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On today's episode of the BiggerPockets Podcast - we're going to change things up. You see, all of our interviews thus far have been with real estate investing professionals, who are absolutely crushing it in their real estate journey.
However, today, we want to sit down with some investors who are just starting out and can tell us their stories of how they achieved their first real estate deal. These stories are not only helpful for new investors, but even the pros can learn valuable lessons from their experiences. We cover everything from investing when you live in an expensive city to dealing with the drama that might arise during a wholesale deal and even tips for buying a small multifamily property as your first primary residence. Don't miss this amazing set of interviews with some really great individuals!
Read the transcript to episode 25 here
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Nicholas Stevens: The Live-In Buy and Hold Triplex
Why he chose to buy a multifamily property for his first home
Using an FHA 203K loan to fund a rehab real estate deal
Dealing with a bad attorney
Buying a property with existing tenants
Tips for living with your tenants
Connect with Nicholas on BiggerPockets!
Ezinwanne Hawkins: Wholesaling the Shell of a House
Gaining a local mentor to help learn real estate
Free ways to market for wholesalers
Dealing with major problems on a real estate investment
How Ezinwanne got a property under contract for just $1 Dollar
Connect with Ezinwanne on BiggerPockets!
Matt Whiteside: The Stressful (but Profitable) First Wholesale Deal
Finding motivated sellers via late taxes
How a multiple bid situation gave Matt almost $10,000 more.
How Matt negotiated with a HOA to lower his selling expenses
Making $11,000 with a $1 investment
Connect with Matt on BiggerPockets!
Mehran Kamari: Investing Out of State
Tips for buying your first home
How to find good out-of-state investing locations
Buying real estate without ever stepping foot inside
Tips for finding and interviewing a great property manager
Using BiggerPockets to find partners and make deals happen
Connect with Mehran on BiggerPockets!
Links from the Show:
New Member Introduction Forum
ThisMomBuysHouses.com
The 2% Rule and 50% Rule
Google Street View
The BiggerPockets Deal Analysis Forum
Books Mentioned in the Show
How to Be a Deed Grabber by Rick Dawson
How I Turned $1,000 into Five Million in Real Estate in My Spare Time by William Nickerson
Tweetable Topics
"When financing real estate, find a lender who knows what they are doing." (Tweet This!)
"If you have a good property, at a good price, in a good location - you won't have a problem selling." (Tweet This!)
"You can't use your location as an excuse not to invest." (Tweet This!)
"It's more important, with early deals, to get them moved early and build your confidence." (Tweet This!)
Be sure to leave questions, comments, or messages of encouragement below in the comments!
View the full article: BP Podcast 025: Four Newbies and Their Very First Real Estate Success Stories