Every landlord wants the best possible tenants in their rental property, but of course, this doesn’t happen by chance. Today, we’re delivering several tips to help you improve the screening process, work seamlessly with inherited tenants, and raise rents without pushback!
Welcome to another Rookie Reply! In this episode, we not only talk about dealing with tenants but also get into the different types of hard money loans and how to use them. Is an accessory dwelling unit (ADU) attached to the property you’re looking to buy? We discuss how showing its potential income can help you qualify for a loan. Finally, real estate investing is no walk in the park, despite what social media might have you believe. Stick around as we touch on some of the hard truths that new investors should know!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
How to screen tenants for your rental (and the three types of checks you need to run!)
Why you NEED estoppel agreements when inheriting tenants
Different types of hard money loans (and what they cover)
How to bolster your loan approval odds with accessory dwelling unit (ADU) income
The hard truths people DON’T tell you about investing in real estate
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Real Estate Partnerships”
Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley
Tenant Screening Tools for Landlords:
BiggerPockets Pro
Avail
RentRedi
AppFolio
Buildium
TenantReports.com
Set Up Your Own Virtual Mailbox with PostScan Mail
Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-374
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
440: Rookie Reply: Rent-Raising Renovations, the 1% Rule, & Quitting Real Estate
439: Real Estate Bookkeeping: A Crash Course for Getting Your Financials in Check w/Sarah Bratcher
438: House Flipping 101: How to Find Deals, Vet Contractors, & Manage a Rehab w/Sean & Ann Wayne
437: Rookie Reply: What EVERY Rookie Must Learn Before Investing in Real Estate
436: “Snowballing” to 12 Doors in 4 Years & Replacing TWO Six-Figure Salaries w/Emily Love
435: Transforming a Risky First Rental Into a Profitable Property by Doing THIS w/Noreen & Derek Eddy
434: Rookie Reply: Buying Your NEXT Rental & How to Save a Fortune on Renovations
433: The Million-Dollar Real Estate Business YOU Can Start Today with Just $150 w/Brittany Hailey
432: From Losing Her Health, Home, & Marriage to Chasing Financial Freedom (5 Doors!)
431: Rookie Reply: Build Your Portfolio OR Pay Off Debt & Tenant Conflict 101
430: My Rental Burned Down! What I Wish I Knew Before It Happened w/Aaron Sallade
429: The Investing “Map” You NEED to Uncover Hot Markets, Neighborhoods, & Deals w/Ariel Herrera
428: Rookie Reply: How to Analyze Rentals for Cash Flow & Manage a Rehab Project
427: Is Rent-to-Own the Easiest and Most “Passive” Way to Scale Your Portfolio? w/Jenn & Joe Delle Fave
426: 6 Properties & Financially Free in Just 3 Years ($20K/Year from ONE Rental) w/Jayson Ewert
425: Rookie Reply: How to Pass Down Generational Wealth & Top Airbnb Amenities
424: 5 “Tactical” Tips to Boost Rents, Cash Flow, and Property Value w/Angel Garcia
423: Making $15K/Year & Living with His Mom to 5 Deals in 5 Years with LOW Money w/Todd Fullerlove Jr.
422: Rookie Reply: How to Invest with $100K & Managing Home Renovations
421: Turning a “Failed” Property Into a $7K/Month Rental by Doing THIS Instead w/Kayley George
Create your
podcast in
minutes
It is Free
BiggerPockets Real Estate Podcast
BiggerPockets Money Podcast
BiggerPockets Business Podcast
BiggerPockets Daily
The InvestHER Podcast