Everything You Should Know BEFORE Buying a Rental Property
ฝัง
- เผยแพร่เมื่อ 20 มิ.ย. 2024
- Before buying a rental property, real estate investing can seem scary. Only experienced landlords know how to deal with closing delays, overbudget rehabs, and tenant issues. But that doesn’t mean you have to come in blind on your first real estate investment. If you have the proper knowledge, expectations, and systems set up, you can build a real estate portfolio faster than the rest, which is what Ashley Kehr, author of "Real Estate Rookie: 90 Days To Your First Investment," did.
Ashley hosts the "Real Estate Rookie Podcast," where she interviews new investors who have had one or a few successful deals. She’s seen what it takes for someone to go from bystander to investor and wants to make sure you can purchase your first investment property too. On today’s show, Ashley walks through her pre-closing checklist, where she details everything from due diligence to budgeting renovations and rehabs, how to negotiate with sellers, where to find insurance and more.
This is just a brief glimpse at everything you can find in Ashley’s new book, and combining these golden nuggets with what is shared in "Real Estate Rookie" will get you on a faster path to landlord life and passive income. So, if you’ve been waiting to invest or feeling like you don’t know what you don’t know, this may be the perfect episode to start. Tune in, grab the new book, and get ready to make some property purchases in 2023!
00:00 Intro
01:31 Quick Tip
02:10 Quick Q&A: Why Do Closing Dates Matter?
05:26 The Blueprint for Buying Rental Property
07:56 Why 90 Days?
08:56 Due Diligence
18:06 Renovations and Rehabs
25:21 Negotiations
37:20 Communicating as an Investor
41:40 Landlord Insurance
47:13 What to Expect on Closing Day
53:20 Grab Ashley's New Book!
~~~~
Join BiggerPockets for FREE 👇
www.biggerpockets.com/signup?...
~~~~
Grab Some BiggerPockets Merch:
bit.ly/biggerpocketsswag
~~~~
Find an Investor-Friendly Agent in Your Area:
www.biggerpockets.com/agent/m...
~~~~
Grab Ashley’s New Book:
store.biggerpockets.com/produ...
~~~~
Tune Into the Real Estate Rookie Podcast:
www.biggerpockets.com/podcast...
~~~~
Join a BiggerPockets Investing Bootcamp:
www.biggerpockets.com/blog/re...
~~~~
Books Mentioned in Today’s Show:
Long-Distance Real Estate Investing: store.biggerpockets.com/produ...
You’re Not Listening: www.amazon.com/Youre-Not-List...
Hug Your Haters: www.amazon.com/Hug-Your-Hater...
~~~~
Connect with Ashley:
BiggerPockets: www.biggerpockets.com/users/e...
Instagram: @wealthfromrentals or / wealthfromrentals
~~~~
Connect with David on BiggerPockets:
David: www.biggerpockets.com/users/d...
~~~~
Follow David and BiggerPockets on Instagram:
@davidgreene24 or / davidgreene24
@biggerpockets or / biggerpockets
Episode 709
Show notes at: www.biggerpockets.com/blog/re...
#biggerpockets #realestatepodcast #biggerpockets709
It's great to have a video of a checklist for what to do with rental properties
This video is gold. Thank you so much for another absolute home run video packed with great advice, providing insight to situations during the various stages of the purchasing process! The books mentioned are great suggestions as well! Thank you, thank you, thank you!
I love her point about mentioning that when pitching Seller Financing, you can sell it to sellers by mentioning that there are tax benefits in order to make them more open minded to it. Love this, great interview!
I've been watching real estate videos since October ( i am a first time home buyer/ investor( i want a 4 plex)) This video is the first 1 of thousands advertised for a book to buy that i found so informative i ordered it. Sent the video to a family member. She was also very impressed and ordered it... GREAT INFORMATION THAT NO ONE HAS TALKS ABOUT!!! ESPECIALLY WHAT TO DO AND HOW TO DO THINGS IN THE "DUE DILIGENCE PROCESS
Fellow Buffalonian looking to get into rental property investing. Thanks for the content!
I'm actually kinda surprised they don't have a contractor and inspector teaming up more often. To me that's like a batman and robin pairing.
Totally agree. 👍
This is an excellent blueprint for investing in a real estate property! I loved the part about landlord insurance - always good to hear ideas and make sure the landlord insurance we have right now is the best for our properties.
This video was perfect for me as I’m making offers right now and looking to find my next deal!
Good luck! 👍🍀
Property taxes go up when you buy it at the new sale price, here in South Florida..
I am loving this interview and learning but I don't think that ot is a requirement in NY to use attorney (30:04). To my knowledge, under NY law, an individual may always represent themselves - although it is not always advisable. Please let me know if I am mistaken.
My area has a non owner occupied fee and the taxes are 2x compared to the owner occupied properties.
My county is so out of date. The last updated info is 2003 on the site… and shows no taxes sadly 🤦🏻♂️
Purchasing this book.
I just did. 👍
30:15 Does Ashley give an example of her LOI in her book, spelling out everything?
Roc New York here. Let’s go buffalo
I just pre ordered my book 📖
I just ordered mine. 👍
What would be a good strategy to get a agent that knows rental investing rather than a run of the mill agent that might not be as beneficial to the deal
Look for investor-friendly agents, often they are investors themselves. When you first meet with them ask them questions about investment properties so you get a sense of what they know. You can find investor-friendly agents in your area for free at biggerpockets.com/agentfinder
how can i buy one with 7k capital?
Get others to invest