383: Rookie Reply: “Managing” Your Property Manager & How to Invest While in Debt w/Tiamo Wright and Mindy Jensen

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 22 March 2024

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

A property manager can alleviate the burden of screening tenants, collecting rents, and maintaining your property. But if you’re not careful, exorbitant fees and unexpected charges can quickly eat away at your cash flow. Today, you’re going to learn how to navigate this relationship and ensure that you’re getting these services at fair value! In this Rookie Reply, Mindy Jensen from the BiggerPockets Money podcast and Tiamo Wright, Director of Product and Marketplaces at BiggerPockets, are joining us to help field your recent questions. First, we discuss medium-term rentals and how they differ from both long-term and short-term rentals, as well as whether you should invest in real estate while you’re in debt. We also get into real estate development and some of the different ways to fund larger projects. Looking to buy your first short-term rental property but don’t know where to start? Our experts will point you in the right direction! 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 to “manage” your property manager (and approach conflict!) Whether you can invest in real estate while carrying student loan debt Creative ways to get financing for a new construction project How to buy and launch a short-term rental property The very FIRST step you should take when buying a rental property Mindy’s and Tiamo’s best real estate investing tips for rookies 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 Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Tune in to the “BiggerPockets Money” Podcast Hacking Your Life to Live for (Almost) Free with Craig Curelop How Nancy Rodriguez from ‘Love Is Blind’ Hit Financial Freedom BEFORE Fame ‘Building’ Wealth as a 24-Year-Old with 12 New Construction Projects Build Your Investor-Friendly Team The SMARTER Way to Invest in Real Estate Find Out if You’re Eligible for a NACA Loan Connect with Mindy & Tiamo Mindy's BiggerPockets Profile Tiamo's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/rookie-383 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 383.
0:05.0	Can you invest while wrestling with college debt and much more on today's episode?
0:11.0	My name is Ashley Kerr and I am here with Tony J Robinson.
0:15.0	And welcome to the Real Estate Rickey Podcast where every week, three times a week, we bring you the
0:19.7	inspiration, motivation, and stories you need to hear to kickstart your investing journey.
0:24.2	And today we'll discuss how to start your real estate development with a lack of funds and
0:30.6	what are the exact steps for buying and launching a short-term rental.
0:34.3	Now if you guys have a question or want to maybe drop a horror story of your own,
0:38.3	head over to bigger pockets.com slash reply
0:41.9	and we just might pick your story for the podcast. Now today we're
0:46.3	joined by two very very special guests. We have Tiamo who's an investor and
0:51.1	director of product and marketplaces at Bigger Pockets and we also have Mindy who is the host of BP money also an investor and an agent.
0:59.4	And last but not least we actually have a guest on today's episode to ask a question live for a rookie reply and we are going to be discussing supplies for a medium term rental and also what is a medium term rental and how is it different from long term and short term.
1:17.0	Let's say hello to Mindy and Tiamo our expert panel.
1:21.5	Welcome. Thank you for having me. I am so excited to be here.
1:25.0	Thanks I'm really excited to dig into some of these questions.
1:27.0	Okay well let's get into it and welcome our first guest.
1:30.0	Mitch thank you so much for joining us today live on the real estate rookie reply.
1:37.0	It's not often we get to bring someone on to ask their question and to also have an expert panel.
1:43.4	So Mitch, please tell us a little bit about yourself
1:45.8	and then hit us with that hard-hitting question
1:47.9	that's just nagging at you to get answered.
	...

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