068 - Chandler & Mark Real Estate Series 3 - Out of State Investment Property/First Time Homebuyers

If you or anybody you know and love is looking to buy and/or sell real estate in the near future, please don't hesitate to reach out HERE with any questions!

Chandler and Mark Sheehan hit the jackpot for their first time buying a piece of property.... out of state.. for investment purposes only! These two really prove the point of that quote, "luck is where preparation meets opportunity."

In this episode, we discuss the advantages of buying their first investment property out of state in Florida while living in Jersey City.

We go in on how the TEAM Chandler and Mark worked with down in Florida was a major reason they ended up purchasing their first property out there. The fact that their agent believed in them and had a vetted team of reputable vendors had these two hone in on that area of Florida, versus all of the other US locations they were looking into at the time.

Lastly, speaking of time, we talk about how timing plays a massive role in your home search!

Links: @seasyourhome // @spirituallynutritious // Bigger Pockets

Google's Definitions:

Capital - "This refers to the money used to fund a real estate venture. This money could cover the costs of buying an investment property, initial renovations, and other extra costs. There are two main kinds of investment capital: equity and debt."

IRA - "An individual retirement account (IRA) is a tax-advantaged account that individuals use to save and invest for retirement."

Cash Flow - "In real estate, cash flow is the difference between a property's income and expenses including debts. Cash flow is used in properties that produce income, like rental real estate such as an apartment complex, single-family rental, duplex, or commercial building."

Rent Roll - "A rent roll is a report that provides detailed information about the property, the tenant, and rents. Rent rolls can be constructed for a single property or an entire rental property portfolio."

Capital Expenditures - "Capital expenditures are the money used to add to or improve a property beyond common repairs and maintenance. Capital expenditures are used for investment properties, equipment, and other fixed business assets. Many people refer to capital expenditures as capex.

Vacancy Rate - "The vacancy rate is the percentage of all available units in a rental property, such as a hotel or apartment complex, that are vacant or unoccupied at a particular time. A vacancy rate is the opposite of the occupancy rate, which is the percentage of units in a rental property that are occupied."

Equity - "Equity is the difference between the market value of your home and the amount you owe the lender who holds the mortgage. 1 Put simply, it's the amount of money you'd receive after paying off the mortgage if you were to sell the home."