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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106: Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert
105: Don't Lose Your Portfolio to Lawsuits! Here's How to Protect Yourself
104: Rookie Reply: Do I Need a Lawyer to Evict Tenants?
103: From Restaurant Waiter to 100+ Deals in Only 4 Years w/ Derrick Acuff
102: $10M Profit On Her First Deal?! It's Possible with Campground Investing
101: Campgrounds: The Investment You've (Probably) Never Thought About
100: Why Brandon Turner Encourages Rookies to "Start Small and Scale"
99: Buying a 51-Unit Property with 0% Interest and No Money Down
98: Rookie Reply: Lessons Learned from Our First Real Estate Deals
97: 19 Units in 1 Year and Starting a “Luxury House Hack”
96: Rookie Reply: How Much do Property Managers Charge?
95: Buying Your Next Home with This Often Overlooked 0% Down Loan
94: Rookie Reply: Should I Invest in Real Estate or Pay Off Student Loans?
93: Stop Making Offers! Here’s What to Do Instead with Erik Wright
92: Rookie Reply: How to Fund Rehabs and Renovations
91: 8 Units, 10 Wholesale Deals, and $0 Spent on Marketing w/ @Liliinvests
90: Rookie Reply: How to Find the Owner of a Property (Without Being Creepy)
89: Buying Non-Traditional Properties as a Rookie Real Estate Investor
88: Rookie Reply: Analyzing a Short-Term Rental Market
87: Couple Leaves Their W2s (During COVID!) To Go Full Time in Real Estate
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