BiggerPockets Real Estate Podcast

BiggerPockets Podcast 210: “My First Deal Changed My Life!” A Newbie Show with Sunny, SunMarie, and Sam

407 Articles Written

Can a single real estate deal change your life? Definitely! That's the topic on today's "newbie episode" of the BiggerPockets Podcast, where we sit down for several interviews with real estate investors who have just purchased their first deal. In the first interview, you’ll hear how Sunny and SunMarie Burns used a fantastic “house hack” to invest in an extremely high-priced area. In the second interview, you’ll hear how Sam Valme was able to house-hack his home into a vacation rental that throws off massive cash flow each month. These stories are incredibly inspiring and full of tips that can help new AND experienced investors achieve more in their business!

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MACK-INV-logo_OverviewA huge thanks as well to our Fire Round sponsor MACK.

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In This Episode We Cover:

Sunny and SunMarie’s Segment:

  • How Sunny got hooked to the podcast
  • Why you should consider buying a fourplex as a first property
  • How to find these deals
  • Thoughts on the competitiveness of the real estate market
  • How to use house hacking to earn extra cash
  • Why you should always look out for holding costs
  • How real estate helped Sunny and his family

Sam’s Segment:

  • How his mom unknowingly gave him a ticket to real estate investing
  • How he turned the basement into a rental unit
  • Tips for making the financing work on a deal like this
  • Why he used an FHA 203K for financing
  • The benefits of using Airbnb to rent your property
  • How to price Airbnb rentals the right way
  • How to use electronic locks and automate the process
  • His worst tenant experience ever
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • "House hack and get your tenants to pay your rent, mortgage, and taxes." (Tweet This!)
  • “Hard work just isn’t enough. You need to figure out the why.” (Tweet This!)
  • “Imagine your perfect day and then, work backwards from there.” (Tweet This!)
  • “It’s better to fail 50 times trying to figure out what you want to do than to sit back for an entire year thinking about it.” (Tweet This!)

Connect with Sunny

Connect with Sam

Show Preview

Real strategies that work for real people seeking to build wealth through real estate investments. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investo...
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    Nina Villarreal Real Estate Investor from Houston, Texas
    Replied over 3 years ago
    In the podcast, she mentioned a someone that did multiple deals before the age of 23. Could you drop his name or which podcast episode he was on? Thank you!!
    Ethan Perry Flipper/Rehabber from Stafford, VA
    Replied over 3 years ago
    Great show, per the usual. Sam is in my area and I’m looking to learn more about AirBnB! Will be reaching out, thanks for all the great content you guys provide!
    Antonio Aparicio from Miami, Florida
    Replied over 3 years ago
    Is Miami a good AirBnB! market? Which areas are the most profitable? Any personal experience in short term rental with AirBnB! in Miami (SFL) area? Any advice? I am planning to enter this arena.
    John Bernabel Investor from Lynn, Massachusetts
    Replied over 3 years ago
    sam definitely inspired me to try Airbnb
    Julie Marquez Investor from Seattle, WA
    Replied over 3 years ago
    I love simple beginners shows like these! Going back to the basics is great for everyone to hear and I just love their fresh approach and ideas. All the best to you guys! Yay for SunMarie getting to be a stay at home mom because of real estate, and yay for Sam for having a successful AirBNB even though it’s not in a typical market – that’s inspiring.
    Cody Will from San Diego, California
    Replied over 3 years ago
    At about 13 minutes into this segment they talk about Wells Fargo first time home buyers and FHA owner occupied getting to make their bids first. However, trying to search this i was just coming up with generic items like FHA owner occupied loan limits. Does anyone know where i can find more information on this? Sorry I just found bigger pockets a couple of days ago and have been listening to all the pod casts with gusto but may not know where i can find stuff on this site yet.
    BRANDY MEADE from Prescott, Arizona
    Replied over 3 years ago
    I don’t know anything specific to Wells Fargo, but I know that there are homes on that are reserved for owner occupied and a few other groups of buyers for a specific amount of time. It’s called the First Look program.
    Kenny Crowe
    Replied over 3 years ago
    Dear Sunny! Love your story how you find the property and go through it. I noticed that you bought 4 families house in Garfield. I also grow up in Garfield and currently live in Hackensack. I just started learning real estate investing myself. If I could buy you a lunch and give me advise. I would really appreciate it.