Every landlord wants the best possible tenants in their rental property, but of course, this doesn’t happen by chance. Today, we’re delivering several tips to help you improve the screening process, work seamlessly with inherited tenants, and raise rents without pushback!
Welcome to another Rookie Reply! In this episode, we not only talk about dealing with tenants but also get into the different types of hard money loans and how to use them. Is an accessory dwelling unit (ADU) attached to the property you’re looking to buy? We discuss how showing its potential income can help you qualify for a loan. Finally, real estate investing is no walk in the park, despite what social media might have you believe. Stick around as we touch on some of the hard truths that new investors should know!
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:
How to screen tenants for your rental (and the three types of checks you need to run!)
Why you NEED estoppel agreements when inheriting tenants
Different types of hard money loans (and what they cover)
How to bolster your loan approval odds with accessory dwelling unit (ADU) income
The hard truths people DON’T tell you about investing in real estate
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!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Real Estate Partnerships”
Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley
Tenant Screening Tools for Landlords:
BiggerPockets Pro
Avail
RentRedi
AppFolio
Buildium
TenantReports.com
Set Up Your Own Virtual Mailbox with PostScan Mail
Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-374
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
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
258: Rookie Reply: How to Find Out Who Owns a Property and Direct Mail 101
257: Rookie to Real Estate Investor: Seller Financing, STR Markets, & Lowball Offers
256: Rookie Reply: Escaping the Corporate Rat Race and Property Management Q&As w/Isaac Lane
255: How to (Legally) Avoid Taxes by Investing in Real Estate w/Amanda Han
254: Rookie Reply: Can You Put Offers on Multiple Houses? w/Jake Kain
253: How to Build Your Financial Foundation BEFORE Investing in Real Estate w/Malia Gudenkauf
252.5: How to Buy Your First Rental Property in 11 Steps
252: Rookie Reply: Tenant Not Paying Rent? Here’s What to Do w/Alexandra Burnham
251: Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls
250: Rookie Reply: 2023 Risks, The True Cost of Owning Rentals, and Live Q&A w/Pace Morby & Jamil Damji
249: Simple Steps to Start, Scale, and Grow a Real Estate Business in 2023
248: Rookie Reply: Do You NEED an LLC for Rental Property?
247: From $40K in Debt to 4 Properties and How to Snag a Low Mortgage Rate in 2023 w/Lindsey Iskierka
246: Rookie Reply: The 3 Signs of a Perfect Rental Property Market
245: Escaping the “Grind" through Van Life and Cross-Country Investing w/Tony Clark
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
BiggerPockets Real Estate Podcast
BiggerPockets Money Podcast
BiggerPockets Business Podcast
BiggerPockets Daily
The InvestHER Podcast