Your first deal might just be your most important — because it leads to all the rest. That’s why it’s so imperative to study others who have just recently purchased their first deal! So today we’re excited to bring you a mashup episode, in which we sit down with three different investors to hear how they bought their first few investment properties. You’ll hear how Bill went from ex-con to house hacker, how Jacob used some highly creative methods to find his first deals, and how David is building an empire from across the ocean. Don’t miss a moment of this powerful episode!
In This Episode We Cover:
Bill

Being imprisoned for 10 years

What changed in prison for Bill

Starting your business on the side


How he ended up investing in real estate

What went in his head with his first investment property

The beauty of keeping expenses low


Having tiny little steps


Jacob

Jake’s investing path


How he got into real estate

Buying a $25,000 house with a $140 monthly mortgage


Going for the smaller banks


Investing at a very young age


Joining local Facebook pages

His criteria for finding properties

David

David’s story and how he got to Hawaii



BRRR, OD, and HELOC


Paying close to 5 percent on a 10-unit apartment

Having a great team you can trust

How he built a meet up in Hawaii

And SO much more!

Links from the Show

BiggerPockets Forums

BiggerPockets Webinars

BiggerPockets Podcast 277: Building a Six-Figure Family Real Estate Business with Ashley Wilson

BiggerPockets Podcast 157: A Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal Elrod

BiggerPockets Events

Dad Powered

Brandon’s Instagram Profile

David’s Instagram Profile

Books Mentioned in this Show


The 21 Irrefutable Laws of Leadership by John C. Maxwell & Steven R. Covey


Awaken the Giant Within by Anthony Robbins


Rich Dad Poor Dad by Robert Kiyosaki


Long-Distance Real Estate Investing by David Greene


The Ultimate Beginner’s Guide to Real Estate Investing by BiggerPockets


The Advanced Guide to Real Estate Investing by Ken McElroy


How to Win Friends & Influence People by Dale Carnegie


The Miracle Morning by Hal Elrod


The 80/20 Principle by Richard Koch

Tweetable Topics:

“My success story didn’t started when I got out (from prison), it started right away in the very beginning.” (Tweet This!)


“Quit the things that are holding you back and have you put in the exact location you are.” (Tweet This!)


“Find a market that makes sense.” (Tweet This!)


“I want to buy something that is certainly desirable.” (Tweet This!)


“Highest risk is vacancy.” (Tweet This!)


“Become a person worth being around.” (Tweet This!)


“If they’ll like you, they’ll join.” (Tweet This!)


Connect with Bill
Bill’s Blog
Connect with Jacob

Jacob’s Podcast

Jacob’s Website

Connect with David

David’s Blog

David’s Instagram Profile

David’s Facebook Page

David’s Youtube Channel


      
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281: How to Get Your First Deal—An Episode For New Investors With Bill, Jacob, and David!

On the BiggerPockets Real Estate Podcast, co-hosts David Greene and Rob Abasolo interview real estate investors and entrepreneurs about successes, failures, and hard-earned lessons. Through in-depth conversations, 1-on-1 listener coaching calls, and news analysis, you’ll get a breakdown of real strategies that work for different niches and experience levels. Tune into the #1 real estate investing podcast every Monday, Wednesday, and Friday.

Education

Training

Language Courses

Higher Education

K-12

Educational Technology

Business

Investing

Careers

Management & Marketing

Business News

Shopping

How do you find investment properties nobody else is looking for—the ones with cash flow potential, equity upside, and wealth-building qualities all the other investors overlook? Simple: buy what nobody else wants. For Lisa Field Moore, that’s old homes. Most rookie investors walk into an old house, notice the foundation problems, warped floors, and outdated electricals, and quickly see themselves out. But Lisa sees money to be made—and you should too.
In this episode, Lisa shares how she’s built a sizable real estate portfolio by buying old, overlooked, and outdated homes, all in the past four years! But these are treacherous waters, and getting a major rehab item wrong could cost you a deal. To help, Lisa breaks down what isn’t (and definitely is) a red flag when looking at old homes, how she lost serious money making one easy mistake, and how to avoid doing a bad deal ever again. Plus, she shares her tips for rock-solid tenant retention that’ll keep your rental properties filled for years (or even decades!).
Want to know how to find these older homes with wealth-building potential? Stick around because DealMachine gives us a bonus segment on the five ways to find a motivated seller in ANY market! 
In This Episode We Cover:
Why you cannot overlook rehabbing older homes and outdated properties 
The two things that tell Lisa an older home ISN’T worth investing in 
Why termites, foundation problems, and outdated electrical systems aren’t as bad as you think
The huge mistake Lisa made that ruined a $100K+ rehab project and how to avoid the same fate
Tenant retention 101 and best ways to ensure your vacancy rate is low and your cash flow is high 
DealMachine’s five ways to find motivated sellers in any market 
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
BiggerPockets Merch
Join BiggerPockets for FREE
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Ask David Your Real Estate Investing Question
Dave’s BiggerPockets Profile
Dave’s Instagram
Henry’s BiggerPockets Profile
Henry’s Instagram
BiggerPockets' Instagram
8 Things to Look for When Rehabbing Older Homes
Pros and Cons of Old vs. New Rentals
Connect with Lisa:
Lisa's BiggerPockets Profile
Lisa's Facebook
Lisa's Instagram
Lisa's LinkedIn
Lisa's Website

(00:00) Intro
(01:31) Investing in OLD Houses
(05:22) Signs of a Solid Property
(10:18) $100K Rehab Gone WRONG
(16:06) How to Avoid Bad Deals
(19:42) When to Hold and When to Sell
(23:54) Tenant Retention 101 
(34:27) 5 Ways to Find Motivated Sellers

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-942
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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942: Building Wealth with OLD Homes and How to Keep Tenants for Longer w/Lisa Field Moore

Should you pay off debt or invest? Many online financial gurus would tell you in a heartbeat that paying off debt is the number one priority…but is that always true? What if there was a way to pay off debt WHILE investing, so you could lower your liabilities AND build wealth in the background? And what if you could do that even if you were hundreds of thousands of dollars in debt? If this sounds like your situation, this Seeing Greene is for you!
David and Rob are back, answering your real estate questions so YOU can build wealth faster, reach financial freedom, and live the life you love. Our first question comes from a concerned rental property owner wondering why his property management company can’t do something seemingly simple. Then, a nationwide investor asks, “Are home warranties ever worth it?” A medical student with massive student loans asks how to start investing while in debt, and an aspiring investor asks how to turn his inherited rental property into a big portfolio. Will robots cause the downfall of real estate, and when is it the right time to add a bedroom to your rental? All that and more are coming up in this episode!
Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can jump on a live Q&A and get your question answered on the spot!

In This Episode We Cover:
Should you invest or pay down debt? We have a strategy for doing BOTH!
What to do when your property management company ISN’T doing what you want
Home warranties 101: an appliance saver or a complete waste of money?
How to turn one rental property into an entire portfolio using HELOCs and cash-out refinances
Whether or not construction “robots” will cause home prices to plunge 
When (and when NOT) to add bedrooms or extra space to your rental property
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
BiggerPockets Merch
Join BiggerPockets for FREE
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Ask David Your Real Estate Investing Question
David's BiggerPockets Profile
Rob's BiggerPockets Profile
Rob's Instagram
Rob's TikTok
Rob's X/Twitter
Rob's YouTube
BiggerPockets' Instagram
Seeing Greene: Rehab Costs, Renting vs. Owning, and The END of Real Estate?
Should I Pay Off My Student Loan or Invest in Real Estate?
Complete Guide to Home Warranties


Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-941
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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941: Seeing Greene: Are Home Warranties Worth It & When to Pay Off Debt vs. Invest?

Everyone knows how to find a real estate agent. But an investor-friendly agent—one who will find deals for you, run the numbers, hook you up with contractors, and help you get funding—isn’t the same as your neighborhood agent down the street. These agents have connections that can help skyrocket a new real estate investor’s portfolio and bring them deals that no one else knows about. So, how do you find these diamond-in-the-rough real estate agents? You need to ask THESE questions.
To help you vet your future investor-friendly real estate agent is James Dainard. James is a flipper, wholesaler, broker, investor, and lender in the Seattle, Washington, area. He’s been buying and selling houses for two decades and does more deals in one month than most investors do in years! He’s here to guide any investor through finding an investor-friendly agent, the crucial questions you MUST ask at the start, his number one tip for finding the best agents in an area, and how agents can set themselves apart from the competition.
But that’s not all. With the latest agent commission lawsuits, more buyers are aware that commissions are negotiable. So, whether you’re looking to get a steal on your next deal or want a first-class buying and selling experience, James walks through how you may now be able to negotiate what commission you want to give an agent, depending on what matters most to you.
In This Episode We Cover:
The best place to find a real estate agent (for investors!)
Questions you MUST ask any “investor-friendly” agent BEFORE you use them 
The services that expert-level agents provide that’ll help you build wealth faster
Negotiating agent commissions and how the recent NAR lawsuit could change the agent landscape
How to make sure that your agent knows what they’re talking about when they bring you deals
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
BiggerPockets Merch
Join BiggerPockets for FREE
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Ask David Your Real Estate Investing Question
Rob's BiggerPockets Profile
Rob's Instagram
Rob's TikTok
Rob's X/Twitter
Rob's YouTube
Henry's BiggerPockets Profile
Henry's Instagram
BiggerPockets' Instagram
5 Ways to Find an Investor-Friendly Real Estate Agent
Connect with James:
James' BiggerPockets Profile
James' Instagram
Broker Website
James' YouTube

(00:00) Intro
(00:52) Regular vs. Investor-Friendly Agents
(04:21) Services to Look For
(08:47) How to Find the Right Agent 
(13:50) #1 Tip to Try 
(17:04) Questions to Ask Your Agent
(19:36) Elite Agents Have This
(25:22) Negotiating Commissions 

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-940
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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940: Crucial Questions to Ask an Agent and How to Negotiate Commissions w/James Dainard

If you’re a first-time home buyer, now may be one of the best times to get a loan in recent history, according to mortgage advisor Jeff Welgan. With new no-money-down mortgages coming out specifically to help first-time home buyers finally get into a property, you can now buy a house for no money out of pocket, with your entire purchase price and closing costs covered. These 100% financeable loans aren’t a secret, so why don’t most first-time home buyers know about them?
In this BiggerNews, we’re diving deep into the best first-time home buyer loans available in 2024, how to pick up your first property for NO MONEY out of pocket, and low-money-down multifamily deals any brand new investor can start buying today. With affordability at nearly forty-year lows, most Americans struggle to save up a down payment, even if they have enough income to qualify for a home loan. This is where 100% financeable loans come in, making it easier than ever to buy your first home.
So, who can get approved for these first-time home buyer mortgages, where do you find them, and how do they work? Jeff goes through these programs on the federal and state levels, showing first-time home buyers where to find them, which loans to avoid, and whether or not they can use these loans to buy their next property.
Thank you to our sponsor, Rent App: the free and easy way to collect rent. 

In This Episode We Cover:
How to get 100% financing on your first property (no money down!)
Who qualifies for these first-time home buyer loans, and which properties require a down payment
The problem with FHA loans and where you should/shouldn’t use them
Rate buydowns and why this once valuable tool is no longer being used
How to invest in small multifamily with VERY little money down
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
BiggerPockets Merch
Join BiggerPockets for FREE
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Ask David Your Real Estate Investing Question
Dave's BiggerPockets Profile
Dave's Instagram
BiggerPockets' Instagram
Hear Dave on The “On the Market” Podcast
Watch Dave on the “On The Market” YouTube Channel
Grab the “First-Time Home Buyer” Book from BiggerPockets
4 Popular Mortgage Programs for First-Time Home Buyers
Connect with Jeff:
Jeff's Instagram
Jeff's LinkedIn
Jeff's Website

(00:00) Intro
(01:12) 100% Financing For Your FIRST Home? 
(06:28) How These Loans Work 
(11:40) The Problem with FHA Loans?
(14:35) Getting a Lower Mortgage Rate
(25:30) Low Money Down Multifamily Investing 

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-939
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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939: BiggerNews: 100% Financing for First-Time Home Buyers is HERE w/Jeff Welgan

If there’s one thing that’ll make or break your real estate portfolio, it’s property management. When done correctly, property management can feed you consistent, passive income without the everyday stressors of being a landlord. Whenever you hear people talking about bad tenants, midnight phone calls, or surprise maintenance problems, they’re really talking about property management gone wrong. So, how does a rookie real estate investor, with even just one rental property, start managing the right way so they can scale their portfolio faster? 
Amelia McGee and Grace Gudenkauf, authors of The Self-Managing Landlord, did it all wrong initially. They were picking up every tenant phone call, placing every service request, taking rent payments every which way, and here’s the thing—none of it was working. As they scaled their portfolios, things only got more difficult until finally, one day, they stopped and developed a system, and like that, their businesses took off.
Now, only a few years into real estate investing, both Amelia and Grace have dozens of rental units to their names and less stress than ever before. How did they do it all WITHOUT hiring everything out to a property manager? In today’s show, they’ll share the self-managing principles they used to explode their rental portfolios while staying sane! And if you’re a new investor or are about to be one, these tips could save you YEARS of headaches!
In This Episode We Cover:
Why EVERY real estate investor should be self-managing when building their portfolio
How to start building your property management “system” that’ll save you HOURS a week
What brand new investors NEED to start doing once they have their first property
Three apps/software that every real estate investor should have
Tenant selection 101 and simple mistakes that could cost you months of rent 
How to know it's time to start outsourcing and signs you need some help
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Youtube Channel
BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
BiggerPockets Merch
Join BiggerPockets for FREE
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Ask David Your Real Estate Investing Question
Dave's BiggerPockets Profile
Dave's Instagram
Henry's BiggerPockets Profile
Henry's Instagram
BiggerPockets' Instagram
Rookie Podcast 111 - 26 Doors in 1 Year? Here’s How You Can Do It Too! w/Amelia McGee
Rookie Podcast 161 - Using Calculated Risk to Acquire 17 Doors In Under a Year (at Age 24!) w/ Grace Gudenkauf
Self-Management vs. Property Management Company: What’s Right for You?
Book Mentioned in the Show
The Self-Managing Landord by Amelia McGee & Grace Gudenkauf
Connect with Grace & Amelia:
Amelia's Instagram
Grace's Instagram
Amelia and Grace's Website


(00:00) Intro
(01:48) EVERYONE Should Self-Manage
(04:06) How Bad Management Burns YOU
(09:31) Start Doing This NOW
(14:08) Tips for Your First Rental Property
(19:26) 3 Apps/Software You Need
(22:44) Tenant Selection and Screening
(26:56) Outsourcing vs. DIY
(32:21) When to Hire it Out
(36:11) Grab the Book!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-938
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
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281: How to Get Your First Deal—An Episode For New Investors With Bill, Jacob, and David!

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