I enjoyed the entirety, including the questions at the end. They relate to purpose. Why go on this investing journey? Not strictly for the money, but with greater goal in mind to build wealth and fund your lifestyle. Perspective, intention and purpose are all relevant here. The end rounds you back to purpose and mindfulness in REI. This thinking can also support your ability to walk away from bad deals, instead of getting emotionally invested in a property/deal. Invest in your purpose, not the deal.
What an episode!!!! With 45k to start with, this has given me an idea to what my first step should look like in real estate investing!!! Thanks bigger pockets!!!
Awesome! AWESOME podcast/show! What a great young couple, as a practical example of not only how to get it done, but get it done right. Informational, validating, and just very refreshing. Keep it coming, thanks.
I am re-acquainting myself with Bigger Pockets and just stumbled upon this new podcast while looking for others. Great idea. I can really relate. It's cool to see a young couple getting started on this earlier in life - I didn't start until I was 59! And I appreciate the moderators prompting with questions lots of us newbies need answered but don't know enough to ask. Especially the parts about how to find a good meetup. I've been to a few clunkers myself, and only recently found some folks who are really helpful and on-fire, not just looking to make money off other attendees.
Gotta push through the fear to get that first one does! Like Brandon says "Your first deal is about gaining knowledge, and getting your feet wet! NOT making you rich!"
1) Great financial habits. Savings rather than lifestyle inflation. 2) Shared interest and education on increasing networth. You can do it on your own but it's better if your partner shares the same goal. 3)Sacrifice. Better rates with owner occupancy multiunits. 4) Know your market. Middle class tenants, locations, city plans, types of tenants, pain points, negotiation strategies, etc. 5) Importance of relationships and team.
Loved this video! I'm also a rookie but I have two properties that cash flow me $1100/mo! I talk about my experiences and knowledge on my RUclips channel!
Loved this! I haven't done a BRRRR yet, but the two properties I have cash flow me $1100/mo! I talk about experiences and knowledge on my RUclips channel!
Right?! I hope I can actually get on this Rookie Podcast because I currently have two properties that cash flow me $1100/mo! And I just started 7 months ago! I talk about my experiences and knowledge on my RUclips channel!
Carissa Desilus, I’m with you on that. I’ve been soaking up information for about 2yrs, been to meet ups and my introvertness kicked in and I quit going.....Just got a little blessing financially and I’m gonna get back into it. I know you’ve soaked up so much information too and it makes sense to you. If you have the money, just do it✊🏿❤️
Noob question: If you buy a rental investment property on your own, do you buy it on your name with rental as purpose for financing or do you buy on a LLC. Also do you require your tenants to have their renter's insurance or is that an optional thing.
It all depends on your goals. If the LLC is what you need to have the confidence to start, then start an LLC. But most beginning investors don't need one.
If you already have an LLC you might aswell sign it in the corporations name to get as much protection as you can. If you sign it with your name and a tenant decides to hold a judgement against you for any reason, the only protection you’d have is with your insurance and in most circumstances that is not enough. If the insurance isnt able to cover it all that tenant would be able to get their hands on not only the property but any of your assets that are not put into separate corporate entities aswell since that property was not signed by your LLC.
caymera1229 it all depends on your strategy. You can certainly buy and hold it in your own name and rent it (I’d suggest a good umbrella policy). Yes we require all tenants to have their own renters insurance.
Cool. There are still many terms undefined, like "comps," etc. but overall great. I thought a glossary with each term defined would be great, such as below the video.
Javier Felix if you know anyone who has refinanced properties in your target area, ask to see their appraisal report so you can see how the appraiser values certain line items.
Thrifts N' Dreams you talking about a gap between base and plank? If so, you need to add base shoe. If there are gaps between, you can use a laminate edge bar to try and pound the flooring tighter.
A wholesaler is someone everyone hates because they find the discounted deals but couldn't do without them. Trust me after 10 years, I know everyone hates me as a wholesaler but I find deals they can't so buyers have to deal with me. lol
So specific example of that would be our duplex. We renovated the downstairs unit first then moved to the upstairs unit. While doing the upstairs unit bathroom, I found some galvanized water line and had to replace it. In order to do so I had to cut open ceiling I had just finished in the downstairs unit. So we learned that the hard way. Do all trades at the same time for all units.
@@corevaluesinvestmentgroup8940 As a rookie who started learning about REI 60 days ago, I'm glad they are making this new "rookie" branded content. maybe Brandon and David could put terminology definitions on screen during the main "pro" podcasts.... Wouldn't help audio-only listeners, but those of us who watch the podcast as well. 🤔
This type of shows continue to give me inspiration to get my feet wet in this type of real business! Thanks
40:23 Having a pulse on the market at all times, even if you're not ready to buy, is super important.
Tip: Always be prepared.
His wife aint no rookie! great podcast guys keep up the great work!
I enjoyed the entirety, including the questions at the end. They relate to purpose. Why go on this investing journey? Not strictly for the money, but with greater goal in mind to build wealth and fund your lifestyle. Perspective, intention and purpose are all relevant here. The end rounds you back to purpose and mindfulness in REI. This thinking can also support your ability to walk away from bad deals, instead of getting emotionally invested in a property/deal. Invest in your purpose, not the deal.
I’d like to hear real numbers like gross rents, net rents, total value, total debt etc.
I loved this episode!!! These type of testimonials are great for beginners like myself. You did an amazing job hosting as well Ashley 😁
Great follow up questions!!
Great episode guys! Super fun and informative show! I look forward to the next episode!
Link The Hero Of Time me to lol
What an episode!!!! With 45k to start with, this has given me an idea to what my first step should look like in real estate investing!!! Thanks bigger pockets!!!
I’m so glad to be apart of this first episode. And to know felippe and Ashley is from my neighborhood is awesome ( New Jersey)
omg so fun!!! really great episode. better than Netflix ANNY day :-D
Amazing first show with a great real estate couple!!!
Karl Knaupp thanks Karl!
Right? They complement each other so well!
Awesome! AWESOME podcast/show! What a great young couple, as a practical example of not only how to get it done, but get it done right. Informational, validating, and just very refreshing. Keep it coming, thanks.
Amazing episode. Also can't wait to listen to this new series that bigger pockets is coming out with.
Great video guys.
This sounds like an awesome show. Can't wait to watch/listen! I already subscribed to the podcast.
Same!
I am re-acquainting myself with Bigger Pockets and just stumbled upon this new podcast while looking for others. Great idea. I can really relate. It's cool to see a young couple getting started on this earlier in life - I didn't start until I was 59! And I appreciate the moderators prompting with questions lots of us newbies need answered but don't know enough to ask. Especially the parts about how to find a good meetup. I've been to a few clunkers myself, and only recently found some folks who are really helpful and on-fire, not just looking to make money off other attendees.
What a great start. Absolutely needed. It's good to hear how newbies are getting it done.
Great episode . Really enjoyed the guest! Thanks for the motivation
Gotta push through the fear to get that first one does! Like Brandon says "Your first deal is about gaining knowledge, and getting your feet wet! NOT making you rich!"
Thanks, Joel! So happy you got something out of it.
1) Great financial habits. Savings rather than lifestyle inflation.
2) Shared interest and education on increasing networth. You can do it on your own but it's better if your partner shares the same goal.
3)Sacrifice. Better rates with owner occupancy multiunits.
4) Know your market. Middle class tenants, locations, city plans, types of tenants, pain points, negotiation strategies, etc.
5) Importance of relationships and team.
Can't wait. Hear about it yesterday from BP Money
Loved this video! I'm also a rookie but I have two properties that cash flow me $1100/mo! I talk about my experiences and knowledge on my RUclips channel!
Your first show guys so many good experiences until today!!!
This is inspiring. Great show guys!
This is fantastic! Keep this going!!!
I teach people about real estate investing for rookies on my RUclips channel as well!
Here for the first show! Let's do this!
Jason Blevins Wait this is the first one, oh crap. Nice job Bigger Pockets
Great episode looking forward to more beginner myself !
This is one of the better episodes. Maybe because I connected with it
LM agree
Great information thanks guys
Great show! Cant wait to make this part of my weekly routine.
M Boychi glad you enjoyed it!
Loved this! I haven't done a BRRRR yet, but the two properties I have cash flow me $1100/mo! I talk about experiences and knowledge on my RUclips channel!
Awesome combo!
Really appreciate the detail, so helpful. Thank you!
Jodi J Glad you found it helpful!
Same! I love this stuff!
Great show for us beginners
Agreed!
What a great episode. Its really cool to see how Ashley's skills as a podcast host have grown as well as the growth of this couples RUclips
Job well done biggerpockets. This one will be a hit
[32:40] I can't say this enough! Meet ups are where it's at! 🙌🏻
Dude Real Estate everytime
Having that solid network of like minded individuals who are all at different stages of investing is so valuable!
Rentals to Wealth YES! I look forward to our meetup every week.
So excited for this!
That was fantastic! I loved that episode! Can't wait for more!
Right?! I hope I can actually get on this Rookie Podcast because I currently have two properties that cash flow me $1100/mo! And I just started 7 months ago! I talk about my experiences and knowledge on my RUclips channel!
Real estate big bit me in 2016 but I have been stuck for soooo long. 😫😫 trying to overcome analysis paralysis
Carissa Desilus, I’m with you on that. I’ve been soaking up information for about 2yrs, been to meet ups and my introvertness kicked in and I quit going.....Just got a little blessing financially and I’m gonna get back into it. I know you’ve soaked up so much information too and it makes sense to you. If you have the money, just do it✊🏿❤️
Timothy Walker I feel like if I don’t do something now I’ll die from the “what if’s”.
Carissa Desilus lol it’s so real. All it takes is that first deal and you develop the momentum to keep driving!
Where is the bigger pockets calculator?
Waht an awesome show, thank you for such a valuable information
Noob question: If you buy a rental investment property on your own, do you buy it on your name with rental as purpose for financing or do you buy on a LLC. Also do you require your tenants to have their renter's insurance or is that an optional thing.
It all depends on your goals. If the LLC is what you need to have the confidence to start, then start an LLC. But most beginning investors don't need one.
If you already have an LLC you might aswell sign it in the corporations name to get as much protection as you can. If you sign it with your name and a tenant decides to hold a judgement against you for any reason, the only protection you’d have is with your insurance and in most circumstances that is not enough. If the insurance isnt able to cover it all that tenant would be able to get their hands on not only the property but any of your assets that are not put into separate corporate entities aswell since that property was not signed by your LLC.
caymera1229 it all depends on your strategy. You can certainly buy and hold it in your own name and rent it (I’d suggest a good umbrella policy). Yes we require all tenants to have their own renters insurance.
Cool. There are still many terms undefined, like "comps," etc. but overall great. I thought a glossary with each term defined would be great, such as below the video.
My favorite REI couple
@beardybrandon I went to the Bigger Pockets website for the first time during this video.
I dont know where you guys are from in south jersey but glassboro nj around Rowan should be your next look
For rentals or filp?
Yess lol we both actually went to Rowan!
@@RentalstoWealth did you ever try philisburg?
Love the podcast but questions at the end are silly and irrelevant. But it’s the first and I’m sure it will only get better!
Did they have the 4 properties under an llc or under their individual names?
I’m sorry but this title was very captivating and that’s why I clicked.
The brain and the muscle. great couple!
Great show! Inspirational! What Hillary Duff song was that?
The song is called Coming Clean!
@@RentalstoWealth thank you
What is one of the best ways to add value to a property during a rehab, best dang for your bucks?
Javier Felix if you know anyone who has refinanced properties in your target area, ask to see their appraisal report so you can see how the appraiser values certain line items.
david greene in the BRRRR book
mentions to focus mainly on the kitchen and the bathroom for rehab
Are you just buying these properties or using an llc. Banks let you get unlimited mortages?
awesome stuff, from my area even!
Can you go with hardmoney or private lender to do the BRRR? If you don't have no money to out down to get the porperty
What does she mean when she mentions renovating by trade instead of renovating by room at [26:24]?
Smart couple, cool story.
Thanks, Tom! Glad you enjoyed it.
What do y'all mean by counting meters?
You can easily identify if a house is a multifamily by how many utility meters are on the side.
Got it. That's what I thought. Thank you for replying.👍
Im curious what they mean when they say they don't have to follow Fair housing laws?
I did vinyl plank flooring and now it is spaced too much even after putting down the trim baseboard. Advice on fixing this problem?
Thrifts N' Dreams you talking about a gap between base and plank? If so, you need to add base shoe. If there are gaps between, you can use a laminate edge bar to try and pound the flooring tighter.
@@corevaluesinvestmentgroup8940 its between, ive done the tightening thing and it spaces out again might need a base shoe
If Real Estate doesn’t work out Kyle could snag a record deal and Lauren can manage! 😂😆
A wholesaler is someone everyone hates because they find the discounted deals but couldn't do without them. Trust me after 10 years, I know everyone hates me as a wholesaler but I find deals they can't so buyers have to deal with me. lol
Wonder what did the use a lawyer for?
Probably drafting contracts, title search, etc.
Joshua Henderson Correct. When we bought directly from owner we used a lawyer to draft contracts for closing.
👍🏾
Disappointed with the questions asked at the end...I'm here to learn about real estate not bucket list items and other things
They tried that on the regular podcast already a while ago and got rid of it because people didn't like it.
how did you get donald trump jr on the podcast?
Been watching the real state rookie podcast....what happened to this host??
When they said "we learned reno by trade not by room" i would have asked them to expand on that
Good point. Would have been a good teaching opportunity.
So specific example of that would be our duplex. We renovated the downstairs unit first then moved to the upstairs unit. While doing the upstairs unit bathroom, I found some galvanized water line and had to replace it. In order to do so I had to cut open ceiling I had just finished in the downstairs unit. So we learned that the hard way. Do all trades at the same time for all units.
🤯
This rookie series seems more like a chit chatty happity hip family show
911RoyMan we will do our best to make it as informative possible
Felipe Mejia i enjoyed it. Hopefully this will help the normal podcast too. So Brandon and David don’t have to ask everyone explain terminology.
@@corevaluesinvestmentgroup8940 As a rookie who started learning about REI 60 days ago, I'm glad they are making this new "rookie" branded content.
maybe Brandon and David could put terminology definitions on screen during the main "pro" podcasts.... Wouldn't help audio-only listeners, but those of us who watch the podcast as well. 🤔
Hiring illegals and unlicensed contractors is a great way to save money.
Until what the did causes a fire, someone dies, and your sued for millions.
Zack Howard such a generic statement. That could be said of everything. I will gladly take those odds all day everyday.