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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Sponsor
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:
BiggerPockets Ad Sales
Confessions of an Ex-Banker: How to Get Your Next Loan Approved, Guaranteed.
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
Connect with Scott
Scott's BiggerPockets Profile
Connect with Lauren
Lauren's Blog - LBeeAndTheMoneyTree.com
Lauren's Twitter
Lauren's Instagram
Awkward Money Chat
Connect with Philip
Philip's Blog - PTMoney.com
Philip's Blog detailed post about his cash flow report on his rental