40: 40 Quick Tips for Buying Your First (or Next) Investment Property

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 17 October 2013

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

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!) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pockets Podcast, Show 40.
0:03.2	You're listening to Bigger Pockets Radio,
0:06.2	simplifying real estate for investors large and small.
0:09.9	If you're here looking to learn about real estate investing, without all the hype, you're in the right place.
0:15.8	Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:21.8	Your home for real estate investing online.
0:25.0	What's going on everybody?
0:26.0	This is Josh Dorkin, host of the BiggerPockets
0:28.6	podcast here with Brandon Turner, as always.
0:31.6	What's up, Brandon?
0:32.4	What's up, Josh's up Josh things are good things are good I'm doing well doing well I know you asked I know you asked I know you asked I I always do don't I today is the over-the-hill though, so it's more important than you or I.
0:45.8	It is, it is, and you know, I'm getting close to being over the hill, I'm approaching 40 and
0:51.8	I'm approaching the hill, but're you're approaching the foothills my friend
0:56.5	You are a young young guy who's got a long ways to go
1:00.9	Long ways. Yes, yes, yes.
1:03.0	Yes, anyway, so this is our our 40th episode and we've done some amazing shows man.
1:08.5	I mean our first show with with Marty Boardman was especially exciting, you know, kicking the thing off and then we did the ultimate beginner show which was just you and I.
1:18.5	I think our most popular show so far was probably Arthur Garcia's show about what was it working a full-time job?
1:27.5	And I think we're actually going to cover that again today as well.
1:30.4	We are we are and then I think what Aaron Maserillos was was probably the second most popular show
1:35.7	Yep that we've done but yeah, you know we want to we want to thank first of all everybody who's who's been a guest on our show so far
1:42.3	We we really appreciate the time and energy
	...

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