269: Rookie to Real Estate Investor: College Rentals, Airbnbs, & Plumbing Problems

Don’t know what to do AFTER closing on a house? You’ve found your market, done your due diligence, passed your inspections, and now you’re asking, “what’s next?” Two of our three mentees are about to close on their first (and next) rental properties, but they don’t have to go in blind, thanks to the expert guidance of experienced investors Ashley and Tony. But we’re not just talking about a post-closing checklist. Instead, we’ll get into the nitty-gritty of getting a new short-term rental, how to handle inherited tenants, when to switch your investing strategy, and what happens when you discover a BIG plumbing problem in a property.

We’re back to conclude our final meeting with our ninety-day mentees. Brandon, Lawrence, and Melanie have made MASSIVE strides to become real estate investors. Brandon and Melanie come back with deals under contract and close to closing, while Lawrence is looking to switch up strategies and potentially re-enter the cash-flowing world of college rentals. All the mentees have taken significant steps to success in just three months, and you can do it too!

Stick around if you’re trying to get your next rental property under contract, as Brandon, Lawrence, and Melanie discuss why having community, accountability, and pressure for success took their investing to the NEXT LEVEL. If you want to break through your biggest goals, sign up for BiggerPockets Pro today and join our next Real Estate Rookie Bootcamp!

In This Episode We Cover

Investing in short-term rentals and how to set your house rules for new guests 

Out-of-state investing and closing on a rental property remotely

Home inspections and why they’re almost ALWAYS worth the cost

Inherited tenants, estoppel agreements, and what to do as soon as you buy a rental with tenants

Delayed maintenance and what happens when you uncover pricey plumbing problems in a property

Student rentals and using them to make more cash flow than a regular rental property

Accountability, community, and why investing together can help you build wealth faster

And So Much More!

Links from the Show

Find an Investor-Friendly Real Estate Agent

Ashley's Instagram

Tony's Instagram

Airbnb

Apartments.com

Avail

BiggerPockets

BiggerPockets Bootcam

The BiggerPockets Money Podcast

BiggerPockets Pro

Hostfully

MLS

On the Market Podcast

Real Estate Rookie Facebook Group

Real Estate Rookie Podcast

PriceLabs

RentRedi

Tony’s Short-Term Rental Shopping List

Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls

Rookie to Real Estate Investor: Seller Financing, STR Markets, & Lowball Offers

Rookie to Real Estate Investor: House Offer Accepted! Now What?

Connect with Brandon, Lawrence and Melanie:

Brandon's BiggerPockets Profile

Brandon's Instagram

Lawrence's BiggerPockets Profile

Lawrence's Instagram

Melanie's BiggerPockets Profile

Melanie's LinkedIn

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-269

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected]

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