69: Putting Rentals on Autopilot While Living in the Dominican Republic with Becky Nova

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 14 April 2021

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

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Summary

Becky Nova didn’t have a linear path to real estate like many others. She’s had times in her life when she was poor and times in her life when she was rich. Becky knew that she didn’t want to go back to those poorer times in her life, so when she was about to marry her husband, she was pushed to get herself out of debt and into a much more stable position. She worked a consulting gig, got herself debt-free, and decided she wanted to start house hacking! Now, Becky is off in the Dominican Republic, running her entire portfolio of 10 houses completely remote. Even more impressive, Becky used traditional financing for those rental properties! So how does she manage properties all the way in upstate New York while she’s thousands of miles away on the beach? Well-tailored systems and procedures is what Becky relies on. She refers to her phone as one of the best tools for real estate, since she can call her agent, her tenant, or her contractor whenever she needs something. Becky proves that you can run a rental portfolio long distance, and do it successfully to boot! This did take Becky some time, though. She designed the life she wanted and made her rental properties fit around that life, which is sometimes the opposite of what us busy real estate professionals do. Now, she can relax and enjoy her time travelling because she put the systems in place to automate her business! In This Episode We Cover Understanding what you really want and making your business fit your ideal life Getting off the “paycheck to paycheck” hamster wheel How Becky got 10 units in just over 2 years Joining local networking groups and your chamber of commerce to find deals How to find the best plumbers, contractors, electricians, and more through referrals Having systems in place so your business can run itself And So Much More! Links from the Show Brandon Turner Zillow Real Estate Rookie Facebook Group Dave Ramsey DealCheck Rentometer Realtor.com BiggerPockets Calculators BiggerPockets Insights Rookie Podcast 10: 2 Long-Distance Rentals with $0 Down with Tony Robinson Lady Landlord's Financial Cheat Sheet Check the full show notes here: http://biggerpockets.com/rookie69 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie episode number 69er
0:07.0	There is no reason in this day and age that people should be going door-to-door picking up rent checks checks
0:13.0	Who uses checks? We don't need to be doing this anymore
0:16.4	There's always a way to do something electronic whether if it's those payments there
0:20.0	That's the first and not your goal. There was no reason you should be doing that month
0:24.3	My name is Ashley Care and I am here with my co-host Tony Robinson
0:30.4	And once again, we are back with another episode of the Real Estate Rookie podcast
0:36.2	Yeah, this time Ashley's doing her like TV host thing with the mic in her hands
0:40.4	If you watch my YouTube you can see and if you're not watching it's on YouTube just go back and at least watch the intro and
0:46.0	See Ashley do her really dramatic spin chair to kick the episode off
0:49.9	I've had to use three microphones today. We had two different recordings and so I'm on to my third mic
0:55.7	But it's actually the most fun because I can take it out and I can dance around and do some things with it like a a weather girl
1:03.4	That would be great
1:04.5	So if if our podcasting careers ever fail at least who know we've got it back up is weathermen and weather women
1:11.0	For the local Buffalo TV show
1:14.3	Before we talk about today's guess, Ashley would you like give an update like in our life?
1:18.4	I know you put some deals in recently like what else is going on in the real estate side for you
1:23.1	Yeah, so I'm trying to help my brother buy a house hack in Rochester
1:27.6	So we're actually doing it through a wholesaler
1:30.4	So we put in two offers one is in negotiations the other one we haven't heard back on yet
1:36.7	And they yeah, I think those are oh and then I have like two offers that are still like pending that I put in a couple months ago
1:45.7	But the properties haven't sold and they haven't like said no
	...

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