5 Things You Can’t Afford to Get Wrong When Analyzing Deals (Rookie Reply)

Anyone can analyze a rental property, but if you’re not careful, it’s easy to overlook significant costs that wipe out your cash flow and put you in the red. Thankfully, we’ve got some timely tips that will help you avoid these critical mistakes! Welcome to another Rookie Reply! Ashley and Tony are back with more questions from the BiggerPockets Forums and BiggerPockets Facebook groups. Worried that your “good” real estate deal might not be a good deal after all? We’ll show you some of the things you must account for before you buy! Next, we’ll discuss the ins and outs of real estate partnerships. Whose name should go on the mortgage? How do you ensure that both parties own the property? We have the answers! Finally, how do you make an offer on a property you haven’t seen? What if you receive a low appraisal? We’ll show you how to find “boots on the ground” in any market, renegotiate with the seller, and close on your property for a great price! Looking to invest? Need answers? Ask your question here! In This Episode We Cover: Costs you must account for when analyzing a rental property The biggest pros and cons of turnkey real estate investing How to properly budget for capital expenditures, maintenance, and repairs Why you need a five-year exit plan when structuring a partnership How to find “boots on the ground” when investing out of state Renegotiating with the seller after receiving a low appraisal And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPockets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube Follow Real Estate Rookie on Instagram Ask Your Question for a Future Rookie Reply “Like” Real Estate Rookie on Facebook BiggerPockets Calculators Grab Our Book, “Real Estate Partnerships” Sign Up for the Real Estate Rookie Newsletter Find Investor-Friendly Lenders Real Estate Rookie 326 - The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals (00:00) Intro (00:18) Good or Bad Deal? (07:31) Structuring Partnerships (17:32) Making Offers (Out of State!) (28:25) Ask Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-538 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].  Learn more about your ad choices. Visit megaphone.fm/adchoices