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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278: Rookie Reply: Finding Comps, Estimating Rehab Costs, and Filling Vacancies
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275: From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!) w/Mike Larson
274: Rookie Reply: Inheriting Tenants, Getting Pre-Approved, and Raising Rent
273: Making $100K in 18 Months with “Misfit” Medium-Term Rentals w/David Rosenbeck
272: Rookie Reply: How to Get a DEEP DISCOUNT on Properties with Back Taxes
271: $900K in Real Estate at Age 17 by Doing What 99% of Teenagers Won't w/Ava Yuergens
270: Rookie Reply: Airbnb Arbitrage, Turnkey Rentals, and When to Use a HELOC
269: Rookie to Real Estate Investor: College Rentals, Airbnbs, & Plumbing Problems
268: Rookie Reply: Seller Financing, Squatters, and Is Becoming an Agent Worth It?
267: 24 Units in 2 Years by Making Your Rentals Match the Market w/Andrew Freed
266: Rookie Reply: Unpermitted Renovations, House Hack Profits, and Frozen Pipes
265: Making $90K/Year with Just ONE Rental by Combining Compassion and Cash Flow w/Devana Came & Reid Stadelman
264: Rookie Reply: Building vs. Buying and Avoiding Capital Gains on a Sale
263: Rookie to Real Estate Investor: House Offer Accepted! Now What?
262: How to SCALE Your Real Estate Portfolio in 2023
261: How Nancy Rodriguez from 'Love is Blind' Hit Financial Freedom BEFORE Fame
260: Rookie Reply: When Can You Refinance and How to AVOID Taxes on a Home Sale w/Amanda Han
259: No Down Payment? No Problem! Three Creative Financing Options to Consider w/Pooja Jindal
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