{"id":58740,"date":"2014-06-12T00:05:22","date_gmt":"2014-06-12T06:05:22","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=58740"},"modified":"2023-04-11T05:06:09","modified_gmt":"2023-04-11T11:06:09","slug":"2014-06-12-bp-074-buying-first-investment-property-newbie","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/2014-06-12-bp-074-buying-first-investment-property-newbie","title":{"rendered":"Buying My First Investment Property- A Newbie Podcast with Jordan, Jacob and Jeromie"},"content":{"rendered":"<p>On today&#8217;s episode of the BiggerPockets Podcast &#8211; we&#8217;re going to change things up-\u00a0<em>again!<\/em><\/p>\n<p>This is our official 2nd newbie\u00a0podcast and it&#8217;s probably our most fun\u00a0show yet. Just like the last newbie podcast\u00a0back on <a title=\"BP Podcast 025: Four Newbies and Their Very First Real Estate Success Stories\" href=\"\/renewsblog\/2013\/07\/04\/real-estate-beginner-newbie-podcast\/\" target=\"_blank\">episode 25<\/a>, all of our guest today are investors\u00a0who are just starting out and who have recently finished their first deal.<\/p>\n<p>These stories are not only helpful for new investors, but even the pros can learn valuable lessons from their experiences!\u00a0Each of these investors also are working full time jobs, which is something a lot of our listener&#8217;s struggle with. Additionally, we cover everything from\u00a0<strong>investing when you live in an expensive city<\/strong>\u00a0to <strong>the\u00a0importance of confidence\u00a0<\/strong><strong>when everyone thinks your crazy<\/strong>\u00a0and we even get to<strong> talk to a real-life rocket scientist who&#8217;s smart enough to hack his mortgage!<\/strong> \u00a0You really don&#8217;t want to miss this one!<\/p>\n<h2>Read the Transcript<\/h2>\n<p><a href=\"https:\/\/www.biggerpockets.com\/bpp74-jordan-jacob-jeromie-podcast-transcript-buying-first-investment-property\" target=\"_blank\">Click here<\/a> to read the transcript.<\/p>\n<h2>Listen to The Show on iTunes<\/h2>\n<p><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/biggerpockets-podcast-real\/id594419649\" target=\"_blank\" rel=\"noopener\">Click here<\/a>\u00a0to listen on iTunes.<\/p>\n<h2>Listen to the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC7368674572\" width=\"100%\" height=\"200\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h2><span style=\"color: #141823;\">Jordan\u00a0Thibodeau<\/span>: The Importance of Adding Value as a Buy-and-Hold Investor<\/h2>\n<ul>\n<li>How BiggerPockets helped him get started<img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-58759\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2014\/06\/unnamed-150x150.jpg\" alt=\"unnamed\" width=\"150\" height=\"150\" title=\"\"><\/li>\n<li>Advice\u00a0for newbies looking to find surrounding markets that work while living in expensive areas<\/li>\n<li>Learning the importance of setting clearly defined investment criteria<\/li>\n<li>What to look for in a good agent<\/li>\n<li>Tips\u00a0for creating a game plan<\/li>\n<li>The importance of adding value to your property<\/li>\n<li>Why Jordan decided to NOT use a property manager<\/li>\n<li>Learn from Jordan&#8217;s mistakes<\/li>\n<li>The importance of creating systems<\/li>\n<li>And MUCH more.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.biggerpockets.com\/users\/Jordanthibodeau\" target=\"_blank\" rel=\"noopener noreferrer\">Connect with Jordan\u00a0on BiggerPockets!<\/a><\/p>\n<h2>Jacob Allen: Flipping with Confidence and Taking Action<\/h2>\n<ul>\n<li>Discriminate against a tenant who works on a marijuana farm<img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-58760\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2014\/06\/Screen-Shot-2014-06-11-at-1.26.20-PM.png\" alt=\"Screen Shot 2014-06-11 at 1.26.20 PM\" width=\"141\" height=\"141\" title=\"\"><\/li>\n<li>Adding a clause in the contract to save you money<\/li>\n<li>The process of a full gut-rehab as a newbie &#8211; while working a full time job<\/li>\n<li>How to vet a contractor on a budget<\/li>\n<li>The importance \u00a0of insurance in the face of vandalism<\/li>\n<li>Using a home equity line of credit for deals<\/li>\n<li>The importance of showing up on the construction site<\/li>\n<li>And MUCH more!<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.biggerpockets.com\/users\/jgallen0202\" target=\"_blank\" rel=\"noopener noreferrer\">Connect with Jacob\u00a0on BiggerPockets!<\/a><\/p>\n<h2>Jeromie\u00a0Hamann: Mortgage Hacker<\/h2>\n<ul>\n<li>How to find properties in a hot market\u00a0<img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-58761\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2014\/06\/DSC09215-150x150.jpg\" alt=\"DSC09215\" width=\"150\" height=\"150\" title=\"\"><\/li>\n<li>Why being a &#8220;live in landlord&#8221; can save you a lot of cash<\/li>\n<li>What it&#8217;s like living next to your tenants<\/li>\n<li>The need to sacrifice to become successful<\/li>\n<li>Pre-paying your PMI<\/li>\n<li>How to find a great mortgage for conventional financing<\/li>\n<li>How to prepare for disasters<\/li>\n<li>Travel hacking (Treveling for free!)<\/li>\n<li>And MUCH more!<\/li>\n<\/ul>\n<p><a href=\"http:\/\/beta.biggerpockets.com\/users\/jhan83\" target=\"_blank\" rel=\"noopener noreferrer\">Connect with Jeromie\u00a0on BiggerPockets!<\/a><\/p>\n<p>Jeromie&#8217;s Website,\u00a0<a href=\"http:\/\/freetravelinyourtwenties.com\/the-introductory-guide-to-travel-hacking-for-real-estate-investors\/\" target=\"_blank\" rel=\"noopener noreferrer\">FreeTravelInYourTwenties.com<\/a><\/p>\n<h2>Links from the Show:<\/h2>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=lGXHVlEklgQ\" target=\"_blank\" rel=\"noopener noreferrer\">The New Dumb and Dumber Trailer<img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-43638\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2013\/05\/BiggerPockets-Podcast-_-Real-Estate-Investing-and-Wealth-Building-9.42.11-AM1-150x150.jpg\" alt=\"BiggerPockets Podcast _ Real Estate Investing and Wealth Building 9.42.11 AM\" width=\"150\" height=\"150\" title=\"\"><\/a><br \/>\n<a href=\"https:\/\/nextdoor.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Nextdoor.com<\/a><br \/>\n<a href=\"https:\/\/asana.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Asana.com<br \/>\n<\/a><a href=\"\/renewsblog\/2013\/11\/02\/hack-housing-get-paid-live-free\/\" target=\"_blank\" rel=\"noopener noreferrer\">How to &#8220;Hack&#8221; Your Housing and Get Paid to Live for Free<\/a><\/p>\n<h2>Books Mentioned in the Show<\/h2>\n<p><a href=\"http:\/\/amzn.to\/2aCWiYW\" target=\"_blank\" rel=\"noopener noreferrer\">HOLD: How to Find, Buy, and Rent Houses for Wealth<\/a> by\u00a0Steve Chader<br \/>\n<a href=\"http:\/\/amzn.to\/2a95kL5\" target=\"_blank\" rel=\"noopener noreferrer\">Fooled By Randomness<\/a> by\u00a0<span style=\"color: #000000;\">Nassim Nicholas Taleb<br \/>\n<\/span><a href=\"http:\/\/amzn.to\/2a9oIeb\" target=\"_blank\" rel=\"noopener noreferrer\">Rich Dad Poor Dad<\/a> by\u00a0<span style=\"color: #000000;\">Robert T. Kiyosaki<br \/>\n<a href=\"http:\/\/amzn.to\/2a4d2dA\" target=\"_blank\" rel=\"noopener noreferrer\">Drive<\/a> by\u00a0Daniel H. Pink<\/span><\/p>\n<blockquote><p>&nbsp;<\/p><\/blockquote>\n<p><strong>Be sure to leave questions, comments, or messages of encouragement below in the comments!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On today&#8217;s episode of the BiggerPockets Podcast &#8211; we&#8217;re going to change things up-\u00a0again! This is our official 2nd newbie\u00a0podcast and it&#8217;s probably our most fun\u00a0show yet. Just like the [&hellip;]<\/p>\n","protected":false},"author":17340,"featured_media":119593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4565],"tags":[],"class_list":["post-58740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-podcast"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/58740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/17340"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=58740"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/58740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/119593"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=58740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=58740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=58740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}