793: How to Analyze a Rental Property as a COMPLETE Beginner

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 18 July 2023

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

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Summary

Don’t know how to analyze a rental property? After this episode, you’ll be a rental property analysis pro, knowing exactly how much money you’ll make on your first, second, or next real estate investment. But don’t worry; you won’t need any complex formulas, dense spreadsheets, or complicated math to calculate how much cash flow you’ll collect from your real estate deal. Instead, you can use the EXACT methods we show to analyze investment properties in minutes, EVEN if you’re a real estate rookie! Wait? Did David and Rob morph into the queen of upstate real estate, Ashley Kehr, and short-term rental/skincare expert, Tony Robinson? Fortunately, David and Rob are safe and sound, and in this episode, Ashley and Tony from the Real Estate Rookie podcast will teach you EXACTLY how to analyze real estate deals in 2023. From long-term to short-term rentals, BRRRR properties, and choosing your real estate market, Ashley and Tony will go through everything you need to ensure your first or next real estate deal is a home run. Our hosts will go step-by-step through analyzing a real estate investing market, signs of one you should invest in, building your “buy box,” analyzing a long-term, short-term, and BRRRR investment property, and how the 2023 housing market has changed. If you’re still waiting to get a rental property under contract, this is the place to start! In This Episode We Cover: How to analyze a rental property, short-term rental, or BRRRR investment from scratch 2023 housing market updates and what you MUST know before buying Using the BiggerPockets rental property calculators to analyze properties in minutes Where to find insurance prices, property taxes, and other KEY variables The three things you MUST know before analyzing an Airbnb or vacation rental Financing your real estate deal and rental property loans you can use to purchase an investment property! And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch BPCON2023 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 Ask David Your Real Estate Investing Question Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram BiggerPockets Calculators Used in This Episode: Rental Property BRRRR Rent Estimator Tune into The “Real Estate Rookie” Podcast: Podcast YouTube Grab Tony’s Short-Term Rental Calculator BrightInvestor NeighborhoodScout Policygenius PriceLabs Propstream Investor Shout-Outs: Amy Mahjoory Lattes and Leases Zosia Madden (Rookie Ep 301) Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-793 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 Rook.
0:02.7	Oh wait, Tony, this is a takeover.
0:05.5	We're on the Real Estate Podcast episode number 793.
0:13.5	Before you even think about your market, think about what your goals are as a Real Estate investor.
0:17.5	If your goal is to leave your job as fast as humanly possible,
0:21.1	appreciation itself isn't really going to help you.
0:23.0	Tax benefits, per se, aren't really going to help you as much, right?
0:25.9	If you want cash or you want profits.
0:27.5	So I think think about what your goal is, what your strategy is,
0:30.0	and that kind of helps you identify what market you should be going into,
0:33.5	what strategy you should be going into.
0:35.5	My name is Ashley Care, and I'm here with my co-host, Tony Robinson.
0:40.5	And we're super excited to be taking over the feed today,
0:43.0	because Ash and I feel like we're getting called into the big leagues a little bit.
0:47.0	But I guess we can start with a little quick tip.
0:50.0	Or I think David Green does it with like a Batman voice now.
0:54.0	He goes like quick tip for some of life. Anyway, quick tip for today.
0:58.5	If you guys aren't yet aware, bigger pockets has a bunch of free resources
1:03.0	and premium resources as well.
1:04.5	But you can sign up for free at bigger pockets,
1:07.0	and you get five calculator uses to help you analyze deals,
1:10.5	which ties in perfectly with today's episode about dual analysis.
	...

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