What goes into a commercial real estate deal? You’re about to find out! Fortunately, buying one of these properties isn’t quite the jump from residential real estate as you might expect it to be. Whether you’re a new investor or own several rentals, YOU, too, can buy a commercial property!

Welcome back to the Real Estate Rookie podcast! A few months back, we chatted with Tony about his new thirteen-unit hotel in Utah. Since then, the hotel has officially launched, and today, we’re joined by not only Tony but also his wife, Sara, to discuss the ins and outs of this enormous project. With months of planning, rehabbing, and problem-solving in the rearview, they break down the deal from start to finish—sharing some of their biggest successes, as well as some important lessons learned.

If you’re interested in commercial real estate investing, you don’t want to miss this episode! You’ll learn how to create a budget for a large renovation project, choose a model for paying contractors, get better reviews for your short-term rental, and form a seamless partnership with your spouse!

In This Episode We Cover
How the Robinsons planned, rehabbed, and launched a thirteen-unit hotel
Implementing self-check-in convenience on a commercial property
How to create a watertight budget for a large renovation project
Effective strategies for managing and paying your contractors
How to divvy up responsibilities when investing with your spouse
How to get MORE bookings (and keep your property occupied year-round!)
And So Much More!

(00:00) Intro
(02:43) Managing & Paying Contractors
(09:43) Numbers on the Hotel
(15:37) HUGE Lessons Learned
(18:49) Self-Check-In Challenges
(25:11) Building a Team & Getting Reviews
(28:41) Working with Your Spouse
(35:17) Connect with the Robinsons!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-406
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

406: Inside Our FIRST Commercial Real Estate Deal (A 13-Unit Hotel!) w/Tony & Sara Robinson

Ready to build your real estate empire… but not sure where to begin?
Think of us as your personal trainer.
From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.
Looking to 10X your real estate investing business this year? This show isn’t for you.
Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. 
Every Monday, Wednesday and Friday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.

Education

Training

Language Courses

Higher Education

K-12

Educational Technology

Business

Investing

Careers

Management & Marketing

Business News

Shopping

Entrepreneurship

How To

If real estate investing was easy, everyone would be doing it! The truth is that, despite the financial freedom and flexibility it offers, investing is hard work. And it’s even more difficult if you’re working a full-time job or raising a family. But with good time management and a little sacrifice, you can do it!

Welcome back to another Rookie Reply! In today’s episode, we talk about the challenges of juggling a nine-to-five job and investing. We also discuss some of the most important documents you need when creating lease agreements or inheriting tenants. Are BAD neighbors causing headaches and scaring away your best tenants? We have several solutions to this problem—including one that will help you avoid the issue before you commit to buying a rental property: ordering a property survey and setting boundaries!

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 YOU can make time for real estate investing while working nine-to-five
Three documents you need to be in place when inheriting tenants
How to deal with troublesome neighbors (while buying more rentals!)
Why you MUST include lien prohibition notices in your lease agreements
Why every investor should order a property survey before buying a rental property
And So Much More!

(00:00) Intro
(00:46) Making Time for Real Estate
(07:49) Inheriting Tenants 101
(12:51) Lien Prohibition Notices
(17:21) Dealing with BAD Neighbors
(26:15) Do You Need a Survey?
(31:58) Send Us Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-413
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

413: Rookie Reply: How to Invest in Real Estate While Working 9-5

Want to invest but fear you don’t have enough money to get started? Building a profitable real estate business could be the answer. This strategy allowed today’s guest to not only scale her portfolio but also develop skills to level up her own rental properties AND bring in $600,000/year!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by the “accidental investor,” Terri-Leigh Huleis. Married with three children, Terri and her husband didn’t have enough money to buy a house…or so they thought. After moving from California to a more affordable market, Terri was able to make her dream of homeownership a reality. Little did she know that this was just the beginning of her real estate journey. It wasn’t long before Terri had turned her passion for interior design into a $600,000/year business—one that has allowed her and her husband to scale in very little time!

After being diagnosed with a brain tumor in 2016, Terri lives every day as if it’s her last. This self-starter’s story is filled with all kinds of helpful nuggets you can use on your own journey—from finding creative ways to fund home renovation projects to setting up an Airbnb in four weeks or less. Stick around until the end to hear about the top amenities you’ll want to add to your short-term rental in 2024!

In This Episode We Cover
How Terri grew an interior design business that pulls in $600,000 per year
Using credit card rewards to fund an ENTIRE home renovation project
How to start a business that allows you to buy even MORE real estate
Landing your first interior design clients (even if you don’t have a portfolio!)
How to design an Airbnb, step by step, in just four weeks or less
The hottest amenities to add to your short-term rental in 2024
And So Much More!

(00:00) Intro
(00:42) Buying Their First House
(09:52) Starting an Interior Design Business
(18:18) Making $600K/Year?!
(26:43) Short-Term Rental Design 101
(35:24) Money-Making Airbnb Tips
(38:12) Connect with Terri!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-412
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

412: Stay-at-Home Mom to “Accidental” Investor with a $600K/Year Business w/Terri-Leigh Huleis

If you’re willing to get your hands dirty, new builds and home renovations can deliver a HUGE return on investment (ROI). Just ask today’s guest! After passing up on a deal that became a cash cow for another investor, he decided to put an end to his analysis paralysis, earn his general contracting license, and get right to work!

Today, we’re joined by a former The Bachelorette contestant, NCAA Division I quarterback, and new investor. Despite many years in the spotlight, Tyler Cameron doesn’t plan to escape the public eye just yet—trading a rose for a hammer in his latest show, Going Home with Tyler Cameron. In today’s episode, he discusses his journey into real estate, which began shortly after inheriting his childhood home. Wanting to honor his late mother, Tyler completed several renovations—making his fair share of mistakes along the way. Even with some tough lessons learned, the property rents for a pretty penny, giving him and his brothers another reliable stream of income.

Tune in to learn why Tyler got started in real estate (and why he almost didn’t), what drew him to new construction, and how he has built a three-million-dollar portfolio in only THREE years. He also offers his best short-term rental tips and shares why so many investors are flocking to his hometown of Jupiter, Florida—a growing market where high appreciation is the norm!

In This Episode We Cover
How Tyler built a three-million-dollar portfolio in just THREE years
Why market uncertainty shouldn’t stop you from investing in real estate
The keys to a successful home renovation project or new build
Why new construction might offer you the BEST return on investment (ROI)
Short-term rental tips for new investors (and why the customer is “always right”)
Why MORE investors are buying rental properties in Jupiter, Florida
And So Much More!

(00:00) Intro
(01:02) Renovating His Childhood Home
(04:47) $3M in 3 Years?!
(09:29) Life in the Spotlight
(13:42) KEY Lessons Learned
(21:57) Short-Term Rental Tips
(25:38) Investing in Jupiter, Florida
(30:28) New Builds vs. Renovations
(32:38) “Going Home with Tyler Cameron”
(36:08) Connect with Tyler!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-411
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

411: ‘The Bachelorette’ Alum Tyler Cameron on Building a $3M Portfolio in 3 Years!

Private money is a “secret weapon” for real estate investing, allowing you to dodge the major banks and fund real estate deals on your terms. But just how easy is it to get this type of funding? The answer might surprise you. You don’t want to miss this masterclass on direct lending!
 
Welcome back to the Real Estate Rookie podcast! Concluding our three-part miniseries on the fundamentals of funding, we’re diving into direct lending with investor and fellow BiggerPockets host Henry Washington. In this episode, he covers the different types of direct lending options that are available to new investors—including private money and hard money—and discusses the many reasons why he uses them to build his own real estate portfolio!
 
Unfortunately, too many investors adopt a scarcity mindset and throw themselves at the mercy of any big bank that might finance their deals. Henry’s about to prove why lenders need YOU more than you might think and teach you how to craft the perfect private lending pitch from that position! He also shows you how to properly vet a lender and shares what you can do today to build relationships with the smaller lenders in your community!

In This Episode We Cover
How to obtain private money and get funding on your terms
Why lenders need YOU just as much (if not more) than you need them
Hard money versus private money (and which type of loan is right for you!)
How to properly vet a lender before giving them your business
How to craft the perfect pitch to a private money lender
The BEST ways to build relationships with smaller, local lenders
And So Much More!

(00:00) Intro
(01:17) What Is Direct Lending?
(05:53) Building Relationships
(11:55) How to Vet a Lender
(20:17) Working with Private Money
(28:14) The Perfect Private Money “Pitch”
(33:59) What If You Can’t Pay?
(40:00) Connect with Henry!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-410
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

410: Fundamentals of Funding: How to Finance Real Estate Without the Big Banks w/Henry Washington

Knowing how to get a mortgage is a crucial step in your journey to buy a rental property. Of course, the money side of things can be intimidating. How do you find a lender? What type of mortgage do you need? When should you get a preapproval? You likely have all sorts of questions…and we have answers!
Welcome back to the Real Estate Rookie podcast! In part two of our fundamentals of funding miniseries, certified mortgage advisor Jeff Welgan joins the show to share his lending expertise and equip rookies with some golden financing tips. In this episode, he debunks some of the most common misconceptions about real estate lending and shares some of the biggest red flags to watch out for in a lender.
But that’s not all. Jeff will show you an EASY way to build an entire portfolio with very little money—a lesser-known strategy that allows you to use down payment assistance programs and first-time home buyer loans to your advantage. Jeff also talks about the biggest differences between conventional and non-conventional loans, what to expect during the underwriting process, and where he expects mortgage rates to be in the not-so-distant future!
In This Episode We Cover:
The EASY way to build your rental portfolio with low money
The mortgage approval timeline and what to expect during the underwriting process
How to get 100% financing (or more!) with down payment assistance programs
The biggest red flags to watch for in a lender (and key questions to ask!)
How to get a first-time home buyer loan (even if it’s NOT your first property!)
The most common misconceptions surrounding real estate lending
Conventional loans versus non-conventional loans (and which one YOU need)
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!
Get Tips, Advice, & Support in the BiggerPockets Forums
Join the Real Estate Rookie Bootcamp
Grab the BiggerPockets Investing Books
Property Manager Finder
Real Estate Rookie 408 – Fundamentals of Funding: How to Find the Right Lender for Your Next Rental w/Joe Coleman
BiggerPockets Real Estate 939 – BiggerNews: 100% Financing for First-Time Home Buyers is HERE
BiggerPockets Real Estate 943 – BiggerNews: Can’t Qualify for Another Mortgage? Try THESE Investor Loans w/Jeff Welgan
Connect with Jeff:
Jeff's BiggerPockets Profile

(00:00) Intro
(01:09) Funding Challenges & Lender Red Flags
(07:00)) Common Financing Misconceptions
(12:10) Kicking Off the Lending Process
(17:26) Getting a Loan with an LLC
(22:50) The Lending Timeline & Credit Pulls
(28:48) Mortgage Underwriting 101
(35:23) Conventional vs. Non-Conventional Loans
(41:30) Where Are Mortgage Rates Headed?
(46:54) Connect with Jeff!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-409
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

406: Inside Our FIRST Commercial Real Estate Deal (A 13-Unit Hotel!) w/Tony & Sara Robinson

Download our free app to listen on your phone