:06.0	It's so fantastic the power that community has and a lot of us have probably heard the
0:12.7	saying that you're the average of the five people we spend the most time with and I think
0:16.6	that's so true and I don't mean this to sound like ruthless but right if you can if you
0:21.0	can protect your time who you spend your time with to the only the people that are on the
0:25.9	same journey as you only the people that are supportive of you and your goals and your
0:30.2	dreams and your ambitions like those are the kind of people that will help you make those
0:34.4	dreams a reality so it's so cool to see the three of you leaning on each other throughout
0:39.6	this process to to support one another it's a really cool thing to see my name is Ashley Care
0:45.3	and I'm here with my co-host Tony Robinson and welcome to the Real State Rookie Podcast where
0:50.6	every week twice a week we give you the inspiration motivation and stories you need to hear to
0:55.0	kick start your investing journey I want to shout out someone by the username of ksp 75 ksp said
1:00.8	love it I own a multi-family home and my family lives in part of the house so I have some exposure
1:05.2	to tenants and leases but Real State Rookie is fantastic to listen to you as it gives information
1:10.1	guidance and confidence to move to the next level of Real State investing I planted a
1:14.4	power every episode take notes read research and be 100% ready with absolute certainty to
1:20.7	balance on my next deal when the conditions are right for ksp we appreciate that five star
1:24.4	review and if you were part of the rookie audience and you haven't yet left us an honest reading
1:28.6	review take the two and a half minutes it takes to do that log into your phone open up the app
1:32.6	hit the five stars say what you got to say and we would be forever grateful for that
1:38.0	ash I'm excited we're gonna get to hang out in person on a few days here yeah next week as
1:44.9	of this recording we're doing meet up and a host retreat for all of the bigger pockets host I
	...

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