Banks tend to love a certain type of borrower... and Mallori and Lucas don't quite fit the mold.
They're not 9-to-5ers. They rely on tips and seasonal work. And they live modestly but aren't swimming in cash. So, when they took the plunge into real estate investing—in pricey Tacoma, Washington—they had some work to do to become "bankable."
Today you'll learn how despite a few roadblocks, they dumped their rent payment and pulled off their first-ever home purchase: a house hack in an up-and-coming area. From shopping around between banks, to securing a "rehire" letter to verify employment, to negotiating "early access" to the property and doing some repairs before closing, this episode is full of great tips for those just starting out.
Also—it's a reminder that "sweat equity" doesn't always mean physical labor. Sometimes it's just as important to stay focused and organized when it comes to the huge amounts of paperwork involved in a real estate transaction!
Let us know what you think of the show in our Facebook group (just search "Real Estate Rookie"), and subscribe so you won't miss out next week. See you Wednesday!
In This Episode We Cover:

What Mallori and Lucas learned from a first-time homebuyer class


The mindset shift that helped them overcome their fears

How they avoided analysis paralysis


Getting access to a property to do repairs before closing


How they ensured their property passed the appraisal


How they got free carpet for their rehab

How blue-collar workers can be real estate investors, too

How seasonal workers can make themselves more bankable


What a "rehire letter" is

How they analyzed several house hack deals

Why listings with one Google Street View photo can be hidden gems

Websites where they check rent comps


Why their real estate agent turned out to be their "MVP"

And SO much more!

Links from the Show

Real Estate Rookie Facebook Group

BiggerPockets Podcast

BiggerPockets Youtube Channel

Redfin

Biggerpockets Calculators

BiggerPockets Pro

Washington State Housing Finance Commission

BiggerPockets Hard Money Lenders

Zillow

Hotpads

Padmapper

Check the full show notes here: http://biggerpockets.com/rookie8
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8: Why Pay Someone Else's Mortgage? Ditching $20k/Year Rent with Mallori and Lucas

Ready to build your real estate empire… but not sure where to begin?
Think of us as your personal trainer.
From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.
Looking to 10X your real estate investing business this year? This show isn’t for you.
Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. 
Every Monday, Wednesday and Friday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.

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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
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397: The BEST Ways to Protect Your Rental Property and Keep Your Tenants Safe w/Eileen Daugherty

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

396: 5 Real Estate Deals Using Other People’s Money w/Darnell Leslie

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

395: Rookie Reply: Using a Car as a Down Payment (!?), ADUs, & House Hacking 101

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

394: The Hidden Property Damage That Could Ruin Your Home Renovation…w/Jessica Bryant Walton

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
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!
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 BiggerPockets Profile
Chase's Facebook
Chase's Instagrams:
@lightfootcabin
@janchasecharifa
Chase's LinkedIn


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: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices

8: Why Pay Someone Else's Mortgage? Ditching $20k/Year Rent with Mallori and Lucas

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