Utilizing Data Tools for Rental Property Decisions

This chapter highlights the significance of using tools like the BiggerPockets rental estimator to evaluate rental prices effectively. It further delves into analyzing market data and the types of properties under consideration, emphasizing their potential impact on rental success.

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Let’s say you’ve got $40,000 to invest. You could split the money into two down payments and buy more properties or partner with someone with money and build a bigger real estate portfolio. But even though you CAN do this, it might be a better idea to stay a small investor. Why? We’re talking about it in this episode, along with some of the regrets we have from scaling far too fast.

Welcome back to another Rookie Reply! Today, we’re showing you how to run real estate “comps” to find the right rent and asking prices for properties, plus whether or not your new rental will have enough demand to stay occupied. We’ll also discuss when a house is TOO big to house hack and how to find tenants for a rent-by-the-room investing strategy. Finally, can you buy more than one rental a year? Yes! But be careful, doing this could put you in a dangerous spot (we’ll explain why).

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

In This Episode We Cover:

How to run “comps” in real estate and estimate rent prices accurately

Whether or not a neighborhood is worth investing in with many units for rent already

Why you may NOT need to buy a huge house for house hacking

Finding tenants when using the rent-by-the-room investing strategy

How to build a real estate portfolio with $30,000 - $40,000

And So Much More!

Links from the Show

Ashley's BiggerPockets Profile

Tony's BiggerPokckets Profile

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