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Episode #312 You recently submitted an offer on a rental property, but you haven’t heard back from the seller. Now what? As an eager rookie investor, the waiting game can be painful. You may already have an eye on other properties but need the capital to invest. Should you withdraw your original offer? Fortunately, Ashley and Tony have a few helpful tips to make your decision a little easier. Welcome back to another Rookie Reply! In this episode, our hosts tackle several important topics—including when to pull an offer on a house and whether you should create an LLC when buying your first property. They also discuss the biggest differences between single-family and multifamily real estate and which type of property is best for rookie investors to target. Finally, they talk about how to become a private money lender and the two important documents that should be in place before you lend a penny! If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group, call us at the Rookie Request Line (1-888-5-ROOKIE), or click here: https://www.biggerpockets.com/reply?u... ~~~~ Join BiggerPockets for FREE: https://www.biggerpockets.com/signup?... ~~~~ Join the Real Estate Rookie Facebook Group: / realestaterookie ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/lendermatch ~~~~ Submit Your Real Estate Rookie Question! https://www.biggerpockets.com/reply?u... ~~~~ Hear Our Full Episode on Real Estate Partnerships: https://www.biggerpockets.com/blog/ro... ~~~~ Grab Your Copy of “Real Estate Partnerships” Today: https://biggerpockets.com/partnerships ~~~~ How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability: https://www.biggerpockets.com/blog/ro... ~~~~ Follow Mindy Templeton on Instagram: @investinginyourwealth or / investinginyourwealth ~~~~ Connect with Ashley and Tony on BiggerPockets: Ashley: https://www.biggerpockets.com/users/e... Tony: https://www.biggerpockets.com/users/t... ~~~~ Shoot Ashley and Tony a Question on Instagram! @wealthfromrentals or / wealthfromrentals @tonyjrobinson or / tonyjrobinson Show notes at: https://www.biggerpockets.com/blog/ro... 00:00 Intro 05:12 Should I Pull My Offer? 10:41 Single-Family vs. Multifamily 16:44 Do I Need an LLC? 20:35 Becoming a Private Money Lender 32:00 Send Us Your Question!