Floods, evictions, and bad property managers on ONE rental property?! These are the kinds of things that spook rookies out of real estate investing altogether. Fortunately, many of these issues are avoidable, and today, we’ll equip you with some property-saving advice that could help you prevent a major blunder!
Welcome back to another Rookie Reply! While scouring the BiggerPockets Forums this week, we stumbled on a full-blown horror story that involves several problems with the same property. Tony and guest co-host Noah Bacon have encountered similar issues throughout their investing journeys, and in this episode, they’re going to break them down and show you how to handle them. You’ll learn why you should think twice before passing up on a sewer scope, how to adjust your tenant screening process and avoid evictions, and how to effectively manage your property managers!
Tony:
Alright guys, let’s get your questions answered. Welcome to the Real Estate Rookie podcast where every week, three times a week, we bring you the inspiration, motivation, and stories you need to hear to kickstart your investing journey. Now, today’s rookie reply is going to be just a little bit different for a few reasons. Instead of answering your questions, we’re actually going to be featuring one forum users of the BiggerPockets form. We’re going to take one story bit of a horror story and use it as a jumping off point about what to do and what to look out for so you never end up in that person’s shoes. Now the second reason today is that Ashley, my co-host is Ashley Traveling. So I’ll be joined by Noah Bacon and you might recognize him from being on the Ricky Podcast before and from his YouTube series How I Got started, which aired on the BiggerPockets Real Estate Rookie YouTube channel. So Noah, thanks for joining us today, brother.
Noah:
Thank you so much for having me today, Tony. It’s a real, real honor to be here with you.
Tony:
Yeah, dude. Excited to jump in with…