Can’t afford to buy a rental property due to your area’s high cost of living? At what point should you quit your W2 job and move elsewhere to realize your real estate investing dream? There are several factors at play here, but we tackle this exact scenario and much more in today’s Rookie Reply!
We also talk about partnerships and how to determine who should be responsible for capital, holding costs, and other expenses when flipping houses. Are you inhering tenants? There’s an important agreement you must have in place when taking over the property. Could one of your residents be subleasing your unit without your permission? You’ll learn how to navigate this situation when it comes to light, as well as what to do when a tenant violates your lease agreement. Want to avoid troublesome tenants altogether? Stick around until the end to hear how Ashley finds the best tenants in town!
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:
When you should consider moving (and quitting your job!) for real estate
How to evict a subtenant who is illegally occupying your unit
The agreement you MUST have in place when inheriting tenants
How to determine who provides the capital in an investing partnership
What you should do when a tenant violates your lease agreement
How to attract the BEST tenants for your rental properties
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!
Enroll in the Real Estate Rookie Bootcamp Today
Become a BiggerPockets Pro Member for Lease Agreements in Your State
Rookie Reply: How to Structure a Real Estate Partnership
How to Find Your Perfect First Rental Property (Even in an Expensive Area)
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-392
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
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200: Scott Trench’s 10-Step Checklist to Buy Your First Rental Property
199: Post, Invest, Profit: A Step-by-Step Guide to Content Creating for Investors w/Kerwin Donis
198: Rookie Reply: What To Do When an Appraisal Comes Back Low?
197: From the Screen to Short-Term Rentals and How "Stargirl" Started Investing w/Brec Bassinger
196: Rookie Reply: How to Use Home Equity to Buy Rentals
195: Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties w/Craig Curelop
194: Rookie Reply: 19 Best Real Estate Investing Apps We Couldn’t Live Without
193: How a College Dropout Got a Seat at the Millionaire Investor Table
192: Rookie Reply: How to Choose Your Real Estate Investment Strategy
191: Expedite Retirement & Learn the Secret to Becoming a Top Producer (Quickly) w/David Greene
190: Rookie Reply: What is Due Diligence in Real Estate?
189: House Hacking: How to Live for Free and Build Wealth in The Background
188: Rookie Reply: Networking Tips That’ll Increase Your Net Worth
187: Making Twice as Much with Half as Many Doors and 100+ Flips
186: Rookie Reply: How to Close on Off-Market Properties
185: 11 Doors and Returning to Real Estate After an 8-Year Hiatus
184: Rookie Reply: Should You Rent to a Bankrupt Tenant?
183: Ditching the "American Dream" & Finding Ways to Live a Wealthier Life
182: Rookie Reply: Rent Out Your Primary Residence or Sell and Buy Rentals?
181: 9 Doors While Deployed and Investing from Afghanistan, Iraq, and Africa
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