Buying My First Investment Property | BiggerPockets Podcast

On today’s episode of the BiggerPockets Podcast – we’re going to change things up- again!

This is our official 2nd newbie podcast and it’s probably our most fun show yet. Just like the last newbie podcast back on episode 25, all of our guest today are investors who are just starting out and who have recently finished their first deal.

These stories are not only helpful for new investors, but even the pros can learn valuable lessons from their experiences! Each of these investors also are working full time jobs, which is something a lot of our listener’s struggle with. Additionally, we cover everything from investing when you live in an expensive city to the importance of confidence when everyone thinks your crazy and we even get to talk to a real-life rocket scientist who’s smart enough to hack his mortgage! You really don’t want to miss this one!

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Listen to the Podcast Here

Jordan Thibodeau: The Importance of Adding Value as a Buy-and-Hold Investor

How BiggerPockets helped him get started
Advice for newbies looking to find surrounding markets that work while living in expensive areas
Learning the importance of setting clearly defined investment criteria
What to look for in a good agent
Tips for creating a game plan
The importance of adding value to your property
Why Jordan decided to NOT use a property manager
Learn from Jordan’s mistakes
The importance of creating systems
And MUCH more.

Connect with Jordan on BiggerPockets!

Jacob Allen: Flipping with Confidence and Taking Action

Discriminate against a tenant who works on a marijuana farm
Adding a clause in the contract to save you money
The process of a full gut-rehab as a newbie – while working a full time job
How to vet a contractor on a budget
The importance of insurance in the face of vandalism
Using a home equity line of credit for deals
The importance of showing up on the construction site
And MUCH more!

Connect with Jacob on BiggerPockets!

Jeromie Hamann: Mortgage Hacker

How to find properties in a hot market
Why being a “live in landlord” can save you a lot of cash
What it’s like living next to your tenants
The need to sacrifice to become successful
Pre-paying your PMI
How to find a great mortgage for conventional financing
How to prepare for disasters
Travel hacking (Treveling for free!)
And MUCH more!

Connect with Jeromie on BiggerPockets!

Jeromie’s Website, FreeTravelInYourTwenties.com

Links from the Show:

The New Dumb and Dumber Trailer
Nextdoor.com
Asana.com
How to “Hack” Your Housing and Get Paid to Live for Free

Books Mentioned in the Show

HOLD: How to Find, Buy, and Rent Houses for Wealth by Steve Chader
Fooled By Randomness by Nassim Nicholas Taleb
Rich Dad Poor Dad by Robert T. Kiyosaki
Drive by Daniel H. Pink

Be sure to leave questions, comments, or messages of encouragement below in the comments!

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.