logo
episode-header-image
May 2013
1h 14m

19: Short Sales Tips, Starting Out in Re...

BIGGERPOCKETS
About this episode

On today’s episode of the BiggerPockets Podcast, we are joined by Arizona real estate investor Tracy Royce to discuss all things related to short sales, getting started, and the best ways to run your real estate investing business.

This show has a ton of tips for finding the best way to help sellers who are underwater on their mortgages and still make you a profit as a real estate investor, as well as great strategies for using virtual assistants to lighten your work load and other tips for those who are just getting started.

Read the transcript for episode 19 with Tracy Royce here

In This Show, We Cover:

  • How to get paid to learn about real estate
  • How to parlay your talents into a job with a real estate investor;
  • How to “shift” with a changing market and recognize future trends
  • How to use virtual assistants in your real estate business
  • Goals: Good, bad, and ugly
  • Getting started with no money by using technology and social media
  • What a short sale is and the short sale process
  • How to find a great short sale agent
  • Tips for getting your short sale offers accepted

Books Mentioned in the Show

Links from the Blog

Tweetable Topics

  • “When investing in real estate – you have to start out in the mail room.” (Tweet This!)
  • “Don’t expect to get rich tomorrow. You gotta put the work in, you gotta hustle.” (Tweet This!)
  • “If you want an easy job, Sell kittens at a pet shop. Real estate investing isn’t easy.”(Tweet This!)
  • “If you put more fishing lurers out there, you are more likely to catch things.”(Tweet This!)

Connect with Tracy

Learn more about your ad choices. Visit megaphone.fm/adchoices

Up next
Yesterday
2025 Long-Distance Investing Blueprint (Listen Before Buying)
Can’t make the numbers work in your local market? No worries—long-distance real estate investing is the natural next step. We’ve done it before, many times, and made the beginner mistakes, so you don’t have to. Now, we’re gearing up to do it again. Dave and Henry are heading out ... Show More
41m 2s
Jul 7
Replacing His Income with Rentals (in 3 Years!) by “Recycling” Money
In just three years, this investor scaled up to making over $100,000 per year thanks to real estate. He did it all starting in 2022 when interest rates were beginning to rise, the market was turning, and many investors decided to sit on their hands. Thanks to a strategy that allo ... Show More
40m 2s
Jul 4
How to Buy Real Estate Without Banks (Private Money Lending)
Can’t (or don’t want to) get a bank loan? We have another option for funding your real estate investments: private money lending! If your DTI (debt-to-income) is too high, you’ve maxed out how many mortgages you can get, or you need quick cash to finance a renovation, house flip, ... Show More
40m 14s
Recommended Episodes
Sep 2023
320: How to Work LESS and Earn MORE by Putting "Profit First" in Real Estate w/Mike Michalowicz
We know what you want: more profit while working less in your real estate business. As a rookie, investing in real estate can sometimes seem like more trouble than it’s worth. But, a few simple adjustments can take HOURS off your plate while making you more money than you can ima ... Show More
51m 57s
Mar 2024
383: Rookie Reply: “Managing” Your Property Manager & How to Invest While in Debt w/Tiamo Wright and Mindy Jensen
A property manager can alleviate the burden of screening tenants, collecting rents, and maintaining your property. But if you’re not careful, exorbitant fees and unexpected charges can quickly eat away at your cash flow. Today, you’re going to learn how to navigate this relations ... Show More
37m 20s
Sep 2023
326: The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals w/Nate Robbins
Finding off-market real estate deals can be a great way to kick off your investing career, as it requires very little money to get started. The catch? You must be willing to get your hands dirty.Welcome back to the Real Estate Rookie podcast! Today, we’re chatting with real estat ... Show More
58m 24s
Jan 2024
354: How to Unlock Off-Market Real Estate Deals with This “Personalized Pitch” w/Brett Long
Off-market real estate deals allow you to avoid the multiple listings service (MLS) and find RARE properties often at a sizable discount, but many rookie investors are hesitant to send mail or pick up the phone. If that sounds like YOU, we have the tips, tools, and templates to m ... Show More
45 m
Sep 2023
319: The Beginner’s Guide to Real Estate Development (with LOW Money Down!) w/Terry Harris
Getting into real estate development with low money down!? Many rookies assume that you need more money to develop, but there are a variety of ways to fund these projects. It all depends on how creative you’re willing to get! Today’s guest learned quickly that you don’t need a hu ... Show More
1 h
Apr 2023
277: Leaks, Surprise Rehabs, and the Reality of Buying Your First Rental Property w/Sara Plaisted
You don’t need to look very far to find a real estate success story, but it’s not every day that you hear from someone who is currently in the trenches of their very first real estate investment. The truth is that there are all types of hurdles to overcome during an investing jou ... Show More
51m 17s
Aug 2023
317: 7 Deals in 2 Years with HUGE Cash Flow: How to Grow Your Real Estate FAST w/Mackenzie Brogdon
Growing a real estate business with multiple rentals and HUGE cash flow…in just two years!? How do you get so many deals done in such little time? Simply by putting one foot in front of the other, today’s guest was able to create a sizable portfolio in no time—allowing her husban ... Show More
50m 30s
Aug 2023
313: The REAL Side of Real Estate: When Rehabs and Rentals Go Wrong w/Tyrin Tyson
No real estate investing journey is ever sunshine and rainbows, but some are certainly more difficult than others. Many rookie investors are either so fearful of making a mistake that they experience “analysis paralysis” or are so eager to own property that they rush into several ... Show More
1h 5m
Mar 2020
1: From 4 Years of Analysis Paralysis... to 4 Cash-Flowing Properties with Lauren and Kyle Clugston
How will YOU transition from the "getting educated" phase to taking direct action toward your real estate goals?Start by taking cues from Lauren and Kyle!In this premiere episode, they share how they powered through their initial hesitation to build a "small but mighty" rental po ... Show More
1h 8m
Dec 2023
348: How to Take Your Real Estate Business to the Next Level in 2024
Ready to grow your real estate business in 2024? With another year in the rearview, it’s time to start dreaming of what your business could become in the next twelve months. Whatever success looks like to you, it starts with careful planning!Welcome back to the Real Estate Rookie ... Show More
51m 3s