BiggerPockets Podcast 200: A Step-by-Step Guide to Buying Your First Real Estate Investment
Welcome to the BiggerPockets Podcast show 200! We wanted to create a show that we could point people to in the future as an ultimate resource for building their real estate investment business. If you are new, this will give you a step-by-step plan. If you are experienced, it will help you systematize your business better and pick up new ideas to streamline how you buy properties. These tips were obtained from the community in a recent Forum thread Josh started.
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This Show is Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: Patch of Land. Patch of Land is a Peer-to-Real-Estate (“P2RE”) lending marketplace that matches accredited and institutional investors seeking high-yield, short-term, asset-collateralized investments to borrowers seeking more timely and consistent sources of funding for rehabbing properties across America.
Learn more by visiting Patch of Land!
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In This Episode We Cover:
- Gain Knowledge
- Get Your Life in Order
- Decide on What You Want With Your life
- Decide What Niche/Strategy is Going to Get You There
- Set Your Goal(s)
- Choose Your Farm Location
- Figure Out Your Financing
- Get Your Core Team Together
- Start Looking for Deals
- Estimate Rehab Budget
- Run the Numbers
- Review Your Numbers With Someone
- Make the Offer
- Negotiate and Get It Under Contract
- Manage the Due Diligence Process
- Keep Yourself Organized
- Buy the Property
- Manage the Property or Rehab
- Stick Close to BiggerPockets for Every Step of This process
Connect with Brandon and Josh