284: Rookie Reply: What You Need to Know Before Buying Your First Rental

Still waiting to buy your first rental property? Everyone’s been there. It can be nerve-racking not knowing where to buy, what makes a “good deal,” and whether or not all your hard work will go to waste. Even investing experts like Ashley and Tony were nervous about taking their first step, which is exactly what they’ll walk through on today’s episode! If you’re a rookie sitting on the sidelines, waiting to get into real estate, this is the episode for you!

Welcome back to another Rookie Reply! In this episode, we share exactly how to close an off-market deal when there’s no real estate agent involved. Ever wondered how our hosts went from real estate rookies to real estate pros? Today, they share their first deal diaries. Learn how Ashley ended up buying the first property she EVER looked at and how Tony bought his first two properties with ZERO money down. Finally, we touch on the struggles of analyzing deals when you’re just starting out, as well as choosing the right insurance policies for short-term rentals!

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

How to close an off-market deal with no real estate agent involved

Key takeaways from our hosts’ very first real estate deals

Landing your first real estate deal (with as little as NO money down!)

How to analyze a property and know when you’re getting a GREAT deal!

The differences between renters and homeowners insurance (and which one you need)

The best ways to insure a short-term rental (STR) property

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Join the Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

BiggerPockets Rental Calculator

2 Long-Distance Rentals with $0 Down with Tony Robinson

Don’t Lose Your Portfolio to Lawsuits! Here’s How to Protect Yourself

Asset Protection for Rookies: 7 Wealth-Saving Answers from an Expert

How to Buy a Rental Property with NO Money OR Credit

Get Competitive Insurance Options for Your Short-Term Rental: BiggerPockets, Steadily and Proper Insurance

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-284

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