Episodes

  • 401: Boost Your Cash Flow in 2024 with These “Self-Management” Tips w/Amelia McGee and Grace Gudenkauf

    401: Boost Your Cash Flow in 2024 with These “Self-Management” Tips w/Amelia McGee and Grace Gudenkauf
    May 3 2024
    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 Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE 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: BiggerPockets Pro RentRedi Real Estate Rookie 111 - 26 Doors in 1 Year? Here’s How You Can Do It Too! w/Amelia McGee Real Estate Rookie 161 - Using Calculated Risk to Acquire 17 Doors In Under a Year (at Age 24!) w/ Grace Gudenkauf BiggerPockets Real Estate 938 - Scaling from 0 to 20+ Doors Using These “Self-Management” Tools & Tips w/Amelia McGee and Grace Gudenkauf Tools Mentioned in Today’s Show: Loom Monday.com Connect with Amelia: Amelia's BiggerPockets Profile Amelia's Instagram WIRE (Women Invest In Real Estate) Connect with Grace: Grace's BiggerPockets Profile Grace's Instagram (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: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    50 mins
  • 400: Rookie Investor? Never Make This $40,000 Mistake w/Dave Meyer

    400: Rookie Investor? Never Make This $40,000 Mistake w/Dave Meyer
    May 1 2024
    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: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    39 mins
  • 399: $80,000/Year Cash Flow & Financial Freedom with 7 Properties (in 3 Years!) w/Sarah Msuya

    399: $80,000/Year Cash Flow & Financial Freedom with 7 Properties (in 3 Years!) w/Sarah Msuya
    Apr 29 2024
    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 Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE 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 Sarah's Facebook Sarah's Instagram Sarah's LinkedIn 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: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    40 mins
  • 398: 3 Steps to Buying Your First (or Next) Small Multifamily Property

    398: 3 Steps to Buying Your First (or Next) Small Multifamily Property
    Apr 26 2024
    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 Find an Agent Find a Lender Dave's BiggerPockets Profile Dave's Instagram 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 Join a BiggerPockets Bootcamp “On the Market” Podcast 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: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    53 mins
  • 397: The BEST Ways to Protect Your Rental Property and Keep Your Tenants Safe w/Eileen Daugherty

    397: The BEST Ways to Protect Your Rental Property and Keep Your Tenants Safe w/Eileen Daugherty
    Apr 24 2024
    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 Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE 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: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    46 mins
  • 396: 5 Real Estate Deals Using Other People’s Money w/Darnell Leslie

    396: 5 Real Estate Deals Using Other People’s Money w/Darnell Leslie
    Apr 22 2024
    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 Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE 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!) BiggerPockets Podcast 334 - Using Other People’s Money to Fund Flips, Multifamily, & Self-Storage Deals With Ben Lapidus 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 Darnell's Facebook Darnell's Instagram Darnell's LinkedIn (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: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    58 mins
  • 395: Rookie Reply: Using a Car as a Down Payment (!?), ADUs, & House Hacking 101

    395: Rookie Reply: Using a Car as a Down Payment (!?), ADUs, & House Hacking 101
    Apr 19 2024
    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: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    40 mins
  • 394: The Hidden Property Damage That Could Ruin Your Home Renovation…w/Jessica Bryant Walton

    394: The Hidden Property Damage That Could Ruin Your Home Renovation…w/Jessica Bryant Walton
    Apr 17 2024
    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 Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE 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 Jessica's Instagram 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: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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    43 mins