Want to estimate your NOI (net operating income) BEFORE you buy a rental property? Calculating NOI in real estate isn’t hard, and after doing this dozens and dozens of times, we’re sharing how to estimate things like taxes, insurance, and maintenance costs so you know you’re buying a killer deal. Speaking of first deals, how much do you need to get started investing? $20K? $50K? $100K? A fellow rookie has $70K ready to invest but doesn’t know the next best move. We’re sharing exactly how they should start, and you can copy these steps no matter how much money you have.
It wouldn’t be a Rookie Reply if we didn’t discuss tricky tenant situations. One investor has a tenant who is FED UP with a broken outlet. Sounds pretty reasonable, right? Well, the tenant is giving the landlord an unreasonable ultimatum. What should the investor do? Let the tenant take care of things on their own (and potentially damage the property) or put their foot down and follow the lease agreement?
Looking to invest? Need answers? Ask your question on the BiggerPockets Forums!
In This Episode We Cover:
How to estimate your taxes, insurance, and maintenance costs before you buy a rental property
The expenses that short-term rental investors always forget when running numbers
How to respond to a tenant when they’re sending you unreasonable maintenance requests
The first step you should take when deciding to invest in real estate
How to get your first rental with just $70K (or less) and mistakes beginners make
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Tony's BiggerPokckets Profile
Join BiggerPockets for FREE
Real Estate Rookie Facebook Group
Real Estate Rookie YouTube
BiggerPockets Agent Finder
BiggerPockets Market Finder
BiggerPockets Real Estate Investment Calculators
Real Estate Market Analysis for Beginners | Rookie Resources
Hug Your Haters
NeighborhoodScout
BrightInvestor
Protect Your Properties with an LLC through Corporate Direct
Analyze Rental Properties Faster with “Real Estate by the Numbers”
Property Manager Finder
How to Invest in Real Estate with $50K in 2024
(00:00) Intro
(01:04) Calculating NOI
(08:36) Estimating Maintenance Costs & Other Fees
(11:48) Unreasonable Tenant Requests?
(23:49) Start Investing with $70K
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-487
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