How important is the real estate market you’re investing in? You could be searching for deals for months, not finding anything worth buying, and may want to call it quits. But are you following the same steps that expert investors practice, or are you hoping a new housing market will magically give you the deals you need? If you’re struggling to find property with a profit in your housing market, today’s episode will help you out!
Welcome back to another Rookie Reply! In this episode, we tackle a handful of key topics—including when it makes sense to buy a property on your own and when to find a partner instead. Tony even shares about his own recent experience with partnerships and how he ended up pulling out of a deal that was headed towards a syndication! We also discuss the differences between real estate investing and REITs, as well as moving on from markets when you aren’t finding deals. Finally, we talk about inheriting tenants and when it’s better to buy a fully vacant property instead!
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Ashley Kehr:
This is Real Estate Rookie, episode 282.
Tony Robinson:
What I tell people that are just starting out is give yourself 90 days. 90 days, analyze 100 deals, and if you can analyze 100 deals over 90 days, you’ll know without a shadow of a doubt whether or not that market is a good market or not. So there has to be a certain threshold that you hit, I think, before you rule a market out. And a lot of it just comes with grinding it out, analyzing the deals and doing the hard work to make it happen.
Ashley Kehr:
My name is Ashley Kehr, and I’m here with my co-host, Tony Robinson.
Tony Robinson:
And welcome to the Real Estate Rookie podcast, where every week, twice a week we’ll bring you the inspiration, motivation, and stories you need to hear to kickstart your investing journey. And…