BiggerPockets Real Estate Podcast 589: 10 Actionable Steps Anyone Can Follow to Buy a Rental Property
Mar 29, 2022
The hosts share ten actionable steps to successfully buy rental properties amid fierce market competition. They emphasize the importance of consistency and communication in partnerships to achieve real estate goals. Learn how to navigate challenges in negotiations and the benefits of structured meetings for management. Tips include mastering realtor communications and leveraging effective negotiation strategies to break through bidding wars. Dive into strategies for defining investment criteria and ensuring a solid return on investment!
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Define Your Criteria
- Define your investment criteria, including asset class, area, and price point.
- This helps you narrow your search and find deals that fit your needs.
Investment Evaluation Matrix
- Analyze deals through a matrix of revenue, equity, debt, time, and risk.
- Evaluate each property through these lenses to identify strengths and weaknesses.
Weekly Review Meetings
- Schedule consistent weekly meetings to review potential properties.
- Maintain structure and accountability in your investment search.