Stuck at ONE Rental Property? The Secrets to Scaling Your Portfolio

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 24 January 2025

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is it possible to scale your real estate portfolio in this market? What if you only have one income? Getting past one rental property is a huge hurdle in every investor’s real estate journey, but increasing your rental income and lowering your mortgage costs can help you maximize your cash flow and get over the hump. And in this episode, we’ll show you how! Welcome back to another Rookie Reply! Today, we’re diving back into the BiggerPockets Forums and answering your questions. First, we’ll hear from an investor who wants to scale their portfolio but feels stuck with one rental. We’ll show them how to squeeze more money out of their property and fund their next purchase. Our next question is from an investor who wants to refinance a “unique” property that doesn’t have comparables. What type of loan do they need? Should they sell the property? Stay tuned to find out. Finally, we’ll help a few landlords with some “unusual” rental maintenance headaches! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Whether you can build and scale a real estate portfolio on ONE income House hacking, renting by the room, and MORE ways to grow your rental income Homeowners insurance, property taxes, and MORE mortgage costs you can reduce How to turn your accessory dwelling unit (ADU) into a short-term rental Creative ways to get refinancing for a “non-traditional” rental property How to handle unusual (or unreasonable) maintenance requests from tenants What you MUST keep in mind when working with Section 8 tenants And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube AirDNA Ownwell Land More Off-Market Deals with Crucial Property Owner Contact Information from DealMachine Ask Your Question for a Future Rookie Reply Grab the Book “The Self-Managing Landlord” Find Investor-Friendly Lenders Real Estate Rookie 443 - How to Use “Asset Management” to Build Wealth (Even with a Small Portfolio) (00:00) Intro (01:01) Scaling with 1 Income (11:14) Refinancing “Unique” Properties (17:08) “Unreasonable” Maintenance (26:05) Section 8 Tenants (31:37) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-514 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	Let's get your questions answered.
0:07.2	I'm Ashley Care.
0:08.8	And I'm Tony J. Robinson and welcome to the Real Estate Rookie Podcast.
0:12.6	We're every week, three times a week, we bring you the inspiration, motivation, and stories you need to hear to kickstart your investing journey.
0:19.6	We are about to get into some questions from the bigger pockets forums that other rookies
0:23.4	like you have asked.
0:24.9	Also, go check out the forums if you haven't already.
0:27.5	They are honestly the best place for you to quickly get all your real estate investing questions
0:32.1	answered by the many different experts in there.
0:34.9	So here are a few of the things we're going to discuss on today's
0:37.7	episodes. First, we'll talk about scaling in this current market, especially when your family
0:42.6	is going down to one W2 income stream. We'll also talk about a refinancing strategy for maybe
0:48.9	some untraditional type properties. And then we're going to end the show with a couple of property
0:53.2	management questions and how to handle unusual or expensive tenant maintenance request. Okay, let's get
1:00.5	into the show. All right. So our first question says, my wife and I recently bought our first home
1:05.4	in the Colorado Springs area close to the Garden of the Gods and other attractions in the area.
1:10.6	Our interest rate is a whopping
1:12.5	7.1%. The main house has four bedrooms, two baths, and our mortgage is just over $4,000 per month.
1:20.3	The property that we bought has an ADU on the side of it, completely independent from the main
1:25.6	unit that we live in. We're currently renting it out
1:28.3	for a two-year tenant long-term for 1545 per month. It's a one-bedroom, one bath. So here's a
1:34.7	question. What are some ways to scale, especially in this current market, or what are ways to
	...

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