Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

361: How to Buy Your First Rental Property When You CAN’T Get Approved for a Loan w/Mike Previtera

361: How to Buy Your First Rental Property When You CAN’T Get Approved for a Loan w/Mike Previtera

FromReal Estate Rookie


361: How to Buy Your First Rental Property When You CAN’T Get Approved for a Loan w/Mike Previtera

FromReal Estate Rookie

ratings:
Length:
52 minutes
Released:
Jan 30, 2024
Format:
Podcast episode

Description

Want to know how to buy your first rental property without money getting in the way? For years, Mike wanted to invest in real estate, but banks wouldn’t give him a loan. If you’re having the same issue, we’re here to help!
 
Welcome back to the Real Estate Rookie podcast! After multiple deals fell through during the financing stage, Mike Previtera realized he needed to work on his finances. So, he and his wife trimmed the fat from their budget and aggressively paid off bad debts. Mike even made changes to his lawnmowing business—raising rates and working extra hours to increase his income. Within one year, all of the hard work had paid off, as Mike was able to get financing for not only his first deal but also the deals that followed!
 
If your financial situation is holding you back from buying real estate, this episode is for you! Mike recalls the exact steps he took to get his finances in order. He also shares how he grew his network, which allowed him to find more deals and financing opportunities. Finally, he talks about some of his biggest investing mistakes—mistakes that YOU can avoid!

In This Episode We Cover
How to buy your first rental property when you can’t get a loan
Finding deals, connections, and mentors through the power of networking
Why hustling for a season could help kickstart your real estate journey
How to lay your financial foundation before investing in real estate
The BEST strategies for finding deals as a new investor
The most common real estate investing pitfalls (and how to AVOID them!)
And So Much More!

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-361
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Jan 30, 2024
Format:
Podcast episode

Titles in the series (100)

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.