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
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Ashley's BiggerPockets Profile
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Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
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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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340: Why Self-Storage Beats Rental Properties w/AJ Osborne
339: A Beginner’s Guide to the BRRRR Method (Buy, Rehab, Rent, Refinance, Repeat)
338: Rookie Reply: How to Find RARE Rentals by Buying Properties in Preforeclosure
337: $12K/Month from 4 Rentals: How to TRIPLE Your Revenue by “Reinvesting” w/Zoey Berghoff
336: Rookie Reply: What is ARV in Real Estate & Why It’s Crucial to Get Right
335: 8 Rentals in UNDER 1 Year: A Rental Property Financing Masterclass w/Tim Yu
334: Rookie Reply: Non-Renewal Notices, Rental Arbitrage, and Hard Money 101
333: How to Turn Your Rental Property Profits into a Huge Real Estate Portfolio w/Kevin Cullen
332: Rookie Reply: First Rental? Security Deposits, Credit Checks, & Evictions 101
331: How to Find Your Perfect First Rental Property (Even in an Expensive Area) w/Lyrva Sanchez
330: The Rookie’s Step-by-Step Guide to Home Renovation Projects w/Serena Norris
329: Buying a Rental Property for $80 with This Loan w/Clint Campbell
328: David Greene on The 3 "Pillars" of Wealth That Lead to Financial Freedom
327: From Parents’ Basement to Full-Time Investor and $2,500/Month with ONE Rental w/Noah Sprimont
326: The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals w/Nate Robbins
325: How to Retire with “Turnkey” Rental Properties (as a COMPLETE Beginner) w/Sam Dolciné
324: Rookie Reply: How to Make an IRRESISTIBLE Offer Through Creative Financing
323: 10 Real Estate Deals in 18 Months After Losing 80% of His Income w/Matt Ramirez
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