BiggerPockets Real Estate Podcast - Everything You Should Know BEFORE Buying a Rental Property

Before buying a rental property, real estate investing can seem scary. Only experienced landlords know how to deal with closing delays, overbudget rehabs, and tenant issues. But that doesn’t mean you have to come in blind on your first real estate investment. If you have the proper knowledge, expectations, and systems set up, you can build a real estate portfolio faster than the rest, which is what Ashley Kehr, author of "Real Estate Rookie: 90 Days To Your First Investment," did. Ashley hosts the "Real Estate Rookie Podcast," where she interviews new investors who have had one or a few successful deals. She’s seen what it takes for someone to go from bystander to investor and wants to make sure you can purchase your first investment property too. On today’s show, Ashley walks through her pre-closing checklist, where she details everything from due diligence to budgeting renovations and rehabs, how to negotiate with sellers, where to find insurance and more. This is just a brief glimpse at everything you can find in Ashley’s new book, and combining these golden nuggets with what is shared in "Real Estate Rookie" will get you on a faster path to landlord life and passive income. So, if you’ve been waiting to invest or feeling like you don’t know what you don’t know, this may be the perfect episode to start. Tune in, grab the new book, and get ready to make some property purchases in 2023! 00:00 Intro 01:31 Quick Tip 02:10 Quick Q&A: Why Do Closing Dates Matter? 05:26 The Blueprint for Buying Rental Property 07:56 Why 90 Days? 08:56 Due Diligence 18:06 Renovations and Rehabs 25:21 Negotiations 37:20 Communicating as an Investor 41:40 Landlord Insurance 47:13 What to Expect on Closing Day 53:20 Grab Ashley's New Book! ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Grab Some BiggerPockets Merch: https://bit.ly/biggerpocketsswag ~~~~ Find an Investor-Friendly Agent in Your Area: https://www.biggerpockets.com/agent/match?utm_source=owned_media ~~~~ Grab Ashley’s New Book: https://store.biggerpockets.com/products/real-estate-rookie?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Tune Into the Real Estate Rookie Podcast: https://www.biggerpockets.com/podcasts/real-estate-rookie?utm_source=owned_media ~~~~ Join a BiggerPockets Investing Bootcamp: https://www.biggerpockets.com/blog/real-estate-investing-bootcamps?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Books Mentioned in Today’s Show: Long-Distance Real Estate Investing: https://store.biggerpockets.com/products/long-distance-real-estate-investing?utm_source=owned_media You’re Not Listening: https://www.amazon.com/Youre-Not-Listening-Missing-Matters/dp/1250297192 Hug Your Haters: https://www.amazon.com/Hug-Your-Haters-Complaints-Customers-ebook/dp/B00Z8VTP5M/ ~~~~ Connect with Ashley: BiggerPockets: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none Instagram: @wealthfromrentals or https://www.instagram.com/wealthfromrentals/ ~~~~ Connect with David on BiggerPockets: David: https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Follow David and BiggerPockets on Instagram: @davidgreene24 or https://www.instagram.com/davidgreene24/ @biggerpockets or https://www.instagram.com/biggerpockets/ Episode 709 Show notes at: https://www.biggerpockets.com/blog/real-estate-709?utm_source=youtube&utm_medium=description&utm_campaign=none #biggerpockets #realestatepodcast #biggerpockets709