{"id":86302,"date":"2021-05-13T09:30:00","date_gmt":"2021-05-13T15:30:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=86302"},"modified":"2023-03-29T02:44:13","modified_gmt":"2023-03-29T08:44:13","slug":"speculate-vs-invest","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/speculate-vs-invest","title":{"rendered":"Are You Investing or Speculating? Here&#8217;s the Crucial Difference"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC4161673639&#038;light=false\" width=\"100%\"><\/iframe>  \n\n\n\n\n<p>Ever heard of the 17th-century Dutch tulip bubble? Tulips had been introduced to Holland from Turkey in the late 1500s. The Dutch people loved them, and within a few decades, their love turned to obsession. Throwing aside all reason, people began \u201cinvesting\u201d in tulips like there was no tomorrow. Or were they speculating? And what&#8217;s the difference between speculating vs. investing?<\/p>\n\n\n\n<p>At the height of the market, tulip bulbs sold for as much as six years of an average worker\u2019s annual income. Tulips were trading for the same price as 12 acres of land, and in some cases, for the price of a small estate. Yes, we\u2019re talking about <em>one<\/em> <em>tulip.<\/em><\/p>\n\n\n\n<p>Of course, it all came tumbling down, and the price of tulips eventually returned to the price of a common onion. Thousands of \u201cinvestors\u201d lost their homes, their fortunes, and their self-respect.<\/p>\n\n\n\n<p>So what does this have to do with real estate investing?<\/p>\n\n\n\n<p>Everything.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Are you investing or speculating?<\/h2>\n\n\n\n<p><\/p>\n\n\n\n<p>The tulip \u201cinvestors\u201d failed because they confused their speculating with real investing.<\/p>\n\n\n\n<p>Some of the world\u2019s most successful investors use a theory called \u201c<a href=\"http:\/\/www.investopedia.com\/terms\/v\/valueinvesting.asp\" target=\"_blank\" rel=\"noopener\">value investing<\/a>.\u201d Value investing was conceived by Benjamin Graham and David Dodd in their 1934 book <a href=\"https:\/\/www.amazon.com\/gp\/product\/0071592539\/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0071592539&amp;linkCode=as2&amp;tag=biggerpocke0a-20&amp;linkId=2db4b382b44e10323b4c8e31efdc134a\" target=\"_blank\" rel=\"noopener\"><em>Security Analysis<\/em><\/a>. Though focused on stocks, their theories apply to all types of assets.<\/p>\n\n\n\n<p>The authors make the distinction between investors and speculators. Graham and Dodd said, \u201cAn investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.\u201d<\/p>\n\n\n\n<p>To boil it down:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If you\u2019ve done a thorough evaluation and you\u2019re reasonably sure your principal is safe\u2014and you have a chance to make a profit\u2014you are investing.<\/li>\n\n\n\n<li>If you are \u201cinvesting\u201d in an asset that has uncertain protection of principal\u2014and you have a chance to make a profit\u2014you are speculating.<\/li>\n<\/ul>\n\n\n\n<p>Is it okay to speculate? Of course, as long as it\u2019s clear in your mind that you\u2019re doing so. Plenty of people have made millions of dollars investing in little startup companies like Apple, Microsoft, and Airbnb. But the overwhelming majority of speculators lose their money, their time, their energy, and sometimes their relationships and health.<\/p>\n\n\n\n<p>Unlike many asset classes, real estate provides an opportunity to invest rather than speculate.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Chosen wisely, real estate provides a safeguard on principal.<\/li>\n\n\n\n<li>In many cases, real estate has a high likelihood of producing an ongoing profit.<\/li>\n\n\n\n<li>In carefully chosen locations, real estate is likely to appreciate in value.<\/li>\n<\/ul>\n\n\n\n<p>With real estate investing, investors have been able to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Make up to $100,000 per piece flipping overgrown waterfront lots before the crash.<\/li>\n\n\n\n<li>Average over $20,000 per flip on over 60 houses.<\/li>\n\n\n\n<li>Develop a subdivision and make a 55% profit.<\/li>\n\n\n\n<li>Provide stable ROIs to many investors by sponsoring projects.<\/li>\n\n\n\n<li><\/li>\n<\/ul>\n\n\n\n<p>It\u2019s true that real estate provides the opportunity to invest if you do it the right way. But there are also uncertainties in real estate that cause you to speculate\u2014with the possibility of profit.<\/p>\n\n\n\n<p>How is speculation in real estate possible? Here are four ways.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Market selection<\/h2>\n\n\n\n<p>Poor market selection can be a form of speculating. I recall getting a \u201cscreaming deal\u201d on a house in Ridgeway, Virginia, in 2001. Not only was it rural, but the recently departed textile industry left them with an unemployment rate of about 22%.<\/p>\n\n\n\n<p>Needless to say, I didn\u2019t make a killing on that deal. But even so, I survived, got almost all my principal back, and lived to see another day. Many tech speculators only dream of getting out that well.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Asset selection<\/h2>\n\n\n\n<p>You can overpay or overspend on upgrades for a property. You can buy an asset with structural problems. You can fall in love with the style of a home and overestimate its resale value. All of these are forms of speculation.<\/p>\n\n\n\n<p>It might look like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Overspending on upgrades for a home you\u2019re flipping. The rehab budget was $80,000, but after finishing the basement and more, you spent over $100,000. The damage: Making $16,000 profit rather than the $40,000 or so you had hoped for.<\/li>\n\n\n\n<li>Buying a home with hidden structural problems. By foregoing a pre-purchase inspection and closing quickly to get a better deal, you might not notice the needed basement wall repairs that will cost you $10,000 or $12,000. The damage: Still making over $20,000 in profit.<\/li>\n\n\n\n<li>Falling in love with a charming Cape Cod house in need of significant upgrades. By not knowing the area well, you might not realize the resale price will be far less than you had hoped for. The damage: Losing about $3,000 on it.<\/li>\n<\/ul>\n\n\n\n<p>Do you see the trend here? Even when speculating in real estate, the underlying value of the asset sometimes mitigates losses. These three speculative mistakes still add up to more than $30,000 in total profit.<\/p>\n\n\n\n<p>Speculating in stocks, precious metals, or startups rarely fares so well.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Timing<\/h2>\n\n\n\n<p>You can speculate on timing. All real estate is local. So it\u2019s not necessarily accurate to say, \u201cThe real estate market is in a bubble.\u201d Instead, one might say, \u201cThe San Francisco market is in a bubble.\u201d It is possible to speculate by buying too high in the wrong market.<\/p>\n\n\n\n<p>My friend Mike made his first foray into rental real estate after college in the late \u201980s. He and his three friends went in on a Bay Area house that had doubled (or tripled?) in price over the previous years. Five bedrooms for $500,000 sounds cheap for San Fran today; however, that was pricey three decades ago. But they felt secure in knowing how fast prices were climbing.<\/p>\n\n\n\n<p>Then the bottom dropped out.<\/p>\n\n\n\n<p>My friend and his partners lost their money and their home.<\/p>\n\n\n\n<p>I bought my first home in metro Detroit about that same time for $50,000 and sold it a few years later for $55,000. I was happy with my 10%, especially after hearing Mike\u2019s story.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. Speculative development<\/h2>\n\n\n\n<p>Real estate developers are among the wealthiest folks on the planet. Or perhaps, some of the wealthiest folks on the planet are real estate developers. Some of the brokest are, too. (Is that a word? It should be.)<\/p>\n\n\n\n<p>While many developers are uber-successful, there are probably many more who have gone broke and moved on to higher-paying jobs now, like delivering pizza. And many developers who succeeded wildly in one market cycle lost all that and more in the next.<\/p>\n\n\n\n<p>Do you want to be a developer? Go for it. I\u2019ll cheer you on. But realize that the stakes are very high, and you\u2019ve left the safety zone of many other real estate investments. You\u2019ve definitely entered the speculation zone. (It\u2019s like the Twilight Zone, but it\u2019s even scarier.)<\/p>\n\n\n\n<p>You may protest\u2014you&#8217;d planned to make a 55% profit on your subdivision!<\/p>\n\n\n\n<p>Yes, that\u2019s true. But you didn\u2019t really calculate the significant risk you were bearing that could land you in bankruptcy court.<\/p>\n\n\n\n<p>Sometimes you only see your path clearly in the rearview mirror.<\/p>\n\n\n\n<p>The tulip \u201cinvestors\u201d were convinced they had it made. Their tulip bulbs were holding the weight of their homes, finances, and relationships \u2014until they became comparable to an onion.<\/p>\n\n\n\n<p>What tulips are you chasing?<\/p>\n\n\n\n<p>Speculating isn\u2019t all bad, as is shown in real estate, but it\u2019s never a guarantee. With investing, you at least know that your profits won\u2019t be the price of an onion.<\/p>\n\n\n\n  <div id=\"posts_lists-block_608889e23a62c\" class=\"  my-10\">\n    <div class=\"\">\n      <!-- Column One -->\n      <div>\n                  <h2 class=\"mt-0 mb-1 js-toc-ignore\">\n            More beginner&#8217;s advice          <\/h2>  \n                  \n                  <div class=\"mt-1 mb-0 text-sm mb-2 excerpt\">\n            Begin your real estate investing journey with more newbie tips from BiggerPockets.          <\/div>\n        \n                  <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-investing-for-beginners\" class=\"no-underline text-themeBlue-medium hover:underline uppercase font-semibold text-sm\" target=\"_blank\">Investing For Beginners<\/a>\n        \n        <div class=\"grid grid-cols-1 gap-y-4 lg:gap-y-7 mt-5\">\n          \n<article \n\tid=\"post-187415\" \n\tclass=\"content-card mb-0 flex flex-col  post-187415 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-investing-for-beginners\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/passive-investing-vs-diy-rentals\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/07\/managing-rental_canva-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"Passive Investing vs. DIY Rentals: Which Path Builds Wealth Faster for Busy Professionals?\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-investing-for-beginners\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Investing For Beginners<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">7 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/bp-wp-migration.s3.amazonaws.com\/author_avatars\/158586.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2026-04-03T07:53:56-06:00\">Apr 03, 2026<\/time><time class=\"updated\" datetime=\"2026-04-03T07:54:38-06:00\">Apr 03, 2026<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/g-briandavis\" class=\"no-underline line-clamp-1\" target=\"_blank\">G. Brian Davis<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/passive-investing-vs-diy-rentals\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tPassive Investing vs. DIY Rentals: Which Path Builds Wealth Faster for Busy Professionals?\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">I\u2019ve invested both actively and passively in real estate. I owned 15 rental properties by myself and another dozen with partners. Today, I own smaller percentages in around 5,000 units.\u00a0&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"187415\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-187415 -->\n<article \n\tid=\"post-185796\" \n\tclass=\"content-card mb-0 flex flex-col  post-185796 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-investing-for-beginners\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/the-step-by-step-blueprint-to-financial-freedom-with-turnkey-rentals\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/08\/homes_canva-8-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"The Step-by-Step Blueprint to Financial Freedom With Turnkey Rentals\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-investing-for-beginners\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Investing For Beginners<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">6 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/08\/cropped-garrettbrown-150x150.jpeg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2025-11-24T12:54:24-07:00\">Nov 24, 2025<\/time><time class=\"updated\" datetime=\"2025-11-24T12:54:27-07:00\">Nov 24, 2025<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/garrettbrown\" class=\"no-underline line-clamp-1\" target=\"_blank\">Garrett Brown<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/the-step-by-step-blueprint-to-financial-freedom-with-turnkey-rentals\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tThe Step-by-Step Blueprint to Financial Freedom With Turnkey Rentals\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">This article is presented by Rent To Retirement. Have you ever sat at your desk, glanced at your pay stub, and wondered how you\u2019ll ever build real wealth?&nbsp; You\u2019re not&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"185796\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-185796 -->\n<article \n\tid=\"post-184195\" \n\tclass=\"content-card mb-0 flex flex-col  post-184195 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-investing-for-beginners\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/the-real-estate-roi-blueprint-from-your-first-deal-to-financial-freedom\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/06\/underwritign_canva-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"The Real Estate ROI Blueprint: From Your First Deal to Financial Freedom\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-investing-for-beginners\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Investing For Beginners<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">4 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2025\/08\/cropped-Leka-Headshot-150x150.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2025-08-06T14:17:15-06:00\">Aug 06, 2025<\/time><time class=\"updated\" datetime=\"2025-08-06T14:17:51-06:00\">Aug 06, 2025<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/lekadevatha\" class=\"no-underline line-clamp-1\" target=\"_blank\">Leka Devatha<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/the-real-estate-roi-blueprint-from-your-first-deal-to-financial-freedom\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tThe Real Estate ROI Blueprint: From Your First Deal to Financial Freedom\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">I still remember the chaos and caffeine-fueled nights of my very first deal\u2014a studs-out fix-and-flip that nearly broke me before it paid me. The house had no kitchen, no bathrooms,&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"184195\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-184195 -->\n<article \n\tid=\"post-183537\" \n\tclass=\"content-card mb-0 flex flex-col  post-183537 post type-post status-publish format-standard has-post-thumbnail hentry category-real-estate-investing-for-beginners\">\n\n\t<header class=\"entry-header\">\t\t\t\n\t\t<!-- Image -->\n        \t\t\t<a class=\"post-thumbnail\" href=\"https:\/\/www.biggerpockets.com\/blog\/the-real-estate-rookie-implementation-guide-how-to-restart-your-portfolio-with-small-multifamily-properties\" target=\"_blank\" aria-hidden=\"true\" tabindex=\"-1\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"340\" height=\"225\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/12\/duplex_canva-1-340x225.jpg\" class=\"size-card w-full  m-0 aspect-[68\/45] object-scale-down wp-post-image\" alt=\"The Real Estate Rookie Implementation Guide: How to Restart Your Portfolio with Small Multifamily Properties\" title=\"\">\t\t\t<\/a>\n\t\t        \n\n\t\t<!-- Content Wrapper -->\n\t\t<div class=\"py-4 \">\t\n                            <div class=\"flex gap-4 justify-between items-center\">\n                    <!-- Category  -->\n                                            <a href=\"https:\/\/www.biggerpockets.com\/blog\/category\/real-estate-investing-for-beginners\" class=\"transition-colors bg-themeBlue\/20 text-themeBlue-medium hover:bg-themeBlue hover:text-white px-2 py-1 mb-2 inline-block rounded-sm no-underline text-sm\" target=\"_blank\">Investing For Beginners<\/a>\n                    \n                                            <span class=\"text-sm text-gray-500 hidden lg:inline-block\">2 min read<\/span>\n                                    <\/div>\n            \n           <div class=\"flex gap-3 items-center my-2 flex-nowrap text-base\">\n                <!-- Avatar and Author Name -->\n                <img decoding=\"async\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/04\/cropped-Tony02-1-scaled-1-150x150.jpg\" class=\"w-8 h-8 object-cover my-0 inline-block rounded-full\" alt=\"\" title=\"\"><span class='leading-snug text-slate-500 flex items-center'><span class='hidden whitespace-nowrap sm:inline-block md:hidden lg:inline-block pr-1'><span class='posted-on'><time class=\"entry-date published\" datetime=\"2025-06-27T12:53:02-06:00\">Jun 27, 2025<\/time><time class=\"updated\" datetime=\"2025-06-27T13:03:09-06:00\">Jun 27, 2025<\/time><\/span><\/span>&nbsp;<a href=\"https:\/\/www.biggerpockets.com\/blog\/contributors\/tonyrobinson\" class=\"no-underline line-clamp-1\" target=\"_blank\">Tony Robinson<\/a><\/span>            <\/div>\n\n            <!-- Post title -->\n\t\t\t<h2 class=\"entry-title js-toc-ignore mt-4 mb-0 text-xl leading-snug text-left\">\n\t\t\t\t<a href=\"https:\/\/www.biggerpockets.com\/blog\/the-real-estate-rookie-implementation-guide-how-to-restart-your-portfolio-with-small-multifamily-properties\" rel=\"bookmark\" class=\"whitespace-normal no-underline font-bold  text-slate visited:text-slate hover:text-themeBlue\" target=\"_blank\">\n\t\t\t\t\tThe Real Estate Rookie Implementation Guide: How to Restart Your Portfolio with Small Multifamily Properties\t\t\t\t<\/a>\n\t\t\t<\/h2>\n\t\t\t\n                        <p class=\"text-lg font-normal mt-3 text-slate-500 mb-1 line-clamp-3\">This implementation guide is based on episode 555 of the Real Estate Rookie Podcast, where Ashley shared exactly how she would start building a real estate portfolio from scratch today&hellip;<\/p>\n\t\t<\/div>\n\t<\/header>\n     <footer class=\"flex justify-between mt-auto\">\n        <!-- Comment Count -->\n        \t\t<span class='flex items-center space-x-2 text-sm' x-cloak x-data='commentCount()' :class=\"parseFloat(commentCount) < 1 || commentCount == '' ? 'hidden' : 'flex'\">\n\t\t\n            <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-5 w-5 text-slate text-opacity-50\" fill=\"none\" viewBox=\"0 0 24 24\" stroke=\"currentColor\">\n                <path stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M17 8h2a2 2 0 012 2v6a2 2 0 01-2 2h-2v4l-4-4H9a1.994 1.994 0 01-1.414-.586m0 0L11 14h4a2 2 0 002-2V6a2 2 0 00-2-2H5a2 2 0 00-2 2v6a2 2 0 002 2h2v4l.586-.586z\" \/>\n            <\/svg>\n\n            <span x-ref=\"comment_count\" class=\"disqus-comment-count text-slate text-opacity-80\" data-disqus-identifier=\"183537\">\n\t\t\t\t\t\t\t<\/span>\n        <\/span>\n\t    <\/footer>\n<\/article><!-- #post-183537 -->        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  ","protected":false},"excerpt":{"rendered":"<p>Speculating isn\u2019t all bad, but it\u2019s never a guarantee. When you invest intelligently, you can protect yourself against risk.<\/p>\n","protected":false},"author":214608,"featured_media":137973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7119,5524],"tags":[4140,2526,7229,7230],"class_list":["post-86302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-daily","category-real-estate-investing-for-beginners","tag-investing-strategies","tag-personal-finance","tag-real-estate-investing-basics","tag-rookie-comm"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/86302","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\/214608"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=86302"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/86302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/137973"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=86302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=86302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=86302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}