335: 8 Rentals in UNDER 1 Year: A Rental Property Financing Masterclass w/Tim Yu

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 1 November 2023

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

Buying eight rental units in under one year—how is that even possible? By the time you’re done with this episode, you’ll know how to fund any rental property purchase, no matter how much money or experience you have. And if Tim Yu can build a rental property portfolio AND do multiple house flips in less than twelve months when he had close to nothing in his bank account this time last year, you can, too. Tim is a true Real Estate Rookie. He spent over a year listening to every episode of the show on his way to and from work. After getting fed up with analysis paralysis, Tim threw in a lowball offer on a potential BRRRR (buy, rehab, rent, refinance, repeat) property. His offer was accepted! The problem? He had NO money to buy it. Fast forward a year; Tim has done ten deals, owns eight rental units, and is getting closer to leaving his W2 job. In this episode, Tim reviews EVERY (and we mean EVERY) type of rental property financing. From hard money loans to credit cards, selling off retirement accounts, and partnerships. Whether you’ve got the funds or not, Tim will walk through EXACTLY how to get your first (or next) rental property! In This Episode We Cover: Rental property financing 101 and how to invest in real estate with no money Creative financing, subject to, and doing deals WITHOUT using banks How to instantly boost the cash flow on your long-term rental property Investing with partners and where to meet the most legit ones Crooked contractors and how to avoid getting scammed on your first rehab And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Real Estate Rookie Podcast 329 on VA Loans Real Estate Rookie Podcast 330 with Serena Norris Invelo REIPro Privy RentRedi Books Mentioned in the Show: Real Estate Partnerships by Ashley Kher & Tony Robinson Rich Dad Poor Dad by Robert Kiyosaki Who Not How by Dan Sullivan Connect with Tim: Tim's BiggerPockets Profile Tim's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-335 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 335.
0:04.8	My name is Ashley Care, and I am here with my co-host, Tony J. Robinson.
0:09.1	And welcome to the Real State Rookie podcast, where every week,
0:12.4	twice a week we've been using the inspiration, motivation, and stories you need to hear to kickstart
0:16.9	your investing journey. And today, we've got someone who's like a born,
0:21.6	bred, raised in the, you know, the, the bask of all things bigger pockets.
0:26.8	We got Tim U on the podcast, and he's been a faithful listener for quite some time.
0:31.2	I said, listen to the podcast every day for almost two years, but really use everything he learned
0:36.0	in the podcast to really kickstart his investing journey. The guy closed on 10 deals in a year,
0:42.7	a little less than a year actually, and you'll get to hear exactly how he made that happen.
0:46.5	Yeah, I love how we go through every single deal. So listen to him talk about all the ways he was
0:52.3	able to finance these deals. Not one was funded the same exact way. So he's going to break down
0:59.0	each deal he did and how he was able to get financing for them or get a very creative
1:07.0	when deal. He only paid $2,000 out of pocket and didn't have to go and get a bank loan. So he
1:12.4	explains how he was able to do that. He even got paid to buy a property. He went to the closing
1:17.6	table and got a check back. So you'll get to hear how he made that happen. But overall,
1:22.0	Tim is just like, I think a shiny, shining example of what happens when you're a big part of
1:28.0	the bigger pockets community. He was active on the real estate working Facebook group and the
1:32.4	YouTube channel on the actual podcast itself and the forums. And it's like when you do those kinds
1:36.8	of things, good things typically happen. So if you're part of the rookie community and you haven't
1:41.6	yet, we would love you to leave us an honest rating and review. We're at 1,595 ratings as of
1:47.7	this recording. So hopefully a lot of times it's air is we're at like 1700. We should be there
	...

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