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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73: Partnerships: What to Do Before You Jump in With Another Investor
72: Rookie Reply: Cash Out Refinances vs HELOCs | Which Should You Use?
71: Auctions, Section 8 Tenants, and 16 Doors in South Chicago with Martin Neal
70: Rookie Reply: Should I Sell or Rent Out My Primary Residence?
69: Putting Rentals on Autopilot While Living in the Dominican Republic with Becky Nova
68: Rookie Reply: Stop Making Excuses in Business & How to Develop a “Scout Mindset”
67: Moving From Single Family Homes to Self-Storage Units with Dee Brock
66: Rookie Reply: Buying Sight Unseen & Financing Off-Market Deals
65: Multifamily, Mobile Home Parks, and Commercial Deals: All in 2 Years! with Tommy Polise
64: Rookie Reply: How Do I Place Properties Under a Newly Acquired LLC?
63: Diverging From Corporate Life to Flip Houses Full-Time with Sean and Ann Wayne
62: Rookie Reply: What’s The Best Way to Find a Lender?
61: Digital Nomad with 15 Units in 5 Different Areas with Michael Su
60: Rookie Reply: How Do I Analyze Short-Term Rentals?
59: Rookie First-Time Home Buyer Questions Answered by Scott and Mindy
58: Rookie Reply: Doing The Work Yourself vs. Hiring Out
57: Virtual Assistants, Roach Infestations, and Turnkey Companies with Maria Acosta
56: Rookie Reply: Tips on Owner Financing Then Refinancing Out
55: Combining House Hacking and Live in Flips with Tyler Madden
54: Rookie Reply: The BEST Apps for Real Estate Investors
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