365: Rookie Reply: How to Analyze Deals Like a PRO (Use THESE Numbers & Tools)

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 8 February 2024

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

You could spend HOURS breaking down deals for cash flow, cash-on-cash return, return on investment, price-to-rent ratio, and countless other metrics. What do these terms mean, and which one is most important when analyzing rental properties? Today, we’ll show you how to streamline this process so you can check out MORE deals! In this Rookie Reply, you’ll learn how to analyze deals the right way, find off-market properties without spending a dime, and make offers on properties you haven’t seen. We also get into house hacking and why covering your mortgage payment isn’t necessary for a great deal. Finally, stick around until the end for the inside scoop on our hosts’ most recent ventures. Tony spills the beans on his first commercial property, while Ashley shares about the “pocket listing” she landed in the city! If you want Ashley and Tony to answer a real estate question, you can submit a question here, 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: The most important metrics to look at when analyzing a deal How to find off-market real estate deals for FREE How to make an offer on a property you haven’t seen Why you should house hack (even if it doesn’t cover your mortgage!) Tony’s UNIQUE commercial real estate investing experience and Ashley’s “pocket listing” gem And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Submit Your Real Estate Rookie Question! Apply to Be a Guest on the “Real Estate Rookie” Podcast Brush Up on Your Real Estate Terms The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties Ep #362: Rookie Reply: HELOCs Explained and How to Invest with BAD Credit Tools to Help You Analyze Deals: PropStream Invelo Privy LandGlide onX Hunt Book Mentioned in the Show The House Hacking Strategy by Craig Curelop Real Estate by the Numbers by J Scott & Dave Meyer Check the full show notes here: https://www.biggerpockets.com/blog/rookie-365 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

Transcript

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0:00.0	This is real estate rookie episode 365.
0:04.8	Today we are doing a rookie reply.
0:07.0	We're gonna be talking about house hacking
0:09.4	and if you have to pay some of your mortgage
0:11.8	when you're house hacking,
0:12.9	does that make it a big deal?
0:15.2	We're going to answer that question.
0:17.1	We're also going to talk about all those formulas
0:20.4	that you've seen thrown at you to analyze a deal and what's important and what matters and what those
0:26.0	formulas actually are. And then we're going to be talking about driving for dollars and making that phone call to actually
0:32.1	call a seller.
0:33.1	What do you say and how do you actually tell them a price
0:35.7	without seeing the property?
0:37.0	I'm Ashley Care and I am joined by my co-host Tony J Robinson.
0:41.6	And welcome to the Real Estate Ricky podcast
0:44.0	where every week, twice a week,
0:45.9	we bring you the inspiration, motivation, and stories
0:49.1	you need to hear to kick-start your investing journey.
0:50.9	And we're gonna jump right into this first question because it is a great one and it is all about Ashley's biggest fear which is talking directly to settlers. So let's jump into this first question.
0:59.4	All right, so today's first question comes from Stephen C. Stephen says, what's up everyone? I'm in Dallas, Texas.
1:06.4	I've been out driving for dollars and I have a list of about 40 houses.
1:10.4	I've already looked up owners and numbers on the county websites for the owners.
	...

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