Financial Considerations in Real Estate Investing: San Francisco vs. Upstate New York

Can’t afford to buy a rental property due to your area’s high cost of living? At what point should you quit your W2 job and move elsewhere to realize your real estate investing dream? There are several factors at play here, but we tackle this exact scenario and much more in today’s Rookie Reply!

We also talk about partnerships and how to determine who should be responsible for capital, holding costs, and other expenses when flipping houses. Are you inhering tenants? There’s an important agreement you must have in place when taking over the property. Could one of your residents be subleasing your unit without your permission? You’ll learn how to navigate this situation when it comes to light, as well as what to do when a tenant violates your lease agreement. Want to avoid troublesome tenants altogether? Stick around until the end to hear how Ashley finds the best tenants in town!

If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).

In This Episode We Cover:

When you should consider moving (and quitting your job!) for real estate

How to evict a subtenant who is illegally occupying your unit

The agreement you MUST have in place when inheriting tenants

How to determine who provides the capital in an investing partnership

What you should do when a tenant violates your lease agreement

How to attract the BEST tenants for your rental properties

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

Submit Your Real Estate Rookie Question!

Enroll in the Real Estate Rookie Bootcamp Today

Become a BiggerPockets Pro Member for Lease Agreements in Your State

Rookie Reply: How to Structure a Real Estate Partnership

How to Find Your Perfect First Rental Property (Even in an Expensive Area)

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-392

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