613: 6 Bite-Sized Steps to Buying Your First Rental Property
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 24 May 2022
⏱️ 65 minutes
🔗️ Recording | iTunes | RSS
🧾️ Download transcript
Summary
Buying an investment property is a lot like exercising. At first, you don’t know any of the verbiage, then you start learning the tools, and finally, after some repetition (and help from those around you), you can become a real estate (or jiu-jitsu/weight lifting/yoga) expert! Think of David Greene and Rob Abasolo as your spotters for today’s deep dive into buying a rental property. Their advice will help you lift the weight, even if you feel uneasy at times!
David and Rob, unsurprisingly, started out like everyone else in the real estate investing space. They had no deals, no experience, and not a lot of money. But, over the past decade, both have become experts in their specific investing niches—through trial and a lot of error. Now, they bring you more than a decade worth of combined experience so you can stop hesitating and start taking action.
If 2022 is the year for you to start building wealth and pave your path to financial freedom, then this is THE episode to listen to. David and Rob discuss the five most common rookie real estate mistakes and six bite-sized steps that will allow you, no matter your experience, to buy your first, or next, real estate deal. They’ll also give a full walkthrough on how to analyze a real estate deal, plus a special bonus that will allow you to hyper-accelerate your growth in the real estate investing world!
In This Episode We Cover
The two biggest hurdles that stop people from ever investing in real estate
The wealth-building “pillars” that all investors must know before they start investing
Five common mistakes that almost every real estate rookie will face
Why new investors should “commit” before they start educating themselves
Using your network around you to find real estate leads, financing, and contractors
How to analyze a deal for free using the BiggerPockets Rental Calculator
And So Much More!
Links from the Show
Invest in David and Rob’s Next Property
Grab Your Tickets for BPCon 2022
Get a Special Discount on BiggerPockets Pro Using Code “REPOD22“
Find an Investor-Friendly Agent in Your Area
Hear Our Episode with Rent By the Room Expert Todd Baldwin
Watch David’s Interview with CNN on Rising Interest Rates
Work with David’s Team at The One Brokerage on Your Next Home Loan
Connect with David:
David’s BiggerPockets Profile
Connect with Rob:
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Transcript
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| 0:00.0 | This is the bigger pockets podcast show six thirteen |
| 0:04.6 | So you're the ten year from now version of yourself can either say thank you |
| 0:10.1 | 2022 David for making the decisions that you made that made me more physically fit or financially fit better |
| 0:16.6 | Relationships happier person better life better family or you can look back and say man |
| 0:21.1 | I wish I would have done something before and this is the same thing if you start right now |
| 0:25.8 | And you look back at 2012 version of you are you really glad with the decisions you made what you committed to what you invested in |
| 0:32.0 | Or you kicking yourself saying I should have bought more real estate. I should have started investing |
| 0:36.9 | I should have got more serious. I should have dove in deeper |
| 0:45.8 | What's up everyone my name is David Green and I'm your host of the bigger pockets real estate podcast here today with my co-host |
| 0:51.8 | The amazing infamous and talented Rob |
| 0:56.1 | Abisolo Rob and I are teaming up to bring you an episode specifically directions words newbie on today's show |
| 1:02.4 | We're going to get into the five mistakes and six steps making 11 things that you need to know to make money in real estate |
| 1:09.3 | Rob welcome to the show. How are you today? I'm doing good man |
| 1:13.0 | I'm like I'm excited to get into this because I'm really at the helm of today's ship of the the proverbial |
| 1:18.8 | The the proverbial podcast ship really taking us through kind of the journey here |
| 1:23.7 | Hopefully helping some newbies out and you have kind of nudging people along, you know like that |
| 1:28.4 | That's kind of what today's episode is is like hey, I know it's a little scary to get into real estate |
| 1:32.6 | But let's freaking do this thing man. This is what life is about taking risks and kind of working towards that financial freedom |
| 1:38.7 | And for those of the people that you know kind of get caught up on the the analysis side of things |
| 1:43.2 | We're actually going to even be |
| 1:44.7 | Analyzing a deal in a very very hot market today that you know |
| 1:48.8 | I don't want to give too much away |
... |
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