40: 40 Quick Tips for Buying Your First (or Next) Investment Property
Today’s episode of the BiggerPockets Podcast is a little different than normal – in a great way. To celebrate the 40th episode of the Podcast, Brandon and Josh spend an hour sharing their top forty tips for buying your first – or next – investment property. These tips range from marketing to working with agents to investing with a full time job and a whole lot more. Whether you are brand new or are an experienced investor, a flipper, wholesaler, or buy and hold investor – these tips are going to help you build your business and close more deals, faster.
Read the transcript for episode 40 with Josh & Brandon here.
In This Show, We Cover:
- Working with investor friendly agents
- Finding and lining up financing
- The 50%, 70%, 1%, and 2% rules
- Tips for inspecting property
- Finding deals that are “off market”
- Direct mail tips and tricks
- Negotiation Tips
- Hiring property management
- Investing in real estate with a full time job
- and a whole lot more!
Special Thanks to This Week’s Sponsor
We just want to give a special shout-out to our very first sponsor ever here on the BiggerPockets Podcast – MemphisInvest.com. The team at MemphisInvest continues to provide incredible value to our community, so definitely take a minute to check them out if you are interested in turnkey rental property.
Visit them at Blog.MemphisInvest.com/BP
Links Mentioned in the Show:
- BP Radio Podcast 001: Building a Successful House Flipping Business and Losing Millions with Marty Boardman
- BP Podcast 011 : The Ultimate Beginner’s Podcast For Real Estate Investors
- BP Podcast 006: Investing While Holding a Full Time Job with Arthur Garcia
- BP Podcast 037: Full Time Income, Part Time Lifestyle Real Estate Investing with Aaron Mazzrillo
- BP Podcast 026: Building a Scalable Real Estate Business and Tenant Management Tips with Chris Clothier
- The Real Estate Agent’s Ultimate Guide to Working with Investors – shortcode?
- [Video] How I Quickly Analyze an Investment Property
- The BiggerPockets Analysis and Reporting tools
- The 50% Rule: How to Quickly Analyze a Multifamily Investment Property [Video]
- Driving for Dollars Bible
- YoureTheManNowDog.com
- Property Management Interview Questionnaire
- BiggerPockets Deal Analysis Forum
- Hard Money Lender Directory
- MemphisInvest.com
- EchoSign
- Why YOU Should Organize a Local BiggerPockets Real Estate Meetup
- 8 Tips for Having a Local BP Meetup
Books Mentioned in the Show
- No Time To Think: The Menace of Media Speed and the 24-hour News Cycle by Howard Rosenberg and Charles S. Feldman
- The Four Hour Workweek by Tim Ferriss
- The E-Myth Revisited by Michael Gerber
Tweetable Topics
- When dealing with home sellers, look for motivation and equity. (Tweet This!)
- When analyzing property, don’t let emotion cloud your judgement. (Tweet This!)
- You can build your reputation by being ‘that guy’ who brings everyone together. (Tweet This!)
- Find investment niches and strategies that fit your lifestyle. (Tweet This!)
- Create systems for your business so you are not the bottleneck in your business. (Tweet This!)
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