Shows
Real Estate 101 - The Investor's Podcast NetworkREI027: From Real Estate Rookies to Real Estate Pros with Kirk and Emily Du Plessis (Part 2)
IN THIS EPISODE, YOU’LL LEARN:
How to gain knowledge and confidence to buy your first deal.
What types of rental properties you can invest in.
What are the mistakes you can avoid through your real estate journey?
The very important first action step you need to take to begin investing in real estate.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES
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...2020-07-2143 min
The RentalRookie PodcastShow164: How we Doubled our Unsecured Line of Credit Lines of credit can be a great financial strategy when it comes to financing rental property. Whether it be a HELOC, secured line of credit or unsecured line of credit it allow you some flexibility to acquire property. What is an unsecured line of credit? An unsecured line of credit is a revolving account that allows you to draw and repay based on your need for the money. What's great about an unsecured LOC is that you don't have to put any personal funds or properties up as collateral for the access t...2020-03-1218 minThe RentalRookie PodcastShow163: This is Your Year...Chase Your DreamsYep....not just a new year...it's a new decade. And with that comes excitement and inspiration and motivation. It's like you wake up one morning a totally changed and motivated individual.... because that's what happens. We go to bed on December 31st every year and wake up a new person the next morning. Right? I'm here to tell you that this year.....is your year. Stop letting your fears get in the way.... Stop letting what other people think about you get...2020-01-0925 minThe RentalRookie PodcastShow162: 4 Things to Kick off Your Investing JourneyWe've made it to the end of our 12 days of Christmas and I hope I've inspired and motivated you to kick some butt in 2020. So to end our 12 day long focus of learning about investing in real estate I'm giving you 4 things to do right now to jumpstart your journey toward buying that first property. !. Do a financial audit of your finances Take a look at everything. Calculate you total monthly income (include work income, side job incomes, child support, etc. Add up your fixed expenses (the expenses that you HAVE to pay each month) What ...2019-12-2708 minThe RentalRookie PodcastShow161: Overcoming stage fright with investingIt's the 11th Day of Christmas Stage fright. Have you ever felt this? When you've worked so hard at something (dance, piano, athletic event, choir concert) you've put your blood, sweat and tears into really mastering the skill so you can perform well. And you get to the event…..and your slammed with stage fright. It can totally inhibit your performance. Fill you with anxiety and fear, Even when you know you've done the work to get out and do your best. ...2019-12-2705 minThe RentalRookie PodcastShow160: Tax benefits of buying rental propertyWe are about to kick off a brand spanking new year. And if you already own a rental property but have not kept track of your tax deductible items for investing in rentals now's the time to clean that side of the business up. If you're coming in hot to 2020 ready to buy your first property…then knowing the things you should be keeping track of from the start will make your life 100x more easier when it comes time to do your taxes. ----Tax time of the year can be such a dr...2019-12-2309 minThe RentalRookie PodcastShow159: The importance of tenant experienceIt's the 9th day of Christmas and it's my birthday!! And in the spite of gift giving in receiving I want to talk about tenant experience and how providing tenants with unexpected gifts can be huge in having proud, loyal tenants. Think about it. We put a lot of effort, time and money into buying these investments and we want to have a great experience ourselves so we need to have our tenants have a great experience. How do we do this? We have welcome packages for our new tenants. 2019-12-2206 minThe RentalRookie PodcastShow158: Running numbers on properties to ensure it's a good dealWhat is awesome about investing in real estate is that we know before we ever close on a deal and sign the dotted line whether a property is a good deal. The process of buying rental property is in a lot of your control. Which either… A. people love because they like control or B. scares the daylights because they don't want to be responsible for the make or break of their financial investment. And a big part of this comes down to knowing how to run nu...2019-12-2108 minThe RentalRookie PodcastShow157: How do I find good deals on rental property?Guess what….I love to travel. IT's my passion…it's my jam. So I subscribe to many different email newsletters dedicated to travel. Travelzoo, Sherman's Travel, Hotel Tonight, you name it I'm on it. And I don't just let those email go to my junk email address and not read them I know what days those emails come out every week and I look for them in my email inbox week in and week out. WHY? Because I want to see what the deals are this...2019-12-2006 minThe RentalRookie PodcastShow156: Running a Rental Market AuditRunning a rental market audit is critical to your success as an investor. 2019-12-1907 minThe RentalRookie PodcastShow 155: Should I self-manage my rental properties?Should I self-manage my property? This is one of those questions you will have to ask yourself when you decide to buy that first rental property. But I will say that it is a loaded question. It goes a lot deeper than just a yes or no question. There are a number of things that you need to think about when it comes self-managing and a number of questions you can ask yourself to help you determine what might be best for you and your current life situation. Just like any other decisions...2019-12-1810 minThe RentalRookie PodcastShow154: Where do I find rental properties?If it's your first property finding it doesn't have to be fancy or expensive There are tons of resources available to help you find potential rentals. The key is knowing and using the variety of resources available for you because not all properties are listed on every platform. And sometimes properties aren't listed anywhere at all. Yes, you actually have to get out and talk to people and get deals through word of mouth. But sometimes these can be the best deals. So let's go over some...2019-12-1709 minThe RentalRookie PodcastShow153: Financing My First PropertyThis is always one of the top issues. I hear it time and time again from my community of rookies.. "How do I finance my 1st property" What sucks about investing in rental property is that there is most definitely a high barrier to entry… 20% is a lot of money. IF you plan to buy a rental property using a conventional loan and not living in the property you can expect to have to put down 20% So in real numbers… …we're looking at $20,000 on the...2019-12-1606 minThe RentalRookie PodcastShow152: Goal Setting for 2020With every new year comes the excitement of a fresh beginning… …a new start… …a new you. Right….many of us sit down and make audacious goals about what we want to accomplish in the new year. And trust me…Kirk and I are here for it! We LOVE sitting down and talking about what we want to accomplish in the new year and looking back on what we accomplished the previous year. We actually used to get made fun of by much of our family for n...2019-12-1505 minThe RentalRookie PodcastShow 148: Stop Worrying about FailingIf you're anything like Kenny who recently said his obstacle is "worrying about the fear of failing" or like me who was scared to start because I lacked confidence and knowledge. Then you're not alone. And sometimes it can be reassuring to know that others are feeling the exact same way you are in your journey right now. Getting started with rental property is not easy and is very intimidating as a rookie investor. You've probably thought to yourself… "I'm not smart enough to do th...2019-12-1406 minThe RentalRookie PodcastShow150: The 12 Days of Christmas- RentalRookie EditionYes, it's true. I love this time of year. The holiday songs, decorations, lights, trees. I love the way our house feel all decorated and at night when only the lights of the tree and our decorations are lit. It's cozy. So I thought it would be fun to end the year and prepare for the new year by starting the 12 days of Christmas- our edition. Meaning that we've taken some of the most asked questions from the year, topics we've covered and put them into short...2019-12-1303 minThe RentalRookie Podcast[LIVE Training] Understanding the Foundational Pieces of the Buying JourneyThe journey to buying that first rental property is no doubt a bit scary. When you actually commit to stepping out of your comfort zone and seriously tackle the endeavor you can find yourself a bit lost and confused and overwhelmed. While there are a number of things that you need to be aware of and learn about the journey to that first rental property (which we cover in our Rental Property Roadmap) there are foundational pieces of the process that are a bit more critical than others. I'm not discounting any part...2019-10-251h 18The RentalRookie PodcastShow148: The Roadmap to Buying Your First Investment PropertyWhen you're just getting started with investing in real estate everyone goes through a period in their journey where they don't know where or how to start. And let's be honest...in today's society many of us want to know the answer now. We hate having to go down the road of figuring it out and mostly because time is the thing that we all seem to never have enough of. So for years of working with brand new investors we've answered the most frequently asked question when it comes to starting the...2019-10-2127 minThe RentalRookie Podcast147: Avoid these 7 common real estate investing mistakesWhen you're just getting started with investing in real estate it's easy to get caught up in the overwhelm of everything there is to know. You are learning everything on the fly and trying to put it into practice and it's easy to let things slip through the cracks. We see it happen with new investors all of the time and admittedly we have fallen victim to some of these too. So we’ve put together 7 mistakes that are often made by newbie (and even seasoned investors) to help save you from yourself!...2019-10-0430 minThe RentalRookie PodcastShow146: Factor Based Investing for Real EstateWhen you are just getting started when it come to real estate investing there's no doubt that it is overwhelming. You're probably asking yourself questions like: where do I start?? how do I start?? What investment strategy should I use? Are the market conditions right for me to buy a property right now? And while we have an entire roadmap that we've put together to help you figure out where to begin and what things you need to know along your way. You have to...2019-09-1925 minThe RentalRookie PodcastShow145: Should I worry about a real estate market crash and other investing questions.Well....if there's an elephant in the room when it comes to talking about the market I think it's this question that Tatiana (from our community) asked. Kirk and I jumped right in to talk about it. There's no secret that right now all over the news there's some talk about the market and what may happen in the somewhat near future. It's been over 10 years since the big recession hit in 2008 and the housing market has been on an upward swing since. The reality is that the market is cyclical...2019-09-1019 minThe RentalRookie PodcastShow144: How capital expenditure can ruin potential dealsWhen it comes to buying rental property as long term assets one of the most important things you need to pay attention to is the capital expenditures of a property. You’ll often hear people refer to things like Cap Ex. And really, what those are, are the big ticket items that you may eventually have to replace on a property that are going to cost a lot. These capital expenditures are including things like the roof, electrical, plumbing or having to repave a parking lot. Depending on how big the physical asset of...2019-09-0321 minThe RentalRookie PodcastShow143: Buy Rental Property with PartnershipsBuying rental property as a new real estate investor can be overwhelming, scary and flat out hard. There are a number of obstacles that come into play when beginning to invest in real estate and one of the major ones is with how to find the money to buy properties. A great investment strategy for both newbie investors and seasoned investors is using partnerships to acquire investment properties. It can be a huge struggle when you are just starting out to save up thousands of dollars for a down payment. That's...2019-08-2225 minThe RentalRookie PodcastShow142: Stop wondering what's on the other side of your 1st propertyYou guys....this week I'm here to inspire. Kirk and I often jump on the podcast to share practical tips and strategies that we've learned in the 7 years we've been investing. However, this week I want to inspire you. I want to share with you a dream I've had since I was a kid. One that, for a period of my life, thought it wouldn't be something I could achieve until I was in retirement. But believe it when I said that we've achieved this dream of mine when...2019-07-2520 minThe RentalRookie PodcastShow141: How Bad Investments in Real Estate Can Ruin Your MarriageEven if you're not married this podcast is for you. Because think about it.... Anybody that you become a partner with when it comes to buying property is like a marriage. You're committed to each other and your joint venture. So it's important whether you are investing with your spouse or with another individual to really know the foundational pieces of real estate investing. That way your relationship, whether a true marriage or an "investing marriage" doesn't come crashing down. This week on the podcast we share...2019-07-1920 minThe RentalRookie PodcastShow140: How to Find Great Deals when buying an Investment PropertyI get this question numerous times a week from members of our community. It's definitely one of the things that many newbies want to know. You're nervous and scared and want to know exactly how to find those great deals. The reality is finding a great deal is a process. It's not something that you're going to learn overnight. It takes time, once you determine the market you want to invest in, you've got to put in the work to learning everything you can about what properties are selling for, listing...2019-07-1026 minThe RentalRookie PodcastShow139: HELOC vs. Refinance , Common Mistakes for Newbies and Other Real Estate Investing TipsWe've had a ton of really great questions asked about the investing process recently. The reality is when there are great questions there are often others who have the same one. In this podcast episode, we break down some of our most recently asked questions from our RentalRookie Community Members. Real Estate Investing Tips Some of the questions we answer in the show are: What are some of common mistakes for newbies? It's easy to make a lot of mistakes when you're just getting started b...2019-06-0627 minThe RentalRookie PodcastShow138: Finding the Right First Deal with Newbie Investors Grant & SheilaThis is a can't miss episode if you've been wanting to invest in rentals but are a newbie and are nervous about taking the plunge. Grant and Sheila were right there with you in wanting to make this a reality but facing many of the fears that we all face when we are getting started. Not to mention they have 3 daughters, run a business and Sheila homeschools the children. So they are busy! But they didn't let that stop them in their goal of pursuing and buying rental property. ...2019-05-2455 minThe RentalRookie PodcastShow137: How We Used Seller Financing to Secure a Great BuyerOften it can be thought that buyers are typically the ones who ask if seller financing can be an option. The reality is that there are a variety of factors that have to be in place, in truth, for seller financing to work. Things like the property being owned free and clear or with a very small mortgage are favorable things for seller financing to work. Because the seller ultimately becomes the bank in a seller financing deal. What is seller financing? It's ultimately when traditional banks are eliminated...2019-05-1322 minThe RentalRookie PodcastShow136: Stop Using Your Kids as an Excuse for Not Taking Action...Take Them With YouLet's be real... There are plenty of obstacles and fears that hold us back from getting started with investing in rentals. The fear of losing money The fear of what people will think of you... The fear of getting a bad tenant... The list can go on and on. So when it comes to trying to find the time to schedule showings and meet agents and lenders etc, it's easy to say I can't because I don't have anyone to watch my kids. This episode...2019-04-2911 minThe RentalRookie PodcastShow135: A behind the scenes look at our student rental numbersInvesting in Student Rentals Within the rental property investing niche there are many different paths that you can take. The different types of property you can invest in, albeit single family, duplexes, mobile homes, vacation rentals, etc, all offer their own variances in the investing journey. While they are all classified as rental property each one offers a unique twist that allows investors to find the one that resonates with their goals for investing. In this mini-series on the podcast we are going to break down student rentals and really dive into what t...2019-04-0125 minThe RentalRookie PodcastShow134: What is a student rental and how is it different from regular rentals?Investing in Student Rentals Within the rental property investing niche there are many different paths that you can take. The different types of property you can invest in, albeit single family, duplexes, mobile homes, vacation rentals, etc, all offer their own variances in the investing journey. While they are all classified as rental property each one offers a unique twist that allows investors to find the one that resonates with their goals for investing. In this mini-series on the podcast we are going to break down student rentals and really dive into what t...2019-03-2219 minThe RentalRookie PodcastShow133: REIT Investing: How You Can Invest in Real Estate through Real Estate Investing TrustsREIT Investing When it comes to investing in real estate there are so many different avenues that you can take. Many times we have broken down the various avenues that one may pursue: flipping, rental properties, wholesales, tax liens, syndications to name a few. One of the things that most of these investing ventures have in common is that the process of investing in and owning the real estate is very tangible. You buy the property and you can walk up and touch the property that you own. In most cases, it may...2019-02-0822 minThe RentalRookie PodcastShow132: Real Estate Syndication: Understanding How to Invest in Large DealsI get it...real estate syndications are intimidating. For pretty much the entirety of our real estate investing career I have stayed clear of this path of investing because the term itself just scared me. It sounded so serious and seemed like it would require a ton of money and so I basically ruled them out as an option for us. As always, Kirk approached me about actually getting involved in one and so the real homework began to learning what they were all about and to see if they were as intimidating...2019-01-3130 minThe RentalRookie PodcastShow131: How Our Rental Income Replaced my Salary as a Teacher As we move forward and look ahead in setting our goals for 2019, we can't help but take some to reflect on the year prior. If you've been in our community long enough you know Kirk and I love the beginning of a new year and goal setting for what big things we want to accomplish in the new year. In the past on the show we've always had a show at the beginning of the year that broke down our goals for the new year. However, this year we decided to share with...2019-01-2522 minThe RentalRookie PodcastShow130: Getting Pre-Approval Letters, Growing Without Depleting Your Savings and Other Questions Believe it or not, we are into another new year. As quickly as 2018 came and went we are starting into a new year of new goals and huge plans of what we want the year to look like, what goals we want to crush along the way. Instead of kicking off the year talking about our goals we wanted to kick off the year answering your questions >>>Click here to learn more about how to get started with Rental Property>>>>>> We get tons of questions inside our Private Facebook Group and...2019-01-1021 minThe RentalRookie PodcastShow129: It's Not All About the Money (from the vault) Believe it or not it sometimes is not always about the money. While that seems hard to understand because as investors we plunge into real estate investing in an effort to make more money and build wealth. But what we've learned in our time as investors is that while money plays a huge part in the acquisition of property (both in paying for the deals and the money they generate) there are some things that just aren't worth any type of return. >>>Click here to learn more about how to get started with...2018-12-1125 minThe RentalRookie PodcastShow128: How Opportunity Zones Can Save Taxes for Real Estate Investors It's no secret that real estate investors love to find ways to save when it comes to taxes. Heck, I'd say any investor who makes a profitable investment would love it if they could somehow cut down on some of the taxes that they have to pay in order to keep more money in their pocket. And if you've been around the block in the real estate investing niche for some time then you've probably heard of things like a 1031 exchange. Which in essence allows investors to defer their need to pay tax...2018-11-1325 minThe RentalRookie PodcastShow127: The 1% rule, creating an LLC and other tips for investing in rental properties Investing in rental property definitely has its advantages. But the problem is that there is a lot to learn. Not only do you have to figure out where you want to invest and what types of returns your looking to make on property, you also have to pay attention to things like financing options, taxes, condition of properties, and more. So I would recommend to anyone looking to get started with investing in real estate... ...don't jump in blind. In fact, take time to really get to know the...2018-11-0821 minThe RentalRookie PodcastShow126: 5 Ways to Get Your Tenants to Resign Your Residential LeaseWhen it comes to being a property owner there are a variety of hats that you must wear. Especially when you plan to be an investor landlord, meaning that you are the one finding the properties, analyzing the deals, buying them and then managing the property. And you specifically chose not to hire a management company so that you can keep more money in your pocket. There's no doubt it can get overwhelming and sometimes even small things can fall through the cracks. But what we have found in our own...2018-10-2512 minThe RentalRookie PodcastShow125: What We've Learned With Flipping Houses If you've followed our story for the last year or so you know that we started dabbling into doing complete renovations on properties with the intention to sell them. As primarily long term rental investors, this was a new avenue that we were pursuing and wanted to do it in a effort to diversify our investing and be able to report to you what we learned in the process. While we started down the renovation road with the purpose of selling the properties to make a small profit, we ultimately decided to keep the properties...2018-10-1822 minThe RentalRookie PodcastShow124: How to Get an Unsecured Line of Credit Have you wondered how to acquire properties using other people's money? Hands down this is on e of the most asked questions I get inside our community especially for those buying that first or second property. Fining the money to be able to enter into the real estate investing game is no question one of the harder aspects of investing. There's no question that buying rental property has a high barrier of entry because in the most basic form, getting a conventional loan to buy a rental property results in having 20% of the purchase price t...2018-10-0922 minThe RentalRookie PodcastShow123: Doubling Your Profit with Short Term Rentals with Pedro Obregon It's hard to imagine what life was like before you could easily hop on the internet and book a condo or house rather than a hotel room while going on vacation. While in the last few years, the rise of popularity for AirBnB and the like has become a way of life for travelers, for those who are on the investing side of the spectrum...this really can be a new strategy for building your rental portfolio and maximizing the profits that one property can actually earn. This week's show welcomes Pedro Obregon, a real...2018-08-2345 minThe RentalRookie PodcastShow122: 5 Quick Tips For the Real Estate Investor Learning from others who have gone before you is huge when it comes to reducing your learning curve. And the same theory is true when it comes to investing in rental property. There are many investors who are out there sharing their knowledge and expertise so that others can be successful with less mistakes and failures. This podcast episode is all about sharing tips for real estate investors. In the show, I share 5 quick tips that can help investors, whether new or seasoned, become more strategic and confident investors. When it comes t...2018-08-0216 minThe RentalRookie PodcastShow121: What's your seed? "Someone’s sitting in the shade today because someone planted a treea long time ago." As I read this I felt like it was something that related to many of us who invest in rentals. I know for Kirk and me, we began this investing journey 6 years ago and had big dreams of how it could impact our lifestyle goals. At the time we had been married for just about 2 years, I was in grad school and we were both working full time. We knew wanted kids, but that was still a little ways off. While we had...2018-07-1913 minThe RentalRookie PodcastShow120: The Ugly Truth About ScalingIt's true....when it comes to scaling your business as an investor landlord, while financially it can be a profitable and strategic business decision, there are some uglies that can come along with it. Anytime you are growing whether it be personal, financial, academic, etc. there are changes that have to be made and tweaks to current systems. In this episode, Kirk and I talk about those 'ugly truths' from our own experience of scaling from those first initial properties to 15 units. While we know that this is a hot topic within our community and many newbie in...2018-07-1119 minThe RentalRookie PodcastShow119: Don't Get Emotional & Other Tips for Rental Property InvestorsWhen it comes to investing in rental property there are a number of things out there for you to learn and the truth is you can be inundated with reading books, listening to podcasts and reading forums. Yes, I'm a big advocate for educating yourself and making sure that you know what you are doing before you throw your hard earned money into an investment... ...but at the same time there comes a point where you just have to take action. In this week's episode we talk about three big tips t...2018-07-0516 minThe RentalRookie PodcastShow118: How to Buy Rental Property Without Going Brokedeal and going broke, so to speak, when we actually start investing in rentals. Truth be told, I think this is a feeling most people feel when they invest their money into anything albeit stocks, bonds, cryptocurrencies, real estate, etc. We all hold that money that we worked so hard to earn near and dear to our heart and the last thing we want to do is make a bad investment. I know this was my fear when we got started. Recently, we had a new member join our Private Facebook...2018-06-2007 minThe RentalRookie PodcastShow117: Should I invest in rural communities or big cities?Yes...yes...yes... I LOVE this question. Call me crazy but this question brings to light one of the things I get most excited about when it comes to investing in rentals....knowing your markets. While there are so many of you out there who wonder this question and think about specifically when you hit the roadblock of not being able to afford to buy in your area. I hear this from people in San Francisco, NYC and even the DC area. True story...this exact problem happened to us when...2018-06-1309 minThe RentalRookie PodcastShow116: Buying and Selling Properties with Tenants in Place: What You Need to KnowWhen it comes to both buying and selling property that has tenants in place, it can get a bit tricky for the landlord and investor. What's most important is that when it comes to this topic you need to understand that tenants have rights. Even if it is your property that you are trying to sell, you can't necessarily spring the news on your tenants the day the property goes on the market. Especially if they are in a long term lease with you. The biggest thing to keep in mind, in both cases, is th...2018-06-0520 minThe RentalRookie PodcastShow115: Investing in Rental Property vs. Other Asset ClassesWhen it comes to investing our money, it's critical that we have a good understanding of what different options are out there for us. More importantly, educating ourselves on these options, whether we use a financial planner or not, is important because at the end of the day it's your money. You should want to know what it is doing, what it is making you and if it's not what other options are out there for you. While we are big proponents of putting money into real estate, I'd be lying if I said that's t...2018-05-2932 minThe RentalRookie PodcastShow114: Building a Team to Invest Out of State with Jennifer BeadlesInvesting out of state is fairly hot topic when it comes to investing in real estate. Especially when it comes to those who like in super expensive areas, like San Francisco or LA. There are plenty that want to get started with investing in rental property but simply can't tap into their own market. But that shouldn't stop them from pursuing financial independence through rental property. The key is having a good team on the ground that you trust and are comfortable with. Our guest this week, Jennifer Beadles, has quite the experience wh...2018-05-2253 minThe RentalRookie PodcastShow113: Who brings the risk to investing in rental property?When it comes to the topic of investing, it's hard not to see the word risk not too far from the conversation. We talk about risky investments and risk protection, diversifying risk and lowering risk. It's hard to not see those two words working simultaneously together. Yet...what if we thought about risk in a new way. I've recently been re-reading Gary Kellar's book The Millionaire Real Estate Investor, and he has a whole section where he breaks down myths around investing in rental property and combats those myths with truths. In particular he speaks abou...2018-05-1515 minThe RentalRookie PodcastShow112: 3 Mistakes to Avoid When Getting a LoanWhen it comes to getting financing for the purchase of a rental (or even a personal home) there are some things that are important to keep in mind that can hurt your ability to qualify or even close on the house. The truth is these are common mistakes that are made all the time by borrowers because they just don't realize that these small things can really impact the qualifying process. Banks want to see a stable and reliable recent financial history and if you've got crazy things happening, it will most assuredly become a hindrance in...2018-05-0811 minThe RentalRookie PodcastShow111: Paying Off Debt & Getting Started with Investment Properties with Ryan OhriIt's always inspiring to hear what other newbie investors are out there doing on their own investing journey and how they've managed to overcome those initial obstacles that hold us all back when we get started. In this episode, Kirk and I bring on Freedom Check Club member, Ryan Ohri. He is a Law Enforcement officer in Nebraska who always had a knack and interest in finance and investing. While his day (and sometimes night) job keep him very busy, he's managed to begin his investing journey and by surrounding himself with like minded individuals grow to 3 pr...2018-05-011h 09The RentalRookie PodcastShow110: Tips for Staying Consistent and Improving ProductivityI think it's safe to assume that at some points in everyone's life or even weekly routines there's a need for improving our productivity and consistency. We can easily get caught up in 'life' and lose focus on our goals and what we are trying to accomplish. As a result, it can be that much harder to get back on track. The truth is all of us face this and while we don't claim to be experts when it comes to consistency and productivity (we can definitely improve ourselves) we felt that it was good to talk ab...2018-04-2418 minThe RentalRookie PodcastHow Community Infrastructure Can Kill Cash FlowThe cool thing about investing in rental property is that there is always something new to learn. Whether you view this as a positive or a negative, as investors we must be open to learning and ready to take some of the unexpected when it happens. While we can run numbers to ensure a good return, spend hours on due diligence of a property and a town and screen the heck out of our tenants....sometimes there are still things that can come up that will eat into cash flow. In this show, Kirk and Emily share a...2017-09-0521 minThe RentalRookie PodcastWhat is the lost opportunity cost of money not invested? In this show, Kirk and Emily share their authentic, candid conversation about whether or not to pay off of one of their properties. While there are many things about investing in real estate you can learn through us at RentalRookie or other great sources online, you don't often get to hear the "behind the scenes" conversations that take place about strategy and investment. As we were about to sit down and talk about this very topic, I immediately stopped Kirk and said "let's record this conversation for the podcast. Then people can hear what our co...2017-08-0423 minThe RentalRookie PodcastShow079: Is there a perfect time to sell a property?When it comes to selling a property from your portfolio there are a lot of factors that investors must consider to ensure that they are making the right choice. In this episode, Kirk and Emily share the details from the recent sale of their first property from their rental portfolio. They share the importance of "selling when you don't have to sell" and how paying attention to the current market trajectory should play into your decision of whether to sell you property. In addition, they share some tips about selling a property that you may...2017-07-2521 minThe RentalRookie PodcastShow73: The 1 Reason Why You Need to Buy Your First Rental NOWGetting started with rental property is typically a pretty scary step for newbie investors. We all assume the worst and fear the new responsibility of taking on total control of our investments. As a result, we tend to put it off. The truth is, putting off buying that first property is only making your timeline of being able to make your money work for you longer. In today's show, Kirk and Emily share with you how when you buy your first property, the clock starts on the two year timeline of being able to allow yo...2017-02-2715 minThe RentalRookie PodcastShow72: How We Built Over a 1 Million Dollar Rental Portfolio with $86,325In today's show, Emily and Kirk share the real numbers behind their entire rental portfolio. From their total value of their portfolio to their total equity, their total cash invested and ROI over the course of the last 5ish years. They share that when they started investing in rental property, they weren't given a bunch of cash. They had to make sacrifices and smart financial choices and save. This enabled them to save for their first down payment on their property. During the show, they talk about the reality that most newbies have to overcome the...2017-02-2221 minThe RentalRookie PodcastShow071: Understanding Return on Investment-Challenge Training #3Emily breaks down the concept of return on investment in order for rookie investors to understand the importance and magnitude this number can play in the investing niche. I shares how when we first got started I couldn't quite grasp the concept of comparing the amount of money put into the property and comparing that to the amount the property made. I just focused on the hard cash that the property made. And there's more to it. I also talk about why it's important to understand how ROI can allow you to compare inve...2017-02-1834 minThe RentalRookie PodcastShow070: Learning The Numbers to Include in an AnalysisToday's show is the raw, unedited audio of our live training from Day 2 of our challenge of analyzing rental property for cash flow. In this training, Emily breaks down and explains each of the numbers you need to include when running an analysis on a property. She breaks down what numbers you'll need for a quick analysis and a more detailed one. Even more, she walks through looking at a listing and the mindset & questions that can arise based off of information that is listed on a listing.2017-02-1542 minThe RentalRookie PodcastShow069:Understanding Investing Lingo-Challenge Training #1Today's show is the raw, unedited audio of our live training from Day 1 of the challenge. In the training, Emily breaks down many of the terms & acronyms that surround the rental property investing niche. She explains with details and examples some of the most confusing terms so that you can talk the talk of rental property investing.2017-02-1432 minThe RentalRookie PodcastShow063: Insights Into Hitting & Not Hitting Yearly GoalsON the final episode of 2016 Emily and Kirk reflect back on the goals they set for themselves and they real estate journey. They share with you what goals they hit, which ones they missed and why and whether or not you should roll the goals over into next year or adjust them accordingly. Tune in to see that everyone, no matter who you are, doesn't always hit your goals! 2016-12-2022 minThe RentalRookie PodcastShow51: Q&A- 3 Ways to Finance Multi-Family PropertiesOne of the most popular questions we hear from lots of listeners and our members of the Private Facebook Group relates to Investing in multi family properties. Kirk and Emily share 3 ways that any individual, rookie or veteran, can go about investing in multi family properties.
Whether you plan to live in one of the units to ensure little money out of pocket, pay cash and refinance your money out 6 months later or use traditional financing to buy it as a sole investment, Emily and Kirk share tips on these 3 different avenues to buying multi family properties.2016-04-2009 minThe RentalRookie PodcastShow50: Q&A- 5 Quick Tips on Improving Your Credit ScoreAre you also wondering how to improve your credit score. This show actually can be beneficial to anyone who is looking to make some gains with their score, even if it's not for investing in real estate. The question how do I improved my credit score came from our Private Facebook Group and Emily and Kirk share 5 quick and easy ways to get your credit on the road to improving.
You can get started tomorrow by simply keeping the number of credit cards to a small number, keeping older accounts active, maintaining low balances and more. Tune in to the...2016-04-1313 minThe RentalRookie PodcastShow49: Q & A- How To Qualify For Financing Without a Salaried Job?Are you in the same boat; wondering how to qualify for financing without a salaried job? Have you even thought about whether or not that can affect your ability to obtain financing? Not having a salaried job can most definitely impact whether you can or can't obtain traditional financing from a bank. This question, from our Private Facebook Group, allows Emily and Kirk to shed light on the reason why banks want to see a history of your income from your new venture before they agree to sign on the dotted line and give you money.2016-04-0609 minThe RentalRookie PodcastShow 48: Q & A- How and Where to Find a Loan Officer With Investing Experience?Today's question comes from a member of our Private Facebook Group who is looking to learn about how to find a loan officer to help in his investing journey. Emily and Kirk discuss why it's important to understand the difference between a loan officer and a certified mortgage planner (CMP). This distinction could help you find the right person to help with your financing options.
They also share a resource on where to find a CMPS and what you should take with you to a discovery meeting with a potential mortgage planner.2016-03-3011 minThe RentalRookie PodcastShow046: Back to Basics: The Basics of Financing Your Beginning DealsWelcome to our last episode of the Back to Basics series. In our last two episodes, we spoke about the Why when it comes to real estate investing and the How. On today's session, Kirk and Emily speak about the basics of financing your initial real estate deals.
Are there multiple ways to finance a real estate deal. OF Course.
The reality, however, is that when you are just starting out your options may be a little more limited because of your lack of a portfolio. Therefore, understanding that there are a few different avenues that y...2016-02-0928 minThe RentalRookie PodcastShow037: Walking Away From a Property AT Closing- What We LearnedYes, you read the title correctly. We recently walked away from a deal literally on the day of closing at the closing table.
While it was an extremely difficult decision to make, at the end of the day walking away saved us a ton of money up front that was NOT part of the plan with this property. Emily and Kirk share with you the details of, what seemed like a great property. They break down the numbers and tell you exactly why this property worked with their portfolio and what their future plans were to make it a...2015-10-2127 minThe RentalRookie PodcastShow036: Using the Closing Date as a Strategy When Buying a PropertyShow 36 is dedicated to sharing with you a tip when you are working on finding a closing date. As a Take 10 segment, Emily's goal is to share with you one thing about investing in rentals on the go. In this show, Emily shares with you how strategically scheduling your closing date can earn you more income from you renter. By having a closing date later in the month, you push back the date of your first payment. As a result, getting a tenant in the property as soon as you close can result in an extra month's payment that doesn...2015-09-2305 minThe RentalRookie PodcastShow035: How Much Cash Do You Need In Reserve to Buy a Property?Show 35 is dedicated to sharing with you a tip for when you are trying to qualify for financing for an investment property. As a Take 10 segment, Emily's goal is to share with you one thing about investing in rentals on the go. In this show, Emily shares with you one thing that banks looks for when you are trying to qualify for financing for your investment properties. For the bank's protection, they require investors to have a reserve fund that can cover the PITI (principal, interest, taxes, and insurance) for a certain period of time in order to qualify for...2015-09-0605 minThe RentalRookie PodcastShow034: Streamline The Process of Obtaining Properties With Defined Partner RolesEmily and Kirk are excited to share with listeners how they manage their business as investing partners. While they are married, they each have defined roles from finding to closing and managing the properties.
They share why it is important to determine each partner's strength and to create a system that makes finding, buying and managing rentals streamlined and easy. While it can be difficult to give up some control of the process to a partner, it can create an efficient well oiled investing machine.2015-08-2017 minThe RentalRookie PodcastShow033: Using Seller Credit as A Tool for NegotiationsShow 33 is dedicated to sharing with you a tip for when you are creating and negotiating a deal. As a Take 10 segment, Emily's goal is to share with you one thing about investing in rentals on the go. In this show, Emily shares with you how you can use Seller Credit in a real estate contract as a strategy. While including it with your offer can keep some cash in your pocket at closing, it can also help you with the negotiations with the seller.2015-08-1106 minThe RentalRookie PodcastShow032: How Tax Assessments Can Ruin Profit MarginsEmily and Kirk are excited to share a story about a recent event in their own community that could potentially have a major impact on the housing market. Their town recently underwent a tax reassessment, the first one since 1968- and many individuals taxes doubled and tripled. For a community where many are on a fixed income, this could have drastic impacts on property values. Tune in to hear why you need to have enough spread between your monthly payments and monthly income.2015-08-0514 minThe RentalRookie PodcastShow030: One Strategy to Maximize Your ROIOn Show 30, Emily and Kirk are focused on sharing one strategy for investing in rental property that can help snowball your portfolio and maximize your return. Getting a Cash Out Refinance on a property you financed or paid with cash can ultimately allow you to own a property free and clear within a few years and be making an infinite ROI.2015-07-2216 minThe RentalRookie PodcastShow029: This Quick "How-To" Can Help You Determine Whether You Can Qualify For FinancingShow 29 is a Take 10 episode focused on teaching you one thing related to investing in real estate. This show focuses on teaching about the debt to income (DTI) ratio that banks use to determine what you are able to qualify for in terms of financing. Emily shares with you what the DTI ratio is, why it is important in your investing journey and how to calculate your own DTI to see if you are under the number banks use. Tune in for a quick "how-to" in investing in rental property.2015-07-1710 minThe RentalRookie PodcastShow028: Are All Investments Created Equal? Why You Need To Think Strategically About Your MoneyTune in to Show 28 for a lively conversation between Kirk and Emily in relation to investing. While they tend to focus on investing in buy and hold properties specifically on this show, they decided to put a different spin on this particular show. As two people who take personal finance very seriously they share their experiences with investing and particularly other ways to invest your money.2015-07-1034 minThe RentalRookie PodcastShow026: 9 Steps to Your First Rental PropertyIn Show 26, Emily shares 9 steps to get you from no property to your first rental property. While being a rookie can be overwhelming and often you don't know where to start, Emily gives you a simplified streamlined process to taking control of your financial future.2015-06-1817 minThe RentalRookie PodcastShow025: The 'Shady' Student Rental: How We Almost Bought an Illegally Occupied PropertyIf you're in the real estate business long enough you will probably run across some shady stuff. In Show 25, Emily and Kirk share a recent story about how they were under contract on a property that was rented to more individuals than was allowed. As a result, they had to decide whether to continue on in the process of buying the property or back out because it was breaking the local zoning ordinances.2015-06-1118 minThe RentalRookie PodcastShow024: Lessons From Our 1st Real Estate Tax AuctionIn Show 23 Kirk and Emily talk about the tax auction that they were preparing to attend after their recent duplex purchase. Show 24 is focused on them sharing their experience at the first auction and what lessons they've learned as a result of this experience.2015-06-0415 minThe RentalRookie PodcastShow023: JUST CLOSED- The 3 Numbers That Turned Out Different Than ExpectedGet excited about show 23! Why? Emily and Kirk share, in real time, the actual numbers of the duplex they just closed on hours before recording this podcast. In Show 20, Emily and Kirk share their concerns about investing in a new market and in a new type of property, a multi-unit. Their candid conversation on the show helped them to come to the conclusion that they wanted to move forward with an offer on this property. Today's show focuses on the real numbers from closing and despite having some numbers turning out to be different, they're earning a higher cash flo...2015-04-2922 minThe RentalRookie PodcastShow022: 8 Things To Do to Prepare For a Tax AuctionTune in to show 22 and join Emily and Kirk as they share how they are preparing for their first tax auction. As real estate investors, they have bought all of their rental units with traditional financing and are looking to make their first cash purchase in the upcoming weeks.
This show focuses on the steps Emily and Kirk are taking to prepare, research and create an action plan for when they attend the auction. Even more, they are looking for tips and advice from anyone who has experience with auctions. Leave a comment below with advice or tip...2015-04-1524 minThe RentalRookie PodcastShow021: One Thing Most Landlords Will Face..A Vacant UnitJoin Emily on this take 10 show as she shares some insight into the realities of owning rental property. Using a property she and her husband own, Emily shares how they have dealt with a vacant unit, why they decided to drop the price and enlist the help of their real estate agent.
The reality of owning rental property has its definite good days and not so great days. While it is great to own properties with great tenants and earn 'passive income' each month, there are times when properties will not have tenants, when water pipes will bu...2015-04-0111 minThe RentalRookie PodcastShow020: Analyzing a Potential Property-What To Think About Before You CommitDon't know where to start when you are going to analyze a property? Join Emily and Kirk, husband and wife investing team, as they talk candidly about a current property that they are contemplating buying. They share everything from the numbers of the property, to the pros and cons of investing in this multi-family. As investors who own property in the Northern VA area, they are looking to invest in rural western PA and share what new realities are making them nervous about moving forward. They also share tips for viewing properties with tenants currently in them and being ther...2015-03-2632 minThe RentalRookie PodcastShow019: Two Months. Two Properties. No Debt.Join Emily on Show 19 with special Julie Kern. Julie and her husband are new buy and hold investors from Georgia. Julie shares her story of how they paid off all of their debt, saved their money, and bought two properties within two months in cash. Her story is one that can resonate with people just getting started as she shares what strategies they used to jumpstart their investing journey.2015-03-1347 minThe RentalRookie PodcastShow017: 6 Ways to Finance Your Next Rental-#4 Requires No Money DownAre you looking to use financing to buy a property? Show 17 is focused on teaching you about the various loan products that are available for those of you out there who want to use financing to purchase a rental. Whether you are ‘house hacking’ your way to your first rental or buying a pure rental property, Kirk and Emily share 6 different loan products for you to think about.
As a loan officer, Kirk helps debunk some myths that surround some of the government logan programs and highlight some information that can often be confusing for consumers. Not only th...2015-02-2639 minThe RentalRookie PodcastShow 015: 0 to 5 Properties While Working a Full Time JobIn Show 5, Elizabeth Ciolegrove joins Emily to share her story in the real estate investing journey. Elizabeth and her husband are part time real estate investors, who have been finding success in the buy and hold niche. While working full time jobs, they successfully have acquired and managed properties in various states throughout the country. Join Emily and Elizabeth has they discuss realities of owning investment properties.2015-02-1357 minThe RentalRookie PodcastShow 014: It's Not Always About the Numbers-4 Other Things to Consider When Analyzing a DealIn this Take 10 show, Emily shares the importance of not only analyzing a deal for the property itself, but also analyzing the area in which you are looking to invest. Often we can get caught up in the numbers and the property itself, forgetting to think about external factors that can influence the ability of our property to get rented. She shares four things to research when looking to invest in a new area.2015-01-3014 minThe RentalRookie PodcastShow 013: The Snowball Effect: Growing Your Portfolio With This One Tip In this Take 10 show, Emily talks about what to consider when it comes to using your income to qualify for another property. Unforunately, just because your property may be making money every month doesn't mean that you can go to the bank and qualify for another loan. Find out the things you must take into account to help you start snowballing the growth of your rental property portfolio.2015-01-2211 minThe RentalRookie PodcastShow 012: Why We Walked Away From a Deal That Yielded us an 80% ROI In Show 12, Emily and Kirk, her husband and investing partner, discuss the pieces of the investing puzzle that come into play beyond the ROI. While, they break down what an ROI is and why it is important, they also share what other things can come into play when deciding whether a property is the right fit for you. Join them, as they share a personal story about how they turned away a deal that would have yielded them an 80% ROI.2015-01-1423 minThe RentalRookie PodcastShow 011: How Driving For Your Business Can Save You Thousands Show 11 is dedicated to sharing with you a resource that you can use to help with managing expenses in 2015. As a Take 10 segment, Emily's goal is to share with you one thing about investing in rentals on the go. In this show, Emily shares with you a new App that she recently learned about and has already started using in 2015 to track mileage expenses so that she and her husband are able to deduct mileage next year on their taxes, potentially saving them thousands.2015-01-0710 minThe RentalRookie PodcastShow010: 7 Different Paths to Investing in Buy and Hold Properties Show 10 is dedicated to helping investors, especially rookies, realize that rental property investing is not a one way street. There is no one size fits all method to finding success in this niche. Even more, there are many different types of properties to invest in that fall under the category of buy and hold properties. In this episode, Emily discusses 7 different types of properties that investors can include in their portfolio. Even if you've started investing, this show can help you think about how you may want to diversify your portfolio. If you haven't started yet, great, this show is fo...2014-12-3035 minThe RentalRookie PodcastShow 009: 9 Things to Prepare for Tax Season in 10 Minutes In this Take 10 segment Emily gives you an overview of 9 things that investors should start gathering and organizing for the upcoming tax season. While this can be a headaches for a lot of people, Emily shares tips on what things you should consider keeping record or and gives advice on getting systems in place throughout the entire year so tax time is less stressful for you. Tune in to this Take 10 show to learn one thing about investing in real estate on the go! 2014-12-1612 minThe RentalRookie PodcastShow 008: Finding, Buying and Managing Properties From 165 Miles Away In Show 8 Emily brings back her husband, Kirk, to co-host an episode dedicated to describing their most recent rental property purchase. Throughout the show, they talk about how they found the deal, they give you exact numbers from their deal down to the penny, and they share tips on managing properties from a distance. Tune in to learn not only about their deal, but to learn many tips for rookie investors just getting started.2014-12-1141 minThe RentalRookie PodcastShow 007: 3 Contract Dates That You Should Never Leave Out Show 007 is the first Take 10 podcast of many to come that is focused on teaching you one thing related to investing in rental property on the go. Sometimes we don’t have the time to listen to extensive shows, hence the creation of the Take 1o shows. Each show will generally be around 10 minutes -give or a take a few :)- and be information dense. The hope is that at the end of the show you will have learned one thing to help you in your real estate investing journey. This show specifically focuses on 3 contingencies that you sho...2014-12-0912 minThe RentalRookie PodcastShow 006: The Successes & Struggles of Investing In Rental Property In show 6 Emily is joined by Patrick Smith who shares how he and his wife were able to take the first step in investing with buy and hold properties. He shares with us how they were able to turn their first home into a rental and the different strategies they've tried all while being active in the military. If you're just getting started and nervous about taking the plunge or have been struggling with buying in a competitive market listen to Patrick's story to inspire you and let you know that you're not alone.2014-12-0428 minThe RentalRookie PodcastShow 005: The 4 Biggest Excuses That Hold Back Rookie Investors In show 5 of the podcast, Emily spends time talking about some of the most common excuses that people make to stop them from investing in buy and hold properties. While she admits to making some of these excuses herself at one point or another, she gives good advice on how you can overcome these excuses and use them to help fuel the need for educating yourself. Listen to the show to see if you've made one of these excuses before and see what advice Emily has for helping you avoid letting excuses become roadblocks for your future.2014-12-0244 minThe RentalRookie PodcastShow 002: How To Kickstart Your Real Estate Empire with Traditional Financing In this show, Emily brings on husband and certified mortgage planner Kirk, to share the traditional financing realm from both a lender and an investor's perspective. Find out how and why traditional financing may be an option for your own investing and what you need to start doing now to ensure you are able to qualify for a loan when you find that perfect property.2014-11-2138 min