367: How to Buy a Hotel: Breaking Down Tony’s FIRST Commercial Real Estate Deal
02/14/24 • 47 min
Commercial real estate investing might seem intimidating, but in many cases, this kind of rental property is even easier to buy than a single-family home. After two failed attempts, our own Tony Robinson unlocked the blueprint for buying commercial properties as a beginner!
Welcome back to the Real Estate Rookie podcast! Recently, Tony took down his very first commercial deal—a thirteen-unit property he plans to transform into a hotel with self-check-in convenience. But this huge triumph didn’t come without a few costly mistakes. Before landing his “golden goose,” Tony missed out on two properties and lost thousands of dollars in the process. By his third attempt, however, he had cracked the code!
If you want to scale your real estate portfolio and become a full-time investor, buying a commercial property might be your best bet. In this episode, Tony dives into the numbers and projections for his new hotel, as well as the biggest takeaways from his experience. He also shares how to find a market for a niche property, how to raise private capital for a large deal, and why it’s easier to approach an owner about seller financing on a commercial deal!
In This Episode We Cover:
How to buy commercial real estate as a novice investor
Finding the right market for your niche property
How to raise capital to take down even bigger real estate deals
The five factors that determine if you can compete in a market
Why you NEED to develop your network before buying commercial real estate
When to hire your first employee for your real estate business
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Real Estate Partnerships”
Why Self-Storage Beats Rental Properties
Commercial Real Estate Fundamentals for Successful Investors
Scaling from Single Family to Commercial Real Estate
Find Your Next Commercial Property:
Check the full show notes here: ht...
Commercial real estate investing might seem intimidating, but in many cases, this kind of rental property is even easier to buy than a single-family home. After two failed attempts, our own Tony Robinson unlocked the blueprint for buying commercial properties as a beginner!
Welcome back to the Real Estate Rookie podcast! Recently, Tony took down his very first commercial deal—a thirteen-unit property he plans to transform into a hotel with self-check-in convenience. But this huge triumph didn’t come without a few costly mistakes. Before landing his “golden goose,” Tony missed out on two properties and lost thousands of dollars in the process. By his third attempt, however, he had cracked the code!
If you want to scale your real estate portfolio and become a full-time investor, buying a commercial property might be your best bet. In this episode, Tony dives into the numbers and projections for his new hotel, as well as the biggest takeaways from his experience. He also shares how to find a market for a niche property, how to raise private capital for a large deal, and why it’s easier to approach an owner about seller financing on a commercial deal!
In This Episode We Cover:
How to buy commercial real estate as a novice investor
Finding the right market for your niche property
How to raise capital to take down even bigger real estate deals
The five factors that determine if you can compete in a market
Why you NEED to develop your network before buying commercial real estate
When to hire your first employee for your real estate business
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Real Estate Partnerships”
Why Self-Storage Beats Rental Properties
Commercial Real Estate Fundamentals for Successful Investors
Scaling from Single Family to Commercial Real Estate
Find Your Next Commercial Property:
Check the full show notes here: ht...
Previous Episode
366: The EASIEST Way to Get into Real Estate Investing With NO Money w/Amina Stevens
Choosing to wholesale real estate might be the EASIEST way to kick-start your real estate investing journey. You don’t need a ton of money and you don’t need to take on debt. And with a couple of deals under your belt, you’ll have the money to buy your own investment properties !
Welcome back to the Real Estate Rookie podcast! Today, Amina Stevens is an investor, wholesaler, and the host of First-Time Buyer's Club on the Oprah Winfrey Network. But only a few years ago, Amina was a high-school educator who was teaching kids to “follow their dreams” without following any of her own. So, she left her “safe” career, got her license, and found a real estate mentor who showed her the ropes of wholesaling land.
Want to invest in real estate but feel you don’t have the money or connections to start? Wholesaling could be the perfect strategy to get your foot in the door! In this episode, Amina shares how she chose her market, found sellers and buyers, and built a six-figure real estate business from the ground up—everything you could need to get started today!
In This Episode We Cover:
The “easiest” way to get into real estate with NO money
How Amina built a six-figure business in only a few months
Why you NEED a mentor to help fast-track your investing journey
How to get money to buy investment properties by wholesaling land
The systems and processes YOU need for a successful real estate business
How to find the perfect market for your real estate investing strategy
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
A 60-Day Action Guide to Wholesaling Your First Property
Real Estate Wholesaling: Profit Parasites or Property Investors’ Best Friend?
Connect with Amina
Amina's Instagram: @homesbyamina
Amina's Twitter: @homesbyamina
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-366
Interested in learning more about today’s sponsors or becoming a BiggerPocket...
Next Episode
368: Pay Less Tax to the IRS This Year With THESE Real Estate Tax Strategies w/Natalie Kolodij
Want to pay less money to the IRS in 2024? We’ve got the real estate tax strategies to help you do just that. And get this—you don’t need a large real estate portfolio to benefit from these money-saving tax tips!
Welcome back to the Real Estate Rookie podcast! Today, real estate tax strategist Natalie Kolodij lends her expertise on the many tax benefits of real estate investing. Natalie is not only a certified public accountant (CPA) but also a fellow investor, and in this episode, she shares the unique real estate investing strategy she used to get started—flipping mobile homes! She also dives into the different types of partnerships and their tax advantages, as well as common house hacking misconceptions that cause new investors to miss out on important deductions.
Need to sell a property? You’ll want to know about the exclusion that allows you to avoid capital gains tax. Natalie even gets into the short-term rental “loophole” that investors can use to reduce their taxable income each year. Of course, you don’t need to master the tax code before buying your first property—you just need to find a tax professional who specializes in real estate. So, Natalie offers three questions you MUST ask before hiring one!
In This Episode We Cover:
Must-know 2024 tax strategies for the small rookie investor
Crucial real estate questions to ask a tax professional before hiring them
How to plan and file taxes for different types of partnerships
Common house hacking misconceptions that cost investors thousands of dollars
The short-term rental “loophole” that allows you to reduce your taxable income
How to dodge capital gains tax when selling your investment property
The most common tax mistakes that new investors make (and how to avoid them!)
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Hear Natalie on the “BiggerPockets Money” Podcast
What You Need to Do NOW to Pay Fewer Taxes in 2024
How to (Legally) Avoid Taxes by Investing in Real Estate
Seeing Greene: CPAs Answer YOUR Top Investing and Tax Questions
If you like this episode you’ll love
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