Let’s say you’ve got $40,000 to invest. You could split the money into two down payments and buy more properties or partner with someone with money and build a bigger real estate portfolio. But even though you CAN do this, it might be a better idea to stay a small investor. Why? We’re talking about it in this episode, along with some of the regrets we have from scaling far too fast.
Welcome back to another Rookie Reply! Today, we’re showing you how to run real estate “comps” to find the right rent and asking prices for properties, plus whether or not your new rental will have enough demand to stay occupied. We’ll also discuss when a house is TOO big to house hack and how to find tenants for a rent-by-the-room investing strategy. Finally, can you buy more than one rental a year? Yes! But be careful, doing this could put you in a dangerous spot (we’ll explain why).
Ashley:
Okay, let’s get your questions answered. I’m Ashley Kehr and I’m here with Tony j Robinson,
Tony:
And welcome to the Real Estate Rookie Podcast where every week, three times a week, we bring you the inspiration, motivation, and stories you need to hear to kickstart your investing journey. And today we’re diving back into the BiggerPockets forums to get your questions answered. And guys, if you’re listening to the Real Estate Rookie podcast, just know the BiggerPockets forms are actually the best place for you to quickly get all of your real estate investing questions answered by tons of other real estate experts. So today we’re going to discuss how to pull comps when you’re analyzing your first deal, how to determine how much capital you actually need to get started and ways to transition out of your first house hack.
Ashley:
Okay, so let’s get into our first question. This question says, hi everyone. I’m looking to buy my first long-term investment property, and I’m not sure whether I’m approaching my research for rental comps correctly. Please give me any…
