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Just explain that to everyone, how you came to that 12,000 that you made for that year. So I bought the property for 90,000, in 2014, September.
And then I lived there for two years and then I online loans direct lender rent it out. So the cashflow, when I rented out, it was 150 because I have to pay for HOA fees. So my 12,000 came from then paying all my mortgage at that time. So at the end when I sold that property, I sold it for the same price that I bought it. But then when I pay my realtor best rate for personal loan and e loans all the closing costs, I got a check for 12,000. So you purchased the property, you lived there for free for a while.
But manipulate real estate to make it to your advantage or to that appreciation play.
There was no appreciation, but somehow you still got it because your tenants are paying down the mortgage and you get that equity built into the property. I love that was how the different ways that you benefited off of that property. Living free, the cash flow, and then the equity pay down, getting that check when you sold it for the same price you bought it for. Ashley:This is where we want to hear about the most valuable player on your team. The most valuable person that has really helped you grow your real estate portfolio. And I will say on my team, I will say Melissa, my realtor. She is also my friend and actually my tennis client too, but mostly my friend. She sells half a million properties here in Connecticut. So the first question payday loan in 15 minutes that comes to mind is, how do you find a rockstar realtor as a new investor? Not necessarily ask for people that have a property, like a primary residence, but people that have investing. So I will say ask for referrals and go to BP and just find realtors there. I heard a few people saying that you go to Zillow and whoever has the most stars is the wrong person to call. Number one, because these people pretty much pay for that advertising and they nag their clients to get stars and all that. So I will say, look for the person that payday loan in 15 minutes really hungry and really wants to work with you. And if you guys are looking for an agent and need some help finding one in your area, BiggerPockets has a great resource for that, biggerpockets. Andres:I want to also reflecting payday loan in 15 minutes off what I was thinking on the podcast to every new investor, every rookie here that did not get into the trap of these gurus, because I did. I had a mentor for a weekend and she was focused more on the marketing side.
And I went to a seminar in Virginia and it was information that is out there. So I will highly recommend to people do not get into that trap because even if you bad a bad deal- Ashley:I want to know how you got into that trap?
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So tell us, how did you fall into that trap and what happened next? Even if you buy a bad deal for 22,000, you get more education in those seminars. I think it was something that came into my Instagram or Facebook about free webinar. And then if you come to the three day at the end, they sell you that package. And literally, nobody has washed my brain until I met them. So maybe later on in life, if you want a personal coach or somebody like that, then yes. So I would just highly recommend to the best education you can get are books and podcasts. I read a lot of books, so I will highly recommend to just read books and listen to podcasts. I think a lot of people have gone down that path and been not super satisfied with the results. There was a book called The Millionaire Fastlane by M. Their business is about coaching other people and teaching other people how to do the work.
So if you look at some of these gurus, they make way more money selling courses on how to do it than they payday loan in 15 minutes ever made actually doing the thing. I found out that the person who was leading the course say she was an investor and all that. The title guru, people throw that around a lot, man. And for those of you that want to maybe get your question featured on the show, just give us a call at eight, eight, eight, five, rookie to leave a voicemail and we might use it on the next show.
And what should I do to prepare for that, what books to read? Just anything that would help me see where I want to go with this.
I will say I will start reading, How to Invest in Real Estate. I will say, try to get all the books like Landlording. So I think I will start there reading that book too. I would also say just maybe try and find a way to start doing something real estate related. Can you go work for some general contractor and sweep up the job? Is there something that you can do in your free time to get you closer to the action of real estate? But one thing that you can do is realtors are going to go everywhere. Because I think every new investor should create their plan. And now I have a small group where I can educate other people. What do you charge him by the room to live in a house? And then when you move out, maybe you stay in the area or you go somewhere else. But then you just continue to keep it as a student rental. But if you live there for one year, you can get the FHA.
Going back to the question that person asked, if I were that person I would definitely… Just like you said Ashley. I will definitely buy with the FHA loan, a house, a single family, which tends to be cheaper than a duplex or triplex.
Andres:And easy to find and easier to sell, easier to manage.
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We have one more segment for you and it is our random questions. The first question I want to ask is, what is a quote or some kind of saying that really sums up your approach to real estate? I think as a professional athlete, you do the same thing over and over and over and over. As a real estate, I highly doubt that when you find one realtor, you stay with that realtor for a whole investing career.
I think if you are consistent with that repeating, you personal loans nc can achieve financial independence which I think is the main goal here.
Say that we picked you up and we dropped you back in the United States. With all of the knowledge that you have now, what does that first 90 days look like?
And all my referrals I found it through mostly Facebook. Basically just keep talking to people, keep reaching out. Ashley:And I think a lot of people forget this because I forget it sometimes. And she said that a lot of libraries will do audible books now where you can actually download the audible books for free and listen to them right through your library.
And then also you can check out a lot of real estate investing books from your library too. So you might not even have to pay a couple hundred dollars for books. And then just to touch on the coffee, I love that idea so much. Can you tell us a little bit more where everyone can find some more information about you? So if anybody out there needs any help, then they can reach out to me and I will love to help anybody. We really appreciated all the value you provided us today. RentRedi low interest unsecured loans is all about helping new landlords manage their business and be happy customers.
Go mobile and manage your properties from anywhere at RentRedi. Successful people, like business leaders, are well-known for reading a lot of books. Blinkist is made for busy people like you, who want to get the main points of a book quickly, so you can start using that payday loan in 15 minutes information right away. With Blinkist, pay weekly loans online you get unlimited access to read or listen to a massive library of condensed non-fiction books — all the books you want and all for one low price.
Trevor is asking: What was the hardest part money loan now of getting started? What helped you overcome that obstacle, and how do you mitigate analysis paralysis? Here are some suggestions: If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Ashley Kehr:This is Real Estate Rookie, show number 50. I am Ashley Kehr, and I am here with Tony Robinson. So if you guys want to get involved, join the Real Estate Rookie Facebook group. Make sure that you answer all of the questions and agree to the terms so that you can be submitted into the group. Very interested in getting out of the analysis paralysis phase and was curious if anyone is around the Northern Kentucky, Cincinnati area.
Would love to touch base and hopefully pick up a few pointers on how you got started in that area. My girlfriend and I are determined to take the leap. And I feel like so many people think and have that payday loans oregon same question. I know from my perspective, what held me back the most cash today is trying to find that perfect deal. I just need to know the ins and outs of getting that first deal done. Ashley Kehr:And I think the mindset is a huge part of just taking action and getting that first deal done. A while back, we had Jay payday loan in 15 minutes Scott on, from the BiggerPockets Business Podcast, and I love hearing about his first deal. They ended up having to rent it out and finally sold it for basically what they had put into it years ago before they actually sold it. But he has done an amazing job and he has grown and he does not regret that deal at all because they learned so many lessons from that. Actually pull the proof and figure out, okay, my insurance is going to be this, prove it to me. My property taxes are going to be this, prove it to me. How you can do that is you can get so much information online. Go online to any insurance website, ask for a free quote for that exact property. Plug in the information, a lot of times you can get quotes back within 24 hours on a property, and it will be a good estimate of what that insurance cost will be for you. And then next, you can pull the county taxes online, school taxes online, verify all that data and get your really simple loan tight numbers. BiggerPockets has the BP Insights where you can pull the rents for that area from there and underestimate it.
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