Importance of Data and Research Tools in Real Estate Investing

Not quite ready to invest in real estate? Maybe you’re still getting your finances in check or saving for a bigger down payment. In any case, don’t sit on your hands! While you wait, there are plenty of things you can do to become a more knowledgeable investor and prepare for your first deal!

Welcome back to another Rookie Reply! Today’s episode is jam-packed with essential tips for those who are just starting out. First, what market should you invest in? Ashley and Tony will show you how to identify up-and-coming neighborhoods before they explode! Most investors will also need to furnish a short-term rental or renovate a distressed property at some point in their journey. We’ll show you a hack that could help you save thousands of dollars when buying materials, furniture, and décor. At what point should you hire a bookkeeper? Can you manage your own books? Tune in for a few real estate accounting tips!

Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!

In This Episode We Cover

What EVERY rookie must learn before investing in real estate

How to save thousands of dollars when furnishing (or renovating) your rentals

When to hire a bookkeeper for your real estate business (and how to do it yourself!)

How to analyze a market and niche down on up-and-coming neighborhoods

Required reading for new investors (and the best skills to learn!)

And So Much More!

Links from the Show

Real Estate Rookie Facebook Group

Ask Your Question on the BiggerPockets Forums

Join BiggerPockets for FREE 

Find an Investor-Friendly Agent in Your Area

See Ashley and Tony at BPCON2024 in Cancun!

Real Estate Rookie – Episode 429: The Investing “Map” You NEED to Uncover Hot Markets, Neighborhoods, & Deals w/ Ariel Herrera

Check Out the BiggerPockets Market Finder Tool

(00:00) Intro

(00:49) Do I Need a Bookkeeper?

(06:43) Finding Up-and-Coming Neighborhoods

(12:48) The BEST Way to Fund Your Projects

(20:48) What to Know BEFORE You Invest

(30:18) Send Us Your Question!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-437

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.

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