The hardest part of real estate investing is, of course, getting started. Once you have your first rental property, it’s much easier to scale your real estate portfolio than you might think—even if you don’t have much money to your name!
Earning modest salaries from their nine-to-five teaching jobs, Rob Schou and his wife couldn’t afford a large down payment on an expensive property. But by starting multiple side hustles and sharpening their DIY home renovation skills, they were able to purchase a cheaper property and add value to it. The best part? This created a “domino effect,” giving them more capital and momentum for future deals. Even when they didn’t have everything figured out, taking action and having multiple exit strategies meant they always turned a profit—even when a project didn’t go to plan!
In this episode of the Real Estate Rookie podcast, you’ll hear about some creative side hustle ideas you can use to fund your next down payment. You’ll also learn how to choose a niche that aligns with your long-term goals, as well as how to build your “buy box” and find the right market. But that’s not all. Rob even dives into new construction, showing you how to buy land, vet builders, and more!
In This Episode We Cover
The “domino effect” and how ONE deal can help you land your next deal
How to find the perfect investing strategy for your long-term goals
How to build your “buy box” and choose a market to invest in
Lucrative side hustles that can help fund your next down payment
Why you MUST have multiple exit strategies for every new deal
How to properly vet a builder for new construction projects
And So Much More!
(00:00) Intro
(00:58) Buying the Vacation Home
(10:51) Side Hustling for Down Payments
(16:39) Analysis Paralysis & Finding Your Niche
(24:16) New Construction 101
(28:26) How to Vet a Builder
(36:17) Choosing Your “Buy Box” & Market
(42:37) Connect with Rob!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-402
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
Want more cash flow with less stress while running your rental property portfolio? Then you need self-management! Amelia McGee and Grace Gudenkauf, seasoned investors and the minds behind BiggerPockets’ newest book, The Self-Managing Landlord, show you exactly how to do it. This episode peels back the curtain on the misconceptions that scare most investors away from self-managing their properties (like those feared 2 AM toilet emergencies!). Amelia and Grace expose how these scenarios are less frequent than most people think and offer smart strategies to handle them effortlessly.
The duo dives into the financial perks of taking the reins on property management, from dramatically cutting costs to boosting tenant retention and cash flow. They lay out a spectrum of management models—from DIY to hiring a dedicated team—and share their personal triumphs (and trials) within each approach. This is THE practical playbook for making property management a cornerstone of your real estate success.
You’ll learn how to establish effective systems for tenant onboarding, routine maintenance, and urgent repairs, ensuring your property management is both stress-free and profitable. Whether you’re just dipping your toes into real estate investing with your first property or looking to refine your existing portfolio, this episode is packed with actionable tips that promise to make your portfolio more passive!
In This Episode We Cover:
How to lower your costs and boost your cash flow significantly with self-management
What being a landlord is actually like, and why it’s not all 2 AM toilet calls
Building your real estate team so you can handle less of the day-to-day and focus on the big picture
Practical advice for setting up systems that streamline tenant onboarding and property maintenance
Grace’s $8,500 bookkeeping mistake that you CAN NOT afford to make
Tips for handling urgent property issues with WAY less stress
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Get Tips, Advice, & Support in the BiggerPockets Forums
Get RentRedi Property Management for FREE with a BiggerPockets Pro Membership:
Real Estate Rookie 111 - 26 Doors in 1 Year? Here’s How You Can Do It Too! w/Amelia McGee
Tools Mentioned in Today’s Show:
Connect with Amelia:
Amelia's BiggerPockets Profile
WIRE (Women Invest In Real Estate)
Connect with Grace:
(00:00) Intro
(01:10) The Right Way to Manage Rentals
(04:42) What Being a Landlord is Like
(08:20) Why You MUST Self-Manage
(14:42) Onboarding Tenants 101
(20:41) Lease Agreements
(26:56) The $8,500 Mistake
(30:08) Do This RIGHT Now!
(35:09) Building Your Team
(41:40) Grab the Book!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-401
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
This episode could make you $40,000. Seriously, one property management mistake cost our own expert investor, Dave Meyer, anywhere from $30,000 to $40,000, BUT it’s easier to avoid than you think. If you’re a rookie real estate investor, this single mistake could sink your portfolio and put you back years on your journey to financial freedom. So, what’s the mistake you must avoid, and how do you circumvent it to make more money while having less stress? It’s Real Estate Rookie episode 400, so let’s save you $40,000!
Dave has been investing for over a decade, and he’s made his fair share of mistakes, but this one takes the cake. One simple property management judgment error sent his short-term rental trajectory off a cliff, with a filthy house, no bookings during the peak season, safety problems that left his property in jeopardy, and guests leaving less-than-flattering reviews. But this is a mistake anyone can make, so how do you avoid it?
In today’s episode, we’ll get into the nitty-gritty of what cost Dave $30,000 - $40,000, the exact way he’d prevent this from ever happening again, what you should look for in a property manager BEFORE you hire them, and the contract clause that could kill your cash flow!
In This Episode We Cover
The one property management mistake that could cost you up to $40,000
Property management fees and how to tell a company is a little too cheap
Signs you need to fire your property manager before it’s too late
The one short-term rental contract clause that could ruin your entire year
How Dave’s house almost froze thanks to overlooking one BIG utility
And So Much More!
(00:00) Intro
(03:12) Buying a Property ASAP!
(06:57) Great Property, But…
(12:23) One Big Mistake
(16:05) Things Go Really Wrong
(20:07) Losing A TON of Rent
(22:48) Costly Lessons Learned
(28:43) Get a REAL Property Manager
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-400
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
What’s YOUR reason for investing in real estate? For today’s guest, it was to achieve financial freedom and have a flexible schedule. By focusing on education, forming partnerships, and, most importantly, taking action, she was able to quit her job and acquire seven properties in just THREE years!
Welcome back to the Real Estate Rookie podcast! Sarah Msuya was firmly entrenched in her successful banking career when life threw her a series of curveballs. After her son was born prematurely and complications caused her to miss nine months of work, Sarah knew that a traditional nine-to-five was no longer an option for her and her family. She spent the next three years learning as much as she could about real estate and building a portfolio that provides $80,000 in cash flow per year!
Like many new investors, Sarah has dabbled in several investing strategies on her journey to financial freedom—from house hacking to flipping houses and everything in between. Eventually, she was able to pin down her niche—the BRRRR method. In this episode, you’ll learn how to find the best strategy for YOU and scale your portfolio through partnerships and creative financing!
In This Episode We Cover:
How Sarah brings in $80,000 cash flow each year from seven properties
Why you DON’T need to look ten years ahead before investing in real estate
How to cover your mortgage payment with the house hacking strategy
Three property management strategies you can use for your rental property
How to scale your portfolio FAST with partnerships, creative financing, and more
FHA loan limits explained (and how to avoid a surprise at closing!)
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Get Tips, Advice, & Support in the BiggerPockets Forums
Grab Your Copy of “Real Estate Partnerships
Real Estate Rookie 207 - Working Towards Time Freedom “In the Trees” with 3 Treehouse Rentals:
Real Estate Rookie 742 - How to Achieve Financial Freedom Through Real Estate in 4 Steps:
Connect with Sarah:
Eileen's BiggerPockets Profile
Sarah's Bigger Pockets Profile
Jump to topic:
(00:00) Intro
(00:50) HUGE Life Changes
(06:42) $80K/Year Cash Flow!
(13:31) Sarah’s First House Hack
(20:52) How to Scale FAST
(27:51) Property Management 101
(31:57) Connect with Sarah!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-399
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
Small multifamily real estate investing can lead you to financial freedom faster than you think. Compared to traditional single-family rental properties, small multifamily properties often offer more cash flow, the ability to scale quicker, and less competition than the properties every first-time home buyer is looking for. Small multifamily investing is so good that it remains seasoned investor Dave Meyer’s favorite way to invest after over a decade of investing in rental properties. So, how do you get started?
In this episode, we’ll walk through the three beginner steps anyone can take to start investing in small multifamily real estate. We’ll show you how ANYONE can get into this asset class, even with ZERO experience, why small multifamily is the perfect “sweet spot” for rental property investing, and how to overcome the biggest challenges to getting your first deal.
But that’s not all. We found a small multifamily rental property for sale and go step-by-step through it, analyzing it within minutes so YOU can do the same for your first or next property. Small multifamily is the perfect place to start your real estate investing journey, and after you watch this episode, you’ll have EVERYTHING you need to start investing!
Ready to become a BiggerPockets Pro? Click here to sign up and use code “MULTIPOD24” for a special discount!
In This Episode We Cover:
Why small multifamily real estate is the perfect “sweet spot” for rookie investors
How to get to financial independence faster than you think with duplexes, triplexes, and quadplexes
The easiest way to find deals in your target market (for FREE!)
How to analyze a real estate deal from start to finish in just minutes
The #1 challenge to real estate investing and a simple solution to overcome it
Our favorite real estate investing tool that’ll help you do your first or next deal even faster
And So Much More!
Links from the Show
Real Estate Rookie Facebook Group
Get 20% Off a BiggerPockets Pro Membership with Code “YTMULTI24”
Analyze Deals in 5 Minutes or Less with Our Rental Property Calculator
Determine Monthly Rent with Our Rent Estimator Tool
Book Mentioned in the Show
Real Estate by the Numbers by Dave Meyer and J Scott
Jump to topic:
(00:00) Intro
(05:43) Want Financial Freedom?
(10:11) ANYONE Can Do It
(11:47) The Investing "Sweet Spot"
(12:57) Why Small Multifamily?
(16:16) 1. Where to Find Properties
(20:09) 2. How to Analyze Multifamily
(31:23) 3. How to Get Financing
(36:08) Scared to Invest?
(38:44) The One Tool You NEED
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-398
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
If you own a rental property, it’s YOUR responsibility to provide a safe environment for tenants. This starts with things like tenant screening, security upgrades, and most importantly, acting swiftly when a resident is in danger!
Welcome back to the Real Estate Rookie podcast! Eileen Daugherty is not only the property management business consultant here at BiggerPockets but also a fellow real estate investor, and today, she joins the show to talk about property management, new construction homes, and the importance of tenant safety. Eileen even shares her own real estate horror story, which occurred shortly after buying her first rental property and renting it out. You’ll hear how a neighbor’s seemingly innocent “crush” quickly escalated into a situation where her new tenant was being stalked, hacked, and harassed!
In this episode, Eileen shares the biggest learning lessons from this unfortunate experience and the MAJOR changes she made to improve tenant safety at her properties—from installing security cameras to providing virtual private networks (VPNs) and much more. But that’s not all! Stick around until the end to learn what it’s like to invest in the fast-growing market of Asheville, North Carolina!
In This Episode We Cover:
How to keep your tenants safe with landlord best practices
Why it’s worth building relationships with your neighbors and tenants
How to find an investor-friendly property manager for your rental properties
The three most important factors for choosing an investing strategy
How to scale your portfolio FAST with new construction homes
The pros and cons of investing in the Asheville, North Carolina market
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Get Tips, Advice, & Support in the BiggerPockets Forums
Real Estate Rookie 203 – The Ultimate Property Management Masterclass
Real Estate Rookie 389 – Rookie Reply: How to Find a Property Manager & Set Up Rentals Out of State
3 Ways to Enhance Rental Property Security
Connect with Eileen:
Eileen's BiggerPockets Profile
(00:00) Intro
(50:00) Eileen’s Investing Portfolio
(05:17) The Asheville Horror Story
(08:23) Stalked, Hacked, & Harassed!
(17:12) Relisting the Property
(20:27) The BEST Security Additions
(27:21) Building a Team & New Construction
(32:02) Investing in Asheville, NC
(35:26) Connect with Eileen!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-397
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
You want to invest in real estate, but you don’t have the money. Are you out of luck? Good news—money is NOT a dealbreaker. There are several levers you can pull to get the capital you need, and today’s guest is going to share them with you!
Welcome back to the Real Estate Rookie podcast! Shortly after being cut, former professional football player Darnell Leslie was determined to try his hand at real estate investing. There was only one problem: he needed money. But, after convincing some family members to partner with him, Darnell quickly realized that he could use other people’s money to fund ALL of his real estate deals. He started building his network and found private money and hard money lenders, using a polished private capital “pitch” to bring them on board. Over the last few years, he has completed five deals using very little of his own money!
Is money the ONE thing stopping you from buying real estate? In this episode, you’ll learn everything you need to know to start using other people’s money instead. From structuring private money and hard money agreements to buying materials for your renovation projects, Darnell walks you through each step!
In This Episode We Cover:
How Darnell uses other people’s money to fund his real estate deals
How to start raising private money today (tips for new investors!)
Why you MUST have multiple exit strategies when buying property
The private capital “pitch” to help you raise funds for your next investment
How to structure your private money and hard money agreements
The interest-free way to buy materials for your rehab projects
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Get Tips, Advice, & Support in the BiggerPockets Forums
Rookie Podcast 275 - From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!)
Book Mentioned in the Show
Rich Dad Poor Dad by Robert Kiyosaki
Raising Private Capital by Matt Faircloth
Connect with Darnell:
Darnell's BiggerPockets Profile
(00:00) Intro
(01:23) Football Player to Investor
(09:26) The Private Capital “Pitch”
(17:39) Structuring an Agreement
(23:44) Using OPM & Choosing a Strategy
(31:59) How to Find & Analyze Deals
(40:46) Funding Rehab Projects
(50:04) Connect with Darnell!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-396
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
House hacking and renting by the room are two of the easiest ways for rookies to dive into the world of real estate investing. Both investing strategies are affordable, low-risk, and easy to implement. The best part? They can help cover your mortgage payment each month and give you MORE money to invest!
Welcome back to another Rookie Reply! Want to earn some extra cash flow by adding an accessory dwelling unit (ADU) to your rental property? In this episode, we’ll show you how to present your plan to the city and get your new unit approved. If you need money for a down payment, you’ll want to hear about the creative method one of our recent guests used to come up with funds. We even talk about buying abandoned houses—how to locate the “missing” owner and swoop in with your irresistible offer!
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
House hacking explained (collecting rents, renovations, and tax benefits!)
How to add an accessory dwelling unit (ADU) to an existing property
Creative ways to fund the down payment for your next rental property
How to find the owner of an abandoned house and make an offer
Why you MUST have a lease agreement in place when renting by the room
How to remove squatters from your property (with a 100% success rate!)
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-395
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
Added home renovation costs can ruin your plans to own the perfect rental property. When this happens, how do you come up with the extra funds? More importantly, how do you prevent this from happening altogether? We’ve got plenty of answers for you in today’s episode!
Welcome back to the Real Estate Rookie podcast! Jessica Bryant Walton owns several doors in Anchorage, Alaska. As you’re about to find out, investing where winters are long, water damage is common, and frozen pipes are everyday occurrences isn’t for the faint of heart. Jessica and her husband had just bought a duplex, only to find out that the previous owner had disguised a MAJOR leak and extensive damage with a second roof. What they anticipated would be a $40,000 rehab ended up costing over $130,000!
Fortunately, Jessica and her husband came up with creative ways to fund their renovations, increase rents, and lower their overhead by self-managing the property. But there are valuable lessons to take away from their experience. You’ll learn why you should consider getting your real estate license, how to find the best contractors for your rehab projects, and the importance of always keeping a paper trail!
In This Episode We Cover:
How Jessica’s $40K renovation turned into a $130K+ “nightmare” rehab
Self-management tips for long-term and short-term rentals
The BEST way to source contractors for your renovation projects
Why you shouldn’t speak with your tenants over the phone
What you need to know before investing in an Alaska rental market
Why you should get your real estate license (even if you don’t plan to use it!)
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Rookie Podcast 277 - Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property
Rookie Podcast 313 - The REAL Side of Real Estate: When Rehabs and Rentals Go Wrong
The Difficult Path to Wealth: Losing Money on Your First Real Estate Deal w/ JL Collins
Connect with Jessica:
Jessica's BiggerPockets Profile
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-394
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
If you want your rental property to succeed, you’ve got to give people a reason to keep coming back. That’s exactly what today’s guest is doing—creating a one-of-one experience that people can’t get anywhere else. It’s what keeps his property booked year-round!
Welcome back to the Real Estate Rookie podcast! Just three years ago, Chase Charifa bought his first rental property—a black, mid-century cabin tucked away in Big Bear, California. By engaging each of the guest’s five senses and adding intrigue with a “secret” amenity, Chase and his wife, April, have created an unforgettable guest experience that allows them to stand out in their market. As a result, this short-term rental brings in about $120,000 per year!
But that’s not all. Since launching his Airbnb, Chase has taken on another four rentals, three new construction projects, and a parcel of land. How has Chase been able to scale his portfolio in only a few years? In this episode, he shares how he was able to fund several deals using creative financing and smart tax strategies. He also talks about the huge opportunity that exists with real estate development. You’ll learn how to find land, get approved for a construction loan, and build your own development team!
In This Episode We Cover:
How Chase brings in $120,000 per year from ONE rental property
The best way to get FREE real estate marketing for your short-term rental
How to create an unforgettable experience for your Airbnb guests
Scaling your portfolio with creative financing and tax strategies
How to incorporate a creative skill set into your real estate business
Getting started in real estate development and building your team
How to get approved for a construction loan (in three steps!)
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Protecting Your Future in Short-Term Rentals: It Starts By Providing a Powerful Guest Experience
The “Luxury” Rental Property That Brings in $150K/Year of Pure Profit
How to Start an Airbnb Business in a Brand New Market
$11,000/Month with One VERY Unique Rental Property
Connect with Chase
Chase's Instagrams:
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-393
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
Can’t afford to buy a rental property due to your area’s high cost of living? At what point should you quit your W2 job and move elsewhere to realize your real estate investing dream? There are several factors at play here, but we tackle this exact scenario and much more in today’s Rookie Reply!
We also talk about partnerships and how to determine who should be responsible for capital, holding costs, and other expenses when flipping houses. Are you inhering tenants? There’s an important agreement you must have in place when taking over the property. Could one of your residents be subleasing your unit without your permission? You’ll learn how to navigate this situation when it comes to light, as well as what to do when a tenant violates your lease agreement. Want to avoid troublesome tenants altogether? Stick around until the end to hear how Ashley finds the best tenants in town!
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:
When you should consider moving (and quitting your job!) for real estate
How to evict a subtenant who is illegally occupying your unit
The agreement you MUST have in place when inheriting tenants
How to determine who provides the capital in an investing partnership
What you should do when a tenant violates your lease agreement
How to attract the BEST tenants for your rental properties
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Enroll in the Real Estate Rookie Bootcamp Today
Become a BiggerPockets Pro Member for Lease Agreements in Your State
Rookie Reply: How to Structure a Real Estate Partnership
How to Find Your Perfect First Rental Property (Even in an Expensive Area)
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-392
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
Your feedback is valuable to us. Should you encounter any bugs, glitches, lack of functionality or other problems, please email us on [email protected] or join Moon.FM Telegram Group where you can talk directly to the dev team who are happy to answer any queries.