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257: Rookie to Real Estate Investor: Seller Financing, STR Markets, & Lowball Offers

257: Rookie to Real Estate Investor: Seller Financing, STR Markets, & Lowball Offers

FromReal Estate Rookie


257: Rookie to Real Estate Investor: Seller Financing, STR Markets, & Lowball Offers

FromReal Estate Rookie

ratings:
Length:
55 minutes
Released:
Feb 1, 2023
Format:
Podcast episode

Description

The “Rookie to Real Estate Investor in 90 Days” series is back, and we’re checking in with three mentees as they go from newbies to high-net-worth through real estate! Our mentees have been busy over the past couple of weeks, so Ashley and Tony dropped in on them to see how their rental property progress was going. They touch on how to make a lowball offer, pushing past the fear of getting an offer accepted, where to find motivated sellers, short-term rental markets, and seller financing Q&As.First up, Brandon joins us as the newest real estate rookie on the show. He’s yet to get his first deal done and is still looking to buy a property, but he’s finding that the price isn’t matching his profits. Ashley and Tony walk Brandon through how to make a lowball offer and why you should always submit a price that works for your numbers. Next, Lawrence shares how he’s been on the hunt for a seller-financed deal and is looking into new ways to find motivated sellers more likely to sell at a discount or with flexible terms.Finally, we hear from Melanie, who had a bit of property panic as she searched for more short-term rental markets to add to her list. After some research, she’s settled on a solid one and is currently looking for properties to make offers on. Her only question is how and why she should go for seller financing. Ashley and Tony give her all the details you’d need before going into a direct deal with the seller.In This Episode We CoverHow to make a lowball offer and why your price point should always reflect your profitsWhat to do when two offers get accepted (and how to fund both deals)Seller financing 101 and why (and why not) it’s worth pursuing for an investorHow to find motivated sellers in your market by looking through the MLSWhy you should ALWAYS send in offers (even if they seem unrealistic)Short-term rental markets and how to measure lead time when looking for dealsPromissory notes, how they work, and risks/benefits of signing one with a sellerAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramAirbnbAirDNABiggerPockets CalculatorBiggerPockets ForumsGoogle DriveLandWatchMLSPropStreamPriceLabsRabbuReal Estate Rookie Facebook GroupRookie to Real Estate Investor in 90 Days: LIVE Mentorship CallsZillow Connect with Brandon, Lawrence and Melanie:Brandon's BiggerPockets ProfileBrandon's InstagramLawrence's BiggerPockets ProfileLawrence's InstagramMelanie's BiggerPockets ProfileMelanie's LinkedInCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-257Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Feb 1, 2023
Format:
Podcast episode

Titles in the series (100)

Ready to build your real estate empire… but not sure where to begin?Think of us as your personal trainer.From detailed breakdowns of real-world deals… to one-on-one coaching sessions and a warm, welcoming community… hosts Ashley Kehr and Tony J Robinson bring on a wide range of guests to tackle the “newbie” questions you've wondered about but might be afraid to ask.Looking to 10X your real estate investing business this year? This show isn’t for you.Looking for your first, second, or third deal -- or envisioning a more modest portfolio? Step right up. Every Wednesday, we’ll arm you with the tips, tools, and roadmaps you'll need as you embark on your journey toward financial freedom.