564: Difficult Tenants, Taking on Investors, & Leaving a Safe Job for Real Estate | Q&A w/Rob Abasolo

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 30 January 2022

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bad tenants? Funding hiccups? Scaling too fast? These are just some of the problems real estate investors have to deal with every day. What’s the prize for all this work? Financial freedom, personal fulfillment, and the time to do what you want, with who you want, wherever you want! It’s no surprise that real estate investing is one of the best ways for the average person to build wealth. But what do you do when things go wrong? Expert investor, agent, lender, and podcast host, David Greene, is joined by short-term rental pioneer and YouTube personality, Rob Abasolo, to answer questions from rookie and veteran investors. These questions are thrown at our experienced hosts without any prep, allowing them to come up with quick solutions that could answer a question you’ve been wishing someone would ask. David and Rob touch on topics that almost every investor will deal with, such as: how to take on private money for the first time, creative ways to fund your rehab, tips for setting up a short-term rental, when to quit your job and pursue real estate full-time, and how to get rid of headache tenants. In This Episode We Cover: Should you own real estate in an LLC or in your personal name? How to legally (and ethically) raise private capital for real estate deals The best ways to fund a rehab, especially when you’re low on cash The biggest mistake that short-term rental hosts make when setting up their first rental Valuing your time vs. money and when to quit your W2 Inheriting tenants and what to do when renters won’t pay on time (or at all) And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Rent Estimator BiggerPockets Forums BiggerPockets Talent Search BiggerPockets Rental Property Calculator BiggerPockets Pro Membership Submit Your Questions to David Greene David Greene Team David’s Instagram David’s BiggerPockets Profile Click here to check the full show notes: https://www.biggerpockets.com/show564 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast Show!
0:02.8	564.
0:05.0	That's what happened to me. I could not scale my Airbnb stuff.
0:08.5	I couldn't scale my YouTube platform. I couldn't scale anything
0:12.5	because I was working 40 hours a week.
0:14.4	And so I had to make that decision. It's time to quit because it's actually holding me back.
0:18.8	And the moment that I quit my full-time job, I was making $110,000 at this job.
0:24.4	I significantly, by many factors, increased my salary that same week.
0:29.4	And it's because I got 40 hours a week back to focus on everything that I was talking about.
0:38.2	What's going on, everyone? It is David Green, your host of The Bigger Pockets Podcast,
0:42.1	where it's our mission to teach you how to become financially free through real estate.
0:46.3	Now, we believe that Real Estate Investing is the best way for ordinary people to build wealth,
0:50.5	and we prove it by bringing you stories of people who started out right where you are right now.
0:55.6	Then we apply the simple but not easy framework. Look, real estate investing is definitely not rocket science,
1:01.2	but that doesn't mean that it's easy.
1:02.9	It's consistent steps in a positive direction that will get you big results over time.
1:08.9	Here today is my amazing co-host, Rob Abisolo. Rob, we tag team some live questions from listeners
1:16.4	who throw stuff at us and we don't know what's coming.
1:18.7	Oh, yeah, man. Not no softballs today. It was all curveballs, but I think, you know,
1:23.6	that's really nice, man. I think it's really interesting to kind of hear what other people are
1:28.4	struggling with because we've all been there. I've been there like every single question that we had,
1:32.3	I was like, oh, this is how I feel every day, you know, but when you get to examine problems from
	...

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