If you’re about to buy your first rental property, or are buying another, hear this.
In today’s market, investors are growing more nervous before making a down payment on a property. That could be tens, or even hundreds of thousands of dollars you’ve worked for, and putting it in the wrong rental could set you back years to financial freedom.
But if it’s the right property, you could fast-track your independence. So, how do you know which one is which?
In this episode, Henry and I are sharing the “stress-tests” to perform before you buy a rental—if it doesn’t pass, we won’t buy the property, no matter how good the deal “looks”.
But that’s not all, we’re answering other questions from the BiggerPockets Forums about how much money you should have in the bank before you BRRRR (buy, rehab, rent, refinance, repeat), how to get around the hardest part of managing rental properties, and whether lowering rent is worth it for a great tenant (not so straightforward).
In This Episode We Cover
The “stress tests” we perform before we buy any rental property (you should, too)
Feeling nervous before buying your first rental? Here’s why you’re not alone
Lowering rent for a long-term tenant: Is sacrificing cash flow worth it for peace of mind?
How much money should you have before you BRRRR (buy, rehab, rent, refinance, repeat) an investment property?
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1283.
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