Stop Buying Rentals (You Have Enough) and Do THIS Instead (Rookie Reply)

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 7 March 2025

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Should you STOP buying rentals? How do you structure a seller financing deal? Can you invest out of state without a property manager? Whether you’re looking to improve your cash flow or buy a property without the bank, there’s something for you in today’s Rookie Reply! Our first question comes from an investor who is looking at a potential seller financing opportunity. Should they make multiple offers? How should they structure terms? Tune in to hear the tips Ashley and Tony have used to get low-money-down seller financing in the past! Next, we’ll hear from an investor whose real estate portfolio is barely breaking even. We’ll discuss whether they should stop buying rentals, but we’ll also dive into their assets and see if there’s an even easier (and more passive) way to build wealth with real estate! Finally, is there a cost-effective way to manage your properties from afar while still having boots on the ground to handle things like showings and move-in inspections? Ashley has some outside-the-box ideas you could try! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: How to reach your real estate investing goals without buying more rentals How to pitch seller financing (and negotiate terms) when buying property Whether you should make multiple offers on the same property (and how to do it) Building wealth through passive real estate investing opportunities How to leverage your retirement accounts to invest in real estate How to manage rental properties when investing out of state And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook PropStream Buy the Book “Start with Strategy” Sign Up for the Real Estate Rookie Newsletter Find an Investor-Friendly Agent in Your Area Which Real Estate Investing Strategy Is Best for Your Goals? (00:00) Intro (00:32) Seller Financing 101 (11:14) STOP Buying Rentals? (21:50) Managing Rentals from Afar (24:20) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-532 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	A lot of real estate content out there tells us just buy, buy, buy.
0:04.7	But when do you have enough?
0:06.9	And how do you figure the best plan to expand your cash flow?
0:10.5	We're going to discuss some kind of out-of-the-box strategies on how to use your assets to increase your passive income and how to find the best blueprint to fit your real estate goals.
0:30.0	Welcome to the Real Estate Rookie Podcast. I'm Ashley Care. And I'm Tony J. Robinson. And today we're answering your questions from the Bigger Pockets Forum. Okay. So here's our first question
0:34.5	today. I want to put an offer on a property that's been owned since
0:38.5	1987, which me means owned equity and thus potential for owner financing. But of course,
0:46.3	I have no idea yet if the owner is up for it. I'm wondering if anyone ever put two offers in a
0:51.9	house simultaneously, one conventional financing at a lower price
0:55.9	and the other owner financing at list price or closer to list price. What do you think of this
1:01.7	strategy? In my head, it shows the buyer that you're serious and it forces them to really consider
1:06.7	the owner financing because they'll get a better price plus the interest money.
1:11.8	What other ways have you approached owner financing for a house that's on the market with a
1:16.8	real estate agent?
1:18.0	But it's been sitting for a bit and already had a price cut.
1:22.2	Let's address like the first thing here.
1:24.7	And it says, I want to put an offer on a property that's been owned since 1987, which to me means owned equity. So what this person is saying that, they think
1:34.8	because the person has owned the property since 1987, they've paid off their original mortgage
1:40.1	and they have a ton of equity in the property. So the first thing I think to state is this is not always true.
1:49.8	Not everybody pays off their mortgage.
1:51.9	Some people could go and refinance, put a line of credit on the property and pull that off,
1:57.1	use a home equity loan on the property, do a reverse mortgage where they actually take
	...

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