374: Rookie Reply: Screening Tenants, Using Hard Money, and Raising Rents

Every landlord wants the best possible tenants in their rental property, but of course, this doesn’t happen by chance. Today, we’re delivering several tips to help you improve the screening process, work seamlessly with inherited tenants, and raise rents without pushback! Welcome to another Rookie Reply! In this episode, we not only talk about dealing with tenants but also get into the different types of hard money loans and how to use them. Is an accessory dwelling unit (ADU) attached to the property you’re looking to buy? We discuss how showing its potential income can help you qualify for a loan. Finally, real estate investing is no walk in the park, despite what social media might have you believe. Stick around as we touch on some of the hard truths that new investors should know! If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE). In This Episode We Cover: How to screen tenants for your rental (and the three types of checks you need to run!) Why you NEED estoppel agreements when inheriting tenants Different types of hard money loans (and what they cover) How to bolster your loan approval odds with accessory dwelling unit (ADU) income The hard truths people DON’T tell you about investing in real estate And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Real Estate Partnerships” Financial Freedom in 10 Years and $200K Cash Flow with a Small Portfolio w/Dion McNeeley Tenant Screening Tools for Landlords: BiggerPockets Pro Avail RentRedi AppFolio Buildium TenantReports.com Set Up Your Own Virtual Mailbox with PostScan Mail   Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-374 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