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263: Rookie to Real Estate Investor: House Offer Accepted! Now What?

263: Rookie to Real Estate Investor: House Offer Accepted! Now What?

FromReal Estate Rookie


263: Rookie to Real Estate Investor: House Offer Accepted! Now What?

FromReal Estate Rookie

ratings:
Length:
64 minutes
Released:
Feb 22, 2023
Format:
Podcast episode

Description

Offer accepted! Now what? As a rookie real estate investor, it can be anxiety-inducing to hear that a seller accepts your house offer. You’ve been working so hard to get up to this point, and now, you’re one step closer to closing on your first rental property. But what happens next? Are there steps that you should be following? And what should you be doing in the meantime as your closing date starts to creep closer and closer? If you’re in this situation (or are about to be), stick around!We’re back with our “Rookie to Real Estate Investor in 90 Days” series, as our mentees join us for some exciting news. Last time around, much of the advice from Ashley and Tony was “make more offers!” Well, the mentees have delivered, so much so that one of our rookies already has a house under contract just a month or so after starting this series! We first talk to Melanie, who began submitting short-term rental offers in Savannah, Georgia. She’s got some solid takeaways but is having trouble finding someone who will accept seller financing.Next, Brandon hops on as the first rookie to get a property under contract! With only a few offers sent out, Brandon has already agreed with a seller on terms but has questions about when to get a home inspection and whether title insurance is worth it. Finally, Lawrence joins us with a copy of Ashley’s newest book, Real Estate Rookie: 90 Days to Your First Investment. Lawrence has been making aggressive offers but couldn’t match a seller’s counteroffer with high-interest rate financing terms. All our rookies are inches away from getting their first (or next) rental property, and this could be the most pivotal point!In This Episode We CoverHow to make an aggressive offer on a house and negotiating with a sellerShort-term rental data and how to use tools like AirDNA to find occupancy ratesWhat to do once you’re under contract for a new rental propertyHome inspections and when it’s worth waiving one (plus when you DEFINITELY should get one done)Title insurance vs. an attorney's opinion and which one is a better betSeller financing and how to find the perfect terms a seller will acceptHow to target motivated sellers to find better real estate deals at lower pricesAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramAirbnbAirDNABiggerPockets Rental Property CalculatorData.rabbuPriceLabsReal Estate Rookie Facebook GroupReal Estate Rookie PodcastConnect 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-263Interested 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 22, 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.