380: Rookie Reply: How to Start Investing, Walking Away from Deals, & Co-hosting

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 15 March 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

You want to start real estate investing, but where should you start? Should you buy a course, join a mastermind, or do your own research? There’s no one-size-fits-all approach to investing, but we can point you in the direction that aligns with your investing goals! Welcome back to another Rookie Reply! In this episode, we’re going to start at square one of your real estate journey. We also get into investing partnerships and how to work “sweat equity” into your partnership agreements. Have you ever come across a property with red flags? Learn when to walk away from a deal and when to double down instead. Finally, stick around until the end as we bring repeat guest Nicole Rutherford on to talk about starting a co-hosting business, vetting co-hosts, and finding a short-term rental market! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How and where to begin your real estate investing journey When to walk away from a deal (and when to double down!) How to structure a real estate partnership (and account for “sweat equity”) Finding the right co-host to help manage your rental property Expert tips for finding a new short-term rental market And So Much More! Check the full show notes here: https://www.biggerpockets.com/blog/rookie-380 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 estate rookie episode 380.
0:05.0	Are you wondering where to start as a rookie investor?
0:08.0	Should you pay for a course or should you self-educate?
0:11.0	We're going to talk about that and so much more today. My name is
0:14.0	Ashley Kerr and I am here with my co-host Tony J Robinson.
0:18.2	And welcome to the Real Estate Rookie Podcast where every week three times a week,
0:22.6	we bring you the inspiration, motivation, and stories
0:26.0	you need to hear to kick shot your investing journey.
0:27.8	And today we're going to be discussing a few topics,
0:30.3	one of which being, how do you structure a partnership split based on the amount of capital and
0:35.1	sweat equity that someone's bringing.
0:37.4	When should you walk away from a deal versus doubling down and will also be joined
0:42.4	alive with Ricky guest Nicole Rutherford who you might remember from
0:46.2	episode 373 to hear what questions to ask if you want to manage someone else's Airbnb as a co-host
0:54.7	and just general tips for getting into a new
0:57.3	short-term rental market and more.
0:59.2	But our first question up is about where to even start as a real estate Ricky.
1:04.3	Okay so our first question today is from Spain MK.
1:08.8	Super rookie question, highly interested in real estate investing,
1:15.0	where do I even want to start to learn? The last two years I've immersed myself in the BiggerPockets of Money Podcast,
1:19.0	plus others, to get my money mindset straight and this worked.
1:23.4	First of all, congratulations, that's awesome.
	...

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