Buying a rental property in another city, county, or state? Then, you’re going to need boots on the ground in that market to help find, fix, and manage your investment property. How do you make sure you’ve got the right people in place from many miles away? We’ve got the tips you need in today’s episode!
Welcome to another Rookie Reply! Tony and Ashley are back with three more questions from the BiggerPockets Forums, the first of which comes from an investor who’s struggling to find meaningful cash flow in their market. Should they hold out for that “home-run deal” or settle for something less if it means getting that first property under their belt? Next, we’ll hear from someone who has enough money to buy a primary home or an investment property. We’ll weigh both options and even share an investing strategy that allows you to have both!
Finally, if you’re investing out of state, you’ll need a team of trusted experts in that market. But finding these people is easier said than done. Stick around as we share where to look, questions to ask, and some red flags to avoid at all costs!
Ashley:
What if the cashflow number you’re chasing is actually holding you back from getting your first deal? Today we’re breaking down the real math behind minimum cashflow, why it matters and when it doesn’t.
Tony:
We’ve also got a question that stops a lot of rookies in their tracks, should you buy an investment property before you buy your primary home? Plus, we’ll tackle how to build a rock solid out-of-state investing team when you’re totally brand new.
Ashley:
This is the Real Estate Rookie podcast. I’m Ashley Kehr.
Tony:
And I’m Tony j Robinson. And with that, let’s get into today’s first question. Alright, today’s first question comes from John in the BiggerPockets form and John says, as the market is changing and I’m seeing in my market that more houses are producing lower cashflow, what would be your minimum cashflow that you’d like…