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    How to Find, Evaluate, and Offer on Rental Properties in 2024

    enJuly 18, 2024
    Who is the host of the BiggerPockets webinar?
    What does Dave Meyer emphasize for successful investing?
    What benefits does real estate investing offer?
    How can one find an investor-friendly real estate agent?
    What tool can simplify rental property deal analysis?

    Podcast Summary

    • Webinar techniquesLearn valuable techniques for finding deals, analyzing them effectively, and increasing acceptance rates from the BiggerPockets webinar on 'how to find, evaluate, and offer on rental properties'.

      The BiggerPockets webinar on "how to find, evaluate, and offer on rental properties" provides valuable insights for new and experienced real estate investors. Dave Meyer, the Vice President of Market Intelligence at BiggerPockets, shares his expertise in finding good deals, analyzing deals effectively, and overcoming obstacles to getting offers accepted. He emphasizes the importance of commitment and consistency, offering a 20% discount on a pro membership for those who attend the webinar. The webinar covers techniques for finding deals on and off the market, mastering deal analysis, and strategically offering on deals to increase acceptance rates. By attending, investors can gain practical tools and knowledge to grow their rental property portfolio.

    • Real Estate Investing for Time FreedomThrough real estate investing, one can achieve financial freedom, not just wealth, and regain control over time. Overcome hesitation and fear by self-educating and surrounding oneself with resources and knowledgeable individuals.

      Financial freedom, achieved through real estate investing, is not just about accumulating extreme wealth, but rather regaining control over how one spends their time. Real estate investing can offer various benefits, including financial security, time flexibility, and the ability to pursue hobbies or travel. However, many people are hesitant to invest due to lack of confidence or fear of losing money. To overcome these reservations, self-education and surrounding oneself with knowledgeable individuals and resources, such as BiggerPockets, are essential. Confidence grows as one learns to analyze deals and make informed decisions, ultimately leading to successful investments. Remember, every investor has had reservations, but with the right tools and community, they can overcome them and build a prosperous real estate portfolio.

    • Real Estate Investing CollaborationCollaboration and sharing resources within a real estate investing community can help investors scale up faster and overcome challenges. Finding the right deals efficiently is key to financial freedom, which can be achieved with less than a hundred properties.

      Successful real estate investing often involves collaboration and the use of shared resources. Sharing tools and knowledge within a community can help investors scale up faster and overcome challenges. For instance, a member of the BiggerPockets community named Jason was able to replace his six-figure income with passive real estate income in just three and a half years through the use of these resources. Contrary to popular belief, it doesn't take hundreds or thousands of properties to achieve financial freedom. Instead, finding and analyzing the right deals efficiently is key. This process requires effort and time, but the reward is financial freedom and the gift of time back. The first step in this process is finding leads, which can be thought of as potential deals. This involves looking at a large number of properties before finding one worth offering on. Finding leads can be done through various methods, including direct mail, driving for dollars, and networking with other investors. These methods allow investors to find off-market deals and increase their chances of finding profitable investments.

    • Real Estate AgentA real estate agent specialized in investor deals can help find and evaluate investment properties through the MLS and off-market listings, providing networking opportunities as well.

      Working with an investor-friendly real estate agent can be an effective strategy for finding and evaluating real estate investment deals. While using the MLS is a common approach for finding leads, an investor-friendly agent can help sift through the listings and send you great deals. Moreover, such agents may also provide you with off-market listings and networking opportunities. To find a great investor-friendly agent, consider using resources like BiggerPockets' agent-matching tool. Once you have a list of leads, it's crucial to evaluate each deal carefully to ensure the numbers work and you're getting the best possible return. Using a rental property calculator, like the one on BiggerPockets, can help simplify the deal analysis process. By following a systematic approach and practicing regularly, you'll be able to analyze deals efficiently and make informed investment decisions.

    • Cost AnalysisWhen analyzing a real estate investment, consider all costs including closing costs, rehab expenses, and loan factors to accurately estimate property value and potential rental income. Use resources like calculators and consult experts.

      When analyzing a potential real estate investment, it's important to consider all costs involved, including closing costs and potential rehab expenses, in order to accurately estimate the property's value and potential rental income. The speaker recommends using resources like the BiggerPockets calculator and rent estimator to help with this analysis. Additionally, talking to a lender and other investors can provide valuable insights. Remember, a down payment, interest rate, and loan term are also important factors to consider when evaluating a loan for the investment property.

    • Real Estate ExpensesWhen evaluating potential real estate investments, consider both fixed and variable expenses including property taxes, insurance, repairs, maintenance, vacancy, capital expenditures, management fees, and utilities. Use a calculator to estimate expenses and determine potential cash flow and cash on cash return.

      When evaluating potential real estate investments, it's important to consider both fixed and variable expenses. Fixed expenses include property taxes and insurance, while variable expenses include repairs and maintenance, vacancy, and capital expenditures. A good rule of thumb for repairs and maintenance is 7%, for vacancy is 8%, and for capital expenditures is 5%. Management fees and utilities are also important factors to consider. By using a calculator and estimating these expenses, investors can determine the potential cash flow and cash on cash return of a property. A good deal might offer a cash flow of $160 a month and a cash on cash return of around 6%. However, investors can adjust their assumptions to increase their desired return. For example, they could negotiate a lower purchase price or a lower interest rate. By understanding these expenses and their potential impact on returns, investors can make informed decisions about which deals to pursue.

    • Real Estate Deal AnalysisEffectively analyzing deals using the right tools like Deal Analyzer can help determine potential profits, annualized returns, and generate attractive reports for partners or lenders. Strategically offering at the right time, keeping it clean, and focusing on terms can increase acceptance chances.

      Using the right tools and effectively analyzing deals is crucial for successful real estate investing. The Deal Analyzer calculator discussed can help determine potential profits, annualized returns, and even generate attractive PDF reports to present to potential partners or lenders. However, before making an offer, it's essential to ensure the numbers work and consider the seller's situation. Being the first or last to offer, keeping it clean, and focusing on terms rather than just price are effective strategies for getting offers accepted. Remember, knowing when to walk away from a deal is just as important as making an offer.

    • Real Estate Negotiation StrategiesSuccessful rental property negotiations require collaboration with sellers, not adversarial approaches. Strategies include finding great deals, evaluating deals with tools, offering on deals with tactics, flexibility, multiple options, and follow-up offers.

      Successful rental property negotiations involve collaboration with sellers rather than adversarial approaches. Here are seven effective strategies to get your offer accepted: 1. Find deals with great leads. 2. Evaluate deals with great tools. 3. Offer on deals with great tactics. 4. Be flexible with higher purchase prices and concessions. 5. Provide multiple options for sellers. 6. Make follow-up offers. 7. Approach negotiations like hiking with friends, with the right tools, experienced companions, and a plan. Real estate investing doesn't have to be intimidating. With the right resources, community, and training, it can be a rewarding and achievable goal. BiggerPockets offers the tools, content, and community you need to succeed in real estate investing. Upgrade your game with BiggerPockets Pro for a one-stop shop to find, fund, and analyze real estate deals with confidence. Join the three million investors already using these resources to fuel their financial dreams.

    • BiggerPockets Pro membership benefitsBiggerPockets Pro membership offers advanced analysis tools, education, network, and software for property management, portfolio monitoring, accounting, and legal agreements, saving investors thousands and providing everything needed to start and scale a real estate portfolio. Tax-deductible, normally $5000+ value, special webinar offer: 20% off.

      Becoming a BiggerPockets Pro member offers significant value for real estate investors. For a reasonable price, Pro members gain access to advanced analysis tools, world-class education, a larger network, and essential software for property management, portfolio monitoring, accounting, and legal agreements. These benefits combined can save investors thousands of dollars and provide everything needed to start and scale a real estate portfolio. Additionally, Pro membership is tax-deductible, and the value of the included tools would normally cost over $5,000. BiggerPockets' mission is to make real estate investing accessible, and they achieve this by offering Pro's amazing features at an affordable price. As a special offer, by attending this webinar, you can receive 20% off the annual Pro membership, making it an even more attractive deal. With this membership, you will receive additional bonuses like worksheets, a nine-hour workshop, a housing market bundle, and the ACR analysis toolkit, all for free.

    • Real Estate Investing DealBecome a BiggerPocketsPro member to receive a free $229 deal analysis package, including a book, Excel files, video tutorials, and bonuses, with a 30-day money-back guarantee and a 20% discount.

      BiggerPocketsPro.com is offering a valuable deal for those interested in leveling up their real estate investing. By becoming a pro member, individuals can receive a free copy of Dave Meyer's book "Real Estate by the Numbers," along with personal Excel files and video tutorials on deal analysis. This package, which normally costs $229, is available for free with a 30-day money-back guarantee. This offer includes additional bonuses such as the Show Me Your Money starter pack, the Demystifying the Housing Market bundle, and a 20% discount. By utilizing this comprehensive resource, investors can improve their skills in finding leads, evaluating potential deals, and making successful offers on rental properties, ultimately helping them build a profitable rental portfolio and pursue financial freedom. Use the code EVALPOD24 at BiggerPockets.com to take advantage of this exclusive offer.

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    BiggerNews: What Happens if the Housing Market Crashes (& What Will Cause It) w/J Scott

    BiggerNews: What Happens if the Housing Market Crashes (& What Will Cause It) w/J Scott
    Recession fears are increasing. The stock market has taken substantial hits, housing inventory is climbing, and bank account balances are starting to fall. So, with more economic turmoil, we have to ask: will the housing market crash? And if we get a housing market crash, how bad (or good) will it be for investors? Could we see a 2008-style selloff, or should we be more prepared for small dips worth taking advantage of? Today, we’re asking two top investors these questions, one of whom literally wrote the book on Recession-Proof Real Estate Investing. J Scott and James Dainard join us on today’s episode to discuss market crash predictions, scenarios, and opportunities for real estate investors. Both J and James experienced the 2008 housing market crash—an economic event almost impossible to forget. But is 2024 shaping up for a sharp decline like 2008, or will we simply see a slower real estate market like most people had expected when interest rates began to rise? If the market DOES crash, what should you look for to take advantage, and how do you ensure you don’t get caught biting off more than you can chew? J and James break down their game plans if prices fall and why buying now could set you up for wealth ten years from now, IF you can handle the “fear” of buying when others are running from real estate. In This Episode We Cover: New housing market “crash” predictions and how low prices could go Why economic “fear” is rising now, and the recession indicators that are going off Rising housing inventory and why experienced investors expected this already The difference between the 2008 housing market crash and today What could cause a housing crash and how to know it’s time to buy The immense opportunities for investors that 99% of Americans will pass up And So Much More! Links from the Show Grab Chad’s Book, “The Small and Mighty Real Estate Investor” Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Grab J’s Book “Recession-Proof Real Estate Investing” Find Investor-Friendly Lenders See Dave and James at BPCON2024 in Cancun! Why Has the Housing Market Not Crashed in Over 15 Years? (00:00) Intro (04:01) New Recession Fears (14:25) Is This Like 2008? (18:06) What Will Cause a Crash (31:11) What to Do During a Crash (36:56) Opportunity for Investors Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1005 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

    How to Retire Early with Fewer Rental Properties Than You Think w/Chad Carson

    How to Retire Early with Fewer Rental Properties Than You Think w/Chad Carson
    You want to retire early, so you come up with a plan. “I’m going to buy ten rental properties and call it quits, then I’ll never have to work again.” Within a decade, you’ve got your ten rental properties, but now you want more. You buy another ten, then a big apartment complex, and now you’re raising money to buy even more. You have zero free time, investors to answer to, and a lot of stress. This wasn’t what you wanted. Let’s take it back to where you are now: how do you actually make it to early retirement? At the height of Chad Carson’s real estate investing career, he was working eighty-hour weeks flipping homes, buying rentals, and dreaming of a financial freedom-enabling portfolio. But when the market crashed, he took a step back and asked, “What do I really want?” Thus, the small and mighty investor mindset was born. Now, Chad is retired early in his forties, working just two hours per week and making six figures in passive income. Want to do it, too? Today, Chad discusses how you can build a small and mighty portfolio with fewer rentals, more cash flow, and ultimate time freedom. We’ll show you how to reverse engineer your goals to build the real estate portfolio you ACTUALLY want to own, why having hundreds of doors isn’t completely worth it, and the “metrics of success” you can use to measure your progress toward financial freedom. In This Episode We Cover: How to retire early (like Chad) with a small real estate portfolio  Why “door count” isn’t an accurate measure of success in real estate investing Reverse-engineering your financial freedom and how to start working toward it today Discovering your “why” and how NOT to get stuck in the day-to-day drudgery of adult life Measuring your progress toward financial freedom with the “metrics of success” Knowing when is “enough” and why winners know when to quit  And So Much More! Links from the Show Grab Chad’s Book, “The Small and Mighty Real Estate Investor” Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Craft Your Personal Real Estate Portfolio with “Start with Strategy” Property Manager Finder See Dave at BPCON2024 in Cancun! Who Cares About the Number of Doors You Have—Cash Flow Is What Actually Matters Chad's BiggerPockets Profile Dave's BiggerPockets Profile Door count is a terrible metric. Please stop using it. 00:00 Intro 01:56 You DON'T Need 100 Rentals 05:18 What Do You REALLY Want? 09:53 Why Work More? 14:04 Metrics of Success 23:36 Reverse Engineering Financial Freedom 26:42 Does Door Count Matter? 33:13 What is "Enough"? 37:20 The Dish Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1004 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices