278: Rookie Reply: Finding Comps, Estimating Rehab Costs, and Filling Vacancies

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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