Today on the BiggerPockets Podcast we’re excited to bring you another “newbie podcast” with 3 new real estate investors who are excited to share with you the story of their very first real estate deal! This episode we are talking with three investors who share a common trait: they all have a deep understanding of personal finance and it’s role in the real estate investing space and write about it online!
Today you’ll hear from Scott Trench, Lauren Bowling, and Philip Taylor as they share how they found their first deal, financed it, manage it, and more. We cover everything from house hacking to creative finance, dealing with fear, and numerous other topics so, without further suspense, let’s get to the show!
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We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
Learn more by visiting RealtyShares.com/biggerpockets!
In This Show We Cover:
- How to find deals in a hot market
- Finding and working with a great agent
- Down payments: how much is really needed?
- Three different “house hacking” methods (one from each guest!)
- Using government programs to finance properties
- Wrapping repairs into the loan and creating immediate equity
- The one rule you need when renting to family or friends
- How to thrive when your home is worth less than you paid for it
- Doing your own work vs. hiring it out
- How to cash flow your property and save on taxes at the same time
- The #1 personal finance tip from each guest
- Plus MUCH more!
Links From The Show:
Books Mentioned in the Show
- Four Hour Workweek by Timothy Ferriss
- Rich Dad Poor Dad by Robert Kiyosaki
- The Richest Man in Babylon by George S. Clason
- The Millionaire Next Door by Thomas J. Stanley
- The Millionaire Real Estate Investor by Gary Keller
- Brandon Turner’s The Book on Investing in Real Estate with No (and Low) Money Down
- BiggerPockets’ Ultimate Beginner’s Guide to Real Estate Investing
- Overwhelmed: Work, Love, and Play When No One Has the Time by Brigid Schulte
- The Skinny on Real Estate Investing: An Introduction to the Subject by Jim Randel
- The E-Myth : Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber
- The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime by MJ DeMarco