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
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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
118: Stop Scrolling, Start Posting: Social Media for Real Estate Investors
117: From 0 to 12 Units Overnight and House Hacking a...Farm?
116: Rookie Reply: Can Agents Help You Find Off-Market Deals?
115: The BRRRRent-to-Own Strategy: A Win-Win for Tenants and Landlords
114: Rookie Reply: Should I Get Preapproved From Multiple Lenders?
113: The 6 Traits Every New Real Estate Investor Needs to Succeed
112: Rookie Reply: Should You Invest in an Expensive Real Estate Market?
111: 26 Doors in 1 Year? Here’s How You Can Do It Too!
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