40: 40 Quick Tips for Buying Your First (or Next) Investment Property

Today’s episode of the BiggerPockets Podcast is a little different than normal – in a great way. To celebrate the 40th episode of the Podcast, Brandon and Josh spend an hour sharing their top forty tips for buying your first – or next – investment property. These tips range from marketing to working with agents to investing with a full time job and a whole lot more. Whether you are brand new or are an experienced investor, a flipper, wholesaler, or buy and hold investor – these tips are going to help you build your business and close more deals, faster.
Read the transcript for episode 40 with Josh & Brandon here.
In This Show, We Cover:

Working with investor friendly agents

Finding and lining up financing

The 50%, 70%, 1%, and 2% rules

Tips for inspecting property

Finding deals that are “off market”

Direct mail tips and tricks

Negotiation Tips

Hiring property management

Investing in real estate with a full time job

and a whole lot more!

Special Thanks to This Week’s Sponsor
We just want to give a special shout-out to our very first sponsor ever here on the BiggerPockets Podcast – MemphisInvest.com. The team at MemphisInvest continues to provide incredible value to our community, so definitely take a minute to check them out if you are interested in turnkey rental property.
Visit them at Blog.MemphisInvest.com/BP
Links Mentioned in the Show:

BP Radio Podcast 001: Building a Successful House Flipping Business and Losing Millions with Marty Boardman

BP Podcast 011 : The Ultimate Beginner’s Podcast For Real Estate Investors

BP Podcast 006: Investing While Holding a Full Time Job with Arthur Garcia 

BP Podcast 037: Full Time Income, Part Time Lifestyle Real Estate Investing with Aaron Mazzrillo

BP Podcast 026: Building a Scalable Real Estate Business and Tenant Management Tips with Chris Clothier

The Real Estate Agent’s Ultimate Guide to Working with Investors – shortcode?

[Video] How I Quickly Analyze an Investment Property

The BiggerPockets Analysis and Reporting tools

The 50% Rule: How to Quickly Analyze a Multifamily Investment Property [Video]

Driving for Dollars Bible

YoureTheManNowDog.com

Property Management Interview Questionnaire 

BiggerPockets Deal Analysis Forum

Hard Money Lender Directory

MemphisInvest.com

EchoSign

Why YOU Should Organize a Local BiggerPockets Real Estate Meetup

8 Tips for Having a Local BP Meetup

Books Mentioned in the Show

No Time To Think: The Menace of Media Speed and the 24-hour News Cycle  by Howard Rosenberg and Charles S. Feldman

The Four Hour Workweek by Tim Ferriss

The E-Myth Revisited by Michael Gerber

Tweetable Topics

When dealing with home sellers, look for motivation and equity. (Tweet This!)

When analyzing property, don’t let emotion cloud your judgement. (Tweet This!)

You can build your reputation by being ‘that guy’ who brings everyone together. (Tweet This!)

Find investment niches and strategies that fit your lifestyle. (Tweet This!)

Create systems for your business so you are not the bottleneck in your business. (Tweet This!)

Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s episode of the BiggerPockets Podcast is a little different than normal – in a great way. To celebrate the 40th episode of the Podcast, Brandon and Josh spend an hour sharing their top forty tips for buying your first – or next – investment property. These tips range from marketing to working with agents to investing with a full time job and a whole lot more. Whether you are brand new or are an experienced investor, a flipper, wholesaler, or buy and hold investor – these tips are going to help you build your business and close more deals, faster.

Read the transcript for episode 40 with Josh & Brandon here.

In This Show, We Cover:

Working with investor friendly agents
Finding and lining up financing
The 50%, 70%, 1%, and 2% rules
Tips for inspecting property
Finding deals that are “off market”
Direct mail tips and tricks
Negotiation Tips
Hiring property management
Investing in real estate with a full time job
and a whole lot more!

Special Thanks to This Week’s Sponsor

We just want to give a special shout-out to our very first sponsor ever here on the BiggerPockets Podcast – MemphisInvest.com. The team at MemphisInvest continues to provide incredible value to our community, so definitely take a minute to check them out if you are interested in turnkey rental property.

Visit them at Blog.MemphisInvest.com/BP

Links Mentioned in the Show:

BP Radio Podcast 001: Building a Successful House Flipping Business and Losing Millions with Marty Boardman
BP Podcast 011 : The Ultimate Beginner’s Podcast For Real Estate Investors
BP Podcast 006: Investing While Holding a Full Time Job with Arthur Garcia 
BP Podcast 037: Full Time Income, Part Time Lifestyle Real Estate Investing with Aaron Mazzrillo
BP Podcast 026: Building a Scalable Real Estate Business and Tenant Management Tips with Chris Clothier

The Real Estate Agent’s Ultimate Guide to Working with Investors – shortcode?
[Video] How I Quickly Analyze an Investment Property
The BiggerPockets Analysis and Reporting tools
The 50% Rule: How to Quickly Analyze a Multifamily Investment Property [Video]
Driving for Dollars Bible
YoureTheManNowDog.com
Property Management Interview Questionnaire 
BiggerPockets Deal Analysis Forum
Hard Money Lender Directory
MemphisInvest.com
EchoSign
Why YOU Should Organize a Local BiggerPockets Real Estate Meetup
8 Tips for Having a Local BP Meetup

Books Mentioned in the Show

No Time To Think: The Menace of Media Speed and the 24-hour News Cycle  by Howard Rosenberg and Charles S. Feldman

The Four Hour Workweek by Tim Ferriss

The E-Myth Revisited by Michael Gerber

Tweetable Topics

When dealing with home sellers, look for motivation and equity. (Tweet This!)
When analyzing property, don’t let emotion cloud your judgement. (Tweet This!)
You can build your reputation by being ‘that guy’ who brings everyone together. (Tweet This!)
Find investment niches and strategies that fit your lifestyle. (Tweet This!)
Create systems for your business so you are not the bottleneck in your business. (Tweet This!)

Learn more about your ad choices. Visit megaphone.fm/adchoices