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
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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
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Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-374
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137: Turning $3,000 into 10 Doors (As a Former Parolee)
136: The 6-Step Process for Buying Your First Rental Property
135: 2 Houses Flipped as a Part-Time Real Estate Agent & Full-Time Father
134: Rookie Reply: Loan Amortization and Balloon Payments Explained
133: From Server to Landlord with 10+ Units at 24 Years Old
132: Find Money, Partners, & Deals Using The “D.A.D System” w/ Mike Michalowicz
131: 4 Units At 20 Years Old & Ditching Med School for Multifamily
130: Rookie Reply: How to Spot Scam Wholesale Deals
129: 5 Properties After Spending 8 Years in Prison (With ZERO Credit!)
128: Rookie Reply: Finding & Financing Bigger Real Estate Deals
127: Buying Property While Stationed Overseas (and a $40k Rookie Mistake!)
126: Rookie Reply: Want to Be a Full-Time Investor? Learn These Skills!
125: Using OnlyFans to Fund Ownership in Her First BRRRR w/ Brin Amberlee
124: Rookie Reply: Tony & Ashley Talk Challenges They Face Today
123: ‘Building’ Wealth as a 24-Year-Old with 12 New Construction Projects
122: 96 Units in 5 Years By Combining Long & Short-Term Rentals
121.5: The Biggest Takeaways from BPCon 2021 | Live Host Panel from NOLA
121: 10 Units in Multiple States, All in Just Under 2 Years!
120: Rookie Reply: Can I Cash-Out Refi After a 1031 Exchange?
119: A Single-Mom’s Second Chance at Success with Real Estate Investing
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