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

In This Article

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.

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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!)

 

 

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.