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Passive Real Estate Investing

Ask Marco – Making the Leap, Due Diligence, The First Step | PREI 019

Passive Real Estate Investing

Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.

Education, Business, Investing, Entrepreneurship, How To, Business:investing

4.6968 Ratings

🗓️ 29 September 2015

⏱️ 15 minutes

🧾️ Download transcript

Summary

In this episode of “Ask Marco” we answer some listener questions. Here is the actual email text: Hello Marco, I’m looking to purchase my first investment property sooner rather than later. I’ve been reading tons of books, blogs, and and listening to podcasts incessantly for the past couple of months, including the Passive Real Estate Investing Podcast (which is a great podcast. Thank you!) I live in NYC which has way too high an entrance cost into the market. Having lived in Portland Or for 9 years, I know the areas and market. It has a much lower entrance cost than NYC. But, I feel it’s kind of at the top end of a boom and I would still need to save for about a year for down payment money. Being a fan of your podcast I decided to look into Norada and was kind of blown away at how accessible rental properties are in other markets. I got excited at the prospect of being able to acquire multiple properties within a year. So, I guess my first question is addressing my lack of knowledge about these cities. I know NYC and Portland. I’m not too familiar with, say, Kansas City or Dallas and I’m uncertain of exactly what I’d be buying. This is my biggest source of uncertainty. Second, I love that Norada has a lot of the due diligence right there for each property. But, in the spirit of “trust but verify,” what research would you recommend I put forward beyond the wonderful data provided? And lastly, say I saw a property you have on Norada and decided it was what I wanted to purchase.  What would the first steps be? Thank you for your time and help, Robert F. – – – – – – – – – – – – – – Download your FREE copy of: The Ultimate Guide to Passive Real Estate Investing. Get your FREE coffee mug by leaving us a Rating and Review on iTunes. Here’s how. See our available Turnkey Cash-Flow Rental Properties. Please give us a RATING & REVIEW (Thank you!) SUBSCRIBE on iTunes | Stitcher | Podcast Feed Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome to passive real estate investing the show where busy people like you

0:04.7

learn how to build substantial passive income while creating wealth for the

0:08.7

long term and now here's your host Marco Santorelli.

0:13.4

Welcome to passive real estate investing.

0:15.7

I'm your host Marco Santorelli.

0:18.2

And in today's episode, I want to do an Ask Marco episode

0:22.1

because we get questions from investors throughout the week, every week,

0:27.7

via email and voicemail and through our online voicemail recorder on our websites. And sometimes we get some really

0:34.9

great questions that I know other investors are thinking about. Other

0:38.5

investors are probably asking, but maybe not coming right out and asking us about it. So on this episode I wanted to go

0:46.1

over a recent email that I got from an investor yesterday. His name is Robert and he has three questions in his email that I think are excellent to cover in a

0:56.5

dedicated podcast episode.

0:59.0

So Robert from New York, his subject is question about making the leap into real estate investing.

1:04.8

And his message is, hello Marco, I'm looking to purchase my first investment property

1:10.0

sooner rather than later. I've been reading tons of books, blogs, and I've listened to

1:15.0

podcasts incessantly for the past couple of months, including the passive real estate

1:19.6

investing podcast, which is a great podcast, thank you. I live in New York City, which has way too high

1:25.9

an entrance cost into the market. Having lived in Portland, Oregon for nine years, I know the areas

1:31.3

and market. It has a much lower entrance cost in New York City, but I feel it's kind of at the top end of a boom and would need to still save for about a year for down payment money.

1:43.0

Being a fan of your podcast, I decided to look into Noretta

1:47.0

and was kind of blown away at how accessible rental properties are in other markets.

1:51.0

I got excited at the prospect of being able to acquire multiple

...

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