Thing You Don't Ask... Because You Don't Know To Ask Them
Hello Everyone,
I've been reading and collecting information to get involved in Real Estate I'd like to buy my first rental in the next 90 days. So I've been working with my Real Estate Agent (Also an Investor 10+ Years / 12+ Doors) and we chatted on the phone.
He asked, what is my Plan/Goals going into Real Estate do I have them written down, what do I want to accomplish this year?
-- I let him know what I was going for and he critiqued and provided positive feedback of why not consider doing X,Y,Z.
We are meeting up again on Tuesday for lunch and I'm compiling a list of Questions, both to get feedback and I want to put together a list of questions anyone would want to ask if they were a new investor getting into real estate.
Now I have a basic list of questions to ask, but because I've never really thought/considered/known much about RE I don't know what to really ask, any seasoned investors remember their beginning and some questions you wish you had asked or learned of before jumping on your first deal?
Some questions include.
1. How do you target a specific area to invest in ( Population, Job Growth, Unemployment, Vacancies, Etc )
2. How much does a property have to appraise at to get financing. (I want to Buy/Rehab/Appraise/Rent - ~6 months out refinance my original money in out of it and leave 20% (Equity) in collecting "Some cash flow" and repeat the process.
3. If your researching a new market what is a good way to get information on the area (Call PM - Ask them what 2/1 3/1 Rent For, Vacancies, Are fees based on Rent or Flat Fee, Etc).
4.
Reply below and I'll add it to my List, I meet with him next week so I'll give a run down on what we discuss and notes.
Thanks,