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I had a lady come in and she found a dead bug right by the front door. But do I argue with this lady over 75 bucks or do I realize that keeping her happy and getting a five star review out of it is exponentially more valuable in the longterm? The guy in that two unit that was in the front house ended up having to be evicted. And I was going to recommend this to everyone listening. That is a great deal and thank you for sharing that with us. Tony, did you have any short term rental questions you wanted to ask him before we move on to our mindset segment? And what you said about the customer, just how you treat your customer is super important. So if you have an issue and you handle it well, you get a glowing review. Like what were some of those assumptions you made that turned out not to be true?
Like I said, I came into this … My mindset has been the same way before real estate.
And I found that finding contractors is absolutely the most stressful and painful part of this business.
And 3 month payday loans direct lenders it had a lot to do with kind of why I lean towards using my guys as much as possible. They are the only projects in 18 projects that have come in over budget our outside of the timeframe.
And the problem is I genuinely like all three of those guys. I hope all three of them hear this podcast and they understand that as people I love all three of them. They are scumbag business people and it is what it is. One of them came in 13 weeks past schedule of a 10 week project. Because as a person I felt like he spent the last 13 weeks doing my project.
I want to take us to our next segment Kevin, which is the Rookie Request Line. So for those of you that are listening, if you guys want to call in and have your question answered by one of our lovely guests like Kevin, give us a call at 888-5-ROOKIE. My apply loan name is Tamika and I am from the New Jersey, Jersey City area. My question is how do you know if a home is good for BRRRR, good for flip, or good for hold?
Typically, what I run into is, I BRRRR, BRRRR, BRRRR, BRRRR, BRRRR, and then when I want to stock my cash reserve back personal loan details up I flip. I am very much a rookie from a financial standpoint. I mean, I live a nice life but I am not even remotely rich. So when I need money back in my account, I got to sell a property or I got to generate that money somehow. So for you buy and hold is the way to go so that you have that mailbox money coming in. Kevin, we see you all over the Real Estate Rookie Facebook group. I want to know what is the most asked question by rookies and what would be the answer to that question, your advice for our listeners?
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And this thing behind me 100 day loans bbb … And my parents go a long way to that. And you take the things that worked in that relationship and you apply them to the next one.
And that to me is more important than anything, that you learn from the things that go wrong and just keep pivoting and pivoting. I run into things now in these flips and BRRRRs that would have absolutely broke me when I started. I mean, I literally just solve the problem before I even think about it. Because the purpose of the first deal is what you just said which is to educate yourself. Now, for the short term rentals I use a program called Smartbnb, which does some automated messaging for your cleaners and it really, really automates the short term rental side. So if people are doing that business, I highly recommend looking at Smartbnb. But from the real estate stuff in general, I pretty much just manage it via email and my cellphone. Ashley:Kevin, thank you so much for all of the valuable information today and also thank you for your service too. But please tell everyone where they can find out some more information and where they can contact you. Kevin:Diyrealesateinvesting on Instagram, which I am terrible about.
Ashley:Kevin, I just want to say, you really provided a lot of great value today.
Well, thank you so much for joining us and a lot of the things that Kevin mentioned, we will put into the show notes at biggerpockets.
And the lending company of course make sure you join our Facebook group, Real Estate Rookie and you will see Tony and I in there and also Kevin. Ashley:Well, thank you everyone for listening today.
And make sure you guys listen to our newest episode on Saturday. RentRedi is all about helping new landlords manage their business and be happy customers.
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Andres Bustamante did just that, becoming a leasing agent so he could cover his housing and tuition costs. Andres reached out to a guest on the show, who later became his mentor and asked Andres to join his team! In his first year of full-time real estate Andres managed to sell 15 houses, with 15 more under contract as we speak. He lives in a house hack, has another house hack under contract, and bought an AirBnB as a short-term rental. Instead, Andres found new construction projects going up, put down earnest money for them, and locked in the deal.
He talks about what he provides, what he puts in his leases, how he decides on tenants, and more helpful tips for any aspiring house-hacker! And now I legit-check this yesterday, the same home is selling for 398,000.
Now, every show that has a niner in it is going- Ashley:… to be a nice little joke between us and the listeners who are with us for that episode. Ashley:Besides Tommy Boy, our favorite show, we have Andres on today, who awesome content about new builds I had looked over the show notes and I saw house hacking, a bunch of other stuff, but the way he goes in depth about actually using new builds and the strategy for that is really exciting and makes me want to go after that new, shiny builder. You guys definitely have to listen and pay close attention. He talks a lot about mindset too, which I think is going to be hugely helpful for the listeners also.
Ashley:Yeah, we could have done a whole nother episode just on mindset. We have doing the mindset stuff and we do a nice little personal loan details funeral for a segment that will be leading us. And then we have a very special surprise for you guys coming up in the next couple of days. Make sure you listen to the very end and we will tell you when that will be announced.
But before we do, share with us a little bit about you, man, what got you into real estate and what brought you here today to chat with us? And tell you the truth, I was an undeclared business major, but I thought I wanted to do supply chain. At personal loan details the same year, freshman year, I got my real estate license just out of luck. And with leasing, I was able to become financially independent from my parents, was able to pay my housing expenses and my college tuition, which was amazing. Fast forward, I graduated with a degree in international business and real estate. The summer of 2019 was really like a, "What am I going to be doing?
Am I going to be doing full-time real estate, in which is commission-based, or am I going to do commercial real estate, which was what I initially wanted to do, which is an 8:00 to 5:00 job?
I decided to trust my gut and do three months, four months of full-time real estate. We meet up and eventually I get on his team in January of 2020.
The part I love the most is that you started out as a leasing agent because I always push for people to get into real estate somehow to learn how to do it. What would be your advice to someone about getting into a position like that, leasing agent, property management?
How did you get that job with having no other real estate experience? It was crazy, just sending the systems through my freshmen and sophomore year to get clients, referrals.
As a leasing agent, you get to take clients, say, for example, I have some clients, they give me their needs, I ask a lot of questions. All of my friends group were my clients, everyone needed a place to live. Junior and senior year, through the money I made, I was able to pay for college and housing. I swear, I credit check free did not know anything about sales, but I just dove into it. I learned a lot of other things through that experience. But just really quickly, give us an overview of where your portfolio is today. I know Ashley also started her route through getting into property management and whatnot. I also really knew the due diligence online loans same day and the security deposit, the app fee, what those go into, the admin fees. Maybe you need to live in this area because a family member lives there, as opposed to, "Oh, I want to live here because I like this area. I feel like it really started when I started joining masterminds with Felipe and Diego. He does a lot of house hacks and talks a lot about that. I need to do the contract and send it over tonight. We went to the conference room and we went over the contract. And with that, long story short, the 1099, I was able to do a non-occupant co-borrower loan with same day money loans my mother. I put the money in and I qualified as a primary residence through that. Because to take this back a bit as a 1099, you need two years of experience. The loan officers need to see that you have that income.
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