Episode #285

Buying your first "cash-flowing" rental property sight unseen? What could go wrong? While alarms might be going off in your head right now, they weren’t for today’s guest. What seemed like the “perfect” rental property turned into a major headache once he arrived to check it out four months after closing.

Welcome back to another episode of the "Real Estate Rookie" podcast! After completing multiple wholesale deals, Hudson Jump’s real estate investing journey was off to a blazing start. He figured it was time to try his hand at long-term rentals next, and it wasn’t long before he came across a potential cash cow! Unfortunately, when Hudson was finally able to check out the property he had bought, the door had been kicked in, there was trash up to the ceiling, the toilet and shower were missing, and there were squatters on the property!

While this nightmare scenario would have been enough to make any real estate rookie throw in the towel, Hudson instead found a partner who was able to help him salvage the property and transform it into a rental that generates $1,400 monthly cash flow! If a bad deal has ever caused you to question your future in real estate, tune in to hear Hudson speak on the advantages of partnerships. As always, our hosts Ashley and Tony are here to help as well—offering invaluable advice on buying properties sight unseen, leveraging direct mail, and the value of building lists!

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Making $71K on ONE Deal After 5 Failed House Flips and Six-Figure Debt: https://www.biggerpockets.com/blog/rookie-279?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Hudson on Instagram:
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none

Show notes at: https://www.biggerpockets.com/blog/rookie-285?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 Intro
03:49 Path to Real Estate
10:47 10,000 Letters!?
23:43 Long-Term Rental Disaster
34:49 Trash, Damage, and Squatters
37:31 Partner to the Rescue!
44:04 Rookie Exam
46:16 Rookie Rockstar
47:18 Connect with Hudson!
52:03 Instagram Shoutout