There are ebbs and flows in every real estate investing journey, but not every home renovation project results in a six-figure loss! Fortunately, today’s guests learned one very expensive lesson so that YOU (hopefully) don’t have to!
Welcome back to the Real Estate Rookie podcast! Justin Noe and Nate Cherubini are real estate investing partners with top-notch problem-solving skills. But not even that could stop them from making a MAJOR blunder on one of their real estate deals—a mistake that cost them a whopping $120,000. After dealing with termites, zoning issues, and bad contractors, this dynamic duo had every reason to give up on real estate—but didn’t!
In this episode, Justin and Nate stress the importance of keeping your contractors in check and fostering healthy relationships in real estate. They also talk about why you should build your buy box early on in your investing journey and how to get your family on board with your real estate investing goals!
In This Episode We Cover:
How this duo bounced back after a $120K failed home renovation project
Choosing your buy box early on (and avoiding “shiny object syndrome”)
Why you NEED a good “ground game” when investing out-of-state
The BEST way to use private money or hard money on a house flip
Finding a complementary real estate investing partner
How to get your family on board with real estate investing
And So Much More!
Links from the Show
Find an Agent
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Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
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Ask Us Your Investing Question
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount
Sign Up for the Real Estate Investing Virtual Summit
How Tony Lost $100K on ONE Real Estate Deal (AVOID These Critical Mistakes)
Making $71K on ONE Deal After 5 Failed House Flips and Six-Figure Debt
Books Mentioned in the Show
Real Estate Partnerships by Ashley Kehr & Tony Robinson
Vivid Vision by Cameron Herold
Connect with Justin:
Justin's BiggerPockets Profile
Justin's Facebook
Justin's Instagram
Justin's LinkedIn
Connect with Nate:
Nate's BiggerPockets Profile
Nate's LinkedIn
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-357
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437: Rookie Reply: What EVERY Rookie Must Learn Before Investing in Real Estate
436: “Snowballing” to 12 Doors in 4 Years & Replacing TWO Six-Figure Salaries w/Emily Love
435: Transforming a Risky First Rental Into a Profitable Property by Doing THIS w/Noreen & Derek Eddy
434: Rookie Reply: Buying Your NEXT Rental & How to Save a Fortune on Renovations
433: The Million-Dollar Real Estate Business YOU Can Start Today with Just $150 w/Brittany Hailey
432: From Losing Her Health, Home, & Marriage to Chasing Financial Freedom (5 Doors!)
431: Rookie Reply: Build Your Portfolio OR Pay Off Debt & Tenant Conflict 101
430: My Rental Burned Down! What I Wish I Knew Before It Happened w/Aaron Sallade
429: The Investing “Map” You NEED to Uncover Hot Markets, Neighborhoods, & Deals w/Ariel Herrera
428: Rookie Reply: How to Analyze Rentals for Cash Flow & Manage a Rehab Project
427: Is Rent-to-Own the Easiest and Most “Passive” Way to Scale Your Portfolio? w/Jenn & Joe Delle Fave
426: 6 Properties & Financially Free in Just 3 Years ($20K/Year from ONE Rental) w/Jayson Ewert
425: Rookie Reply: How to Pass Down Generational Wealth & Top Airbnb Amenities
424: 5 “Tactical” Tips to Boost Rents, Cash Flow, and Property Value w/Angel Garcia
423: Making $15K/Year & Living with His Mom to 5 Deals in 5 Years with LOW Money w/Todd Fullerlove Jr.
422: Rookie Reply: How to Invest with $100K & Managing Home Renovations
421: Turning a “Failed” Property Into a $7K/Month Rental by Doing THIS Instead w/Kayley George
420: From Pizza Delivery Driver to 11 Rental Units Using Savvy Seller Financing w/Greyden Piechnick
419: How to Use Science to Find the Right People for Your Real Estate Business w/Richard Davis, Ph.D
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