Finding the right rental property isn’t easy. It needs to fit your budget and buy box, and if you’re house hacking, you’ll want to buy in a neighborhood you’re comfortable living in. These are just a few of many roadblocks rookies face, but we’re going to show you how to thread the needle in today’s episode!
Welcome to another Rookie Reply! We’re back with more questions from the BiggerPockets Forums and the Real Estate Rookie YouTube channel, and first up, we’ll hear from an investor who is struggling to find a property that checks all the right boxes. Should they settle for what they can afford or save up for something better? Should they shop around for different types of financing? Stay tuned to find out!
We’ll also hear from an investor who wants to use the home equity from their first rental property to help buy their next one. Should they get a HELOC (home equity line of credit), use a cash-out refinance, or sell their property? We’ll weigh the pros and cons and help them make the smartest move. Finally, if you own rentals for long enough, you’re bound to have friction with neighbors. We’ll show you how to defuse tension and build rapport!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover
The biggest hurdles new investors face when buying their first rental property
Settling for the property you can afford versus saving for something better
Narrowing down the right neighborhood for your first house hack
Three ways to tap into the equity you’ve built up in your property
How to find the right financing for your first real estate deal
The best ways to respond to neighbor complaints (that build rapport)
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-553
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