709: Everything a New Investor Should Know BEFORE Closing on a Property w/Ashley Kehr
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!
In This Episode We Cover:
The pre-closing checklist and everything a new investor should do before they come to closing
Due diligence and how to ensure title work, home insurance, and taxes are ready
Renovation and rehab budgeting and how to build a scope of work even when investing out of state
Negotiating with a seller on both on and off-market deals and the pros/cons of using an agent
How to smoothly communicate with a seller or agent so you can get a deal done quicker (and with less stress)
Landlord insurance and how to find a policy that works for you before you close
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Books Mentioned in the Show
Long Distance Real Estate by David Greene
Real Estate Rookie by Ashley Kehr
You’re Not Listening by Kate Murphy
Hug Your Haters by Jay Baer
Connect with Ashley:
Ashley's BiggerPockets Profile
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-709
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