Anyone can analyze a rental property, but if you’re not careful, it’s easy to overlook significant costs that wipe out your cash flow and put you in the red. Thankfully, we’ve got some timely tips that will help you avoid these critical mistakes!
Welcome to another Rookie Reply! Ashley and Tony are back with more questions from the BiggerPockets Forums and BiggerPockets Facebook groups. Worried that your “good” real estate deal might not be a good deal after all? We’ll show you some of the things you must account for before you buy! Next, we’ll discuss the ins and outs of real estate partnerships. Whose name should go on the mortgage? How do you ensure that both parties own the property? We have the answers!
Finally, how do you make an offer on a property you haven’t seen? What if you receive a low appraisal? We’ll show you how to find “boots on the ground” in any market, renegotiate with the seller, and close on your property for a great price!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover:
Costs you must account for when analyzing a rental property
The biggest pros and cons of turnkey real estate investing
How to properly budget for capital expenditures, maintenance, and repairs
Why you need a five-year exit plan when structuring a partnership
How to find “boots on the ground” when investing out of state
Renegotiating with the seller after receiving a low appraisal
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Tony's BiggerPockets Profile
Join BiggerPockets for FREE
Real Estate Rookie Facebook Group
Real Estate Rookie YouTube
Follow Real Estate Rookie on Instagram
Ask Your Question for a Future Rookie Reply
“Like” Real Estate Rookie on Facebook
BiggerPockets Calculators
Grab Our Book, “Real Estate Partnerships”
Sign Up for the Real Estate Rookie Newsletter
Find Investor-Friendly Lenders
Real Estate Rookie 326 - The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals
(00:00) Intro
(00:18) Good or Bad Deal?
(07:31) Structuring Partnerships
(17:32) Making Offers (Out of State!)
(28:25) Ask Your Question!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-538
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