A FSBO (For Sale By Owner) seller wants to move forward with your offer—that’s great news! But first, they have asked you to pull comps (comparable sales). Believe it or not, this is something you can use to your advantage. Of course, you’ll need to know where to find comps and how to estimate rehab costs so that you can defend your offer. Thankfully, Ashley and Tony are back with some of their best tips yet.
Welcome back to another Rookie Reply! Negotiating a FSBO sale can be a little intimidating, but our hosts are here to help you navigate the entire process. In this episode, we also discuss and compare real estate financing options, from conventional mortgages to portfolio loans. We even weigh the pros and cons of personal debt versus commercial debt. Struggling to find a tenant for your rental? You’ll want to hear what we have to say about lowering rent prices, as well as other steps you can take to fill your vacancy and improve your cash flow immediately!
If you want Ashley and Tony to answer a real estate question, you can 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
What you need to get approved for a commercial real estate loan
How to structure your first real estate investing partnership
The pros and cons of taking on personal mortgage debt instead of commercial debt
The best ways to estimate rehab costs
When you should consider lowering rent prices to fill a vacancy
How to find sales comps for a FSBO property (or any property!) you’re buying
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
A Step-by-Step Guide to Estimating Rehab Costs w/ Master Flipper & Investor James Dainard (Part 1)
Finding Contractors, Renovation Red Flags, and Estimating Rehab Costs (Part 2) w/ James Dainard
Propstream
Zillow
BiggerPockets Bookstore
MLS
Realtor.com
Real Estate Rookie Youtube Channel
Book Mentioned in This Episode:
The Book on Estimating Rehab Costs by J Scott
Connect with Ashley and Tony:
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-278
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