Reverse Prospecting allows you to view a list of brokers with potential buyers for your listings. View this video to learn how to general the reverse prospecting results.
Discover the 8 steps needed to buy your next rental property in 90 days or less. Also, download a free one-page PDF to help you see the “big picture!”
I was sitting down for dinner with a friend the other night and he said to me “Brandon, I want to buy my first property but there is so much information out there. I just want to see the whole process, neatly outlined, so I know my step by step plan.”
And I thought “Isn’t’ that we all want when learning something new?
We want to see the whole picture, not just broken up parts.
Today I want to help you do just that — learn the step by step process for getting your first rental property in the next 90 days. For those of you who like something tangible to look at, at the end of this post I’ll show you where you can download a free 1-page PDF summary of this process- neat and clean, just like my buddy ordered.
Alright, let’s get started.
Step one: Get Pre-Approved.
Unless you plan on paying cash (which would be great) you are going to need a pre-approval letter from the bank or other lender.
We start with this step because I don’t want you wasting time only to find out you can’t afford it. Your lender will help you know exactly how much cash you’ll need.
Step Two: Get in Touch With a Real Estate Agent.
Don’t just call the name on the park bench by your house.
Look for an agent who is willing to spend the time needed to help you get the perfect deal.
Get recommendations from others and pick someone you get along great with.
The best part is, a real estate agent is paid by the seller- so it’s free for you to use one!
Step Three: Define What You are Looking For.
Let your agent know exactly what kind of property you are interested in. If it’s a duplex, you don’t want to waste time looking at single family homes. And vise versa.
Step Four: Start Looking
Yes, you’ll actually need to spend some afternoons with your real estate agent looking at potential properties. And like dating, the more you look at, the better you’ll recognize “The right one” when it comes along.
Don’t be afraid of looking at properties that might need a little TLC, but don’t get in over your head either. Once you find the right one, you’ll need to do Step Five, which is
Step Five: Do The Math
A rental property is only as strong as it’s math. (yes, you should Tweet that)
Run the numbers and make sure it pencils out. Be conservative, and be sure to plan for property management, vacancy, repairs, and more.
I’d recommend running the numbers through a good property analysis tool, like The BiggerPockets Rental Property Calculator to make sure you are looking at all the facts and figures.
Step Six: Make an Offer
Okay repeat after me:
I WILL NOT OVERPAY
Negotiate with the seller and stick to your math from step 5.
You might go back and forth a few times, and you might even lose the deal and have to start over. But whatever you do …
Do Not Overpay.
Soon enough you’ll get an offer accepted and you’ll be ready to move on to
Step Seven: Do Your Due Diligence
At this point, you want to make sure there are no hidden surprises at the property.
Hire a property inspector to walk through every inch of the property looking for potential problems.
If you find any, either :
suck it up if it’s not too bad,
ask the seller to fix it if it is bad,
and if it’s really bad — walk away.
During this time your agent will help you shuffle the correct paperwork between them, your lender, and your title company.
Step 8: Close on the Property
It’s been a journey, but finally you are ready to close.
You’ll show up to the Title Company (or attorney) and they’ll take care of the rest. You might even get some chocolate at the front desk! Once the title and deed are recorded at the county, you’ll get the keys and be the proud owner of your very own rental property!
Now comes the fun part — managing your properties. And for tips on that, you’ll have to wait for another blog post!
Screen Shot 2014-03-07 at 5.27.08 PMAs promised above, I created a simple 1-page PDF of these steps so you can print it out and hang it on your wall or just keep in your files. To get it, simply click the photo on the right and head over the BiggerPockets FilePlace and download it for free!
Finally, if you could do me two quick favors:
Share this video on your Facebook or Twitter account
Leave me a comment below. I love comments and would love to chat more about this stuff!
Delray Beach, Florida is a coastal town located in Palm Beach County just north of Boca Raton. Delray Beach has a vibrant downtown on Atlantic Avenue, white sand beaches, and luxury real estate for sale and rent.
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Exclusive Look at MANSIONS of the SUPER RICH on STAR ISLAND
Star Island is a highly exclusive neighborhood of South Beach in the city of Miami Beach on a man-made island in Biscayne Bay, Florida, United States. The island is south of the Venetian Islands and just east of Palm and Hibiscus islands.
Known for its waterfront lots and celebrity residents, Star Island real estate is a man-made island on South Beach that’s just a bridge away from the action. Initially developed by Carl Fisher in the 1920s, Star Island is accessible via the MacArthur Causeway.
Though guard-gated, the island is open to public access and contains a single, oval-shaped street aptly named “Star Island Drive”. Homes are all situated on waterfront lots, while beautiful Buoy Park runs along the interior of the island.
The owners of 42 Star Island, a couple featured on reality television show the “Real Housewives of Miami,” have opened their home, which the Historic Preservation Board of Miami Beach voted last week to attempt to preserve, to the Miami Herald in order to show that the mansion is not worth saving.
Leonard and Lisa Hochstein have already filed the necessary paperwork to move ahead with the demolition of the house, which they bought in a foreclosure auction last year, the Herald said.
The Hochsteins want to tear down the home and replace it with a new 14,000 square-foot mansion with a five-car garage, but the preservation board’s move to protect the home could imperil their plans. As it stands, the 1925 home is built in a “railroad” format, with no hallways between bedrooms, the Herald said. Star Island Billionaire Millionaire rich “super rich” mega wealth celebrity Monaco Russia Business private elite exclusive interior super rich Billionaire Saudi Arabia investor businessman CEO Forbes luxury Monaco elite exclusive” shaquille o’neal” “P diddy” “real estate” wealth Palace house home mansion yacht supercar wealthy “big boy toys” cash usd dubai money London Europe uk usa America “high end” expensive vip preview palm beach money “private jet” 2015 2014 2013 “get rich”. And even beyond the difficult room arrangement, the home is in disrepair, Leonard Hochstein said.
Celebrities who own or have owned homes on the island include Sean Combs, Gloria Estefan, Don Johnson, Rosie O’Donnell, and Shaquille O’Neal. Tour guides and realtors have made false claims of some other celebrities having homes on Star Island, such as Julio Iglesias, Madonna, Sylvester Stallone, and Elizabeth Taylor
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Simply contact your trusted Relocation Real Estate Advisor, Steve Wallace, and let him know whether you’re buying or selling a home in Connecticut, and you’ll even get a free local market analysis that will give you some exact data on home prices in your town or city. So, don’t delay, act today.
Get personal service, in your search for a top tier, Connecticut real estate agent and Connecticut realtor. Speak direct with your Relocation Real Estate advisor, Steve Wallace, Realtor. Steve looks forward to hearing from you, and learning whether you’re interested in selling your home, or buying a home. At Agentiers.com, we cover all cities and towns in Connecticut. We have top agents available by our personal referral, to assist you with the purchase or sale of a home. Don’t delay, act today.
Dial our home base, or relocation headquarters, providing real estate referrals in Connecticut and across the U S A. Dial, 843-540-4282, and speak direct with Steve. On your journey, to your next home, make your first move a call, to your Relocation Real Estate Advisor at Agentiers, Steve Wallace, Realtor.
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Find Agentiers on social media. Connect with your Relocation Real Estate Advisor, Steve Wallace, Realtor, for a referral to a top tier real estate agent in your town or city in Connecticut. Steve is at your service for real estate and area homes. Find Agentiers in all towns and states, no debate!
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Watch our Connecticut (CT) real estate video, “Top Tier Connecticut Real Estate Agents and CT Realtors” again:
Considering trying a For Sale By Owner (FSBO) on Zillow? Check out these tips to help increase your for sale by owner success rate and watch out for pit falls of doing a for sale by owner (FSBO). See more tips and like our FB Page: The Form 17 was mentioned as being extremely important in a real estate transaction, especially when selling for sale by owner – this is VERY true (among several other things). Please feel free to email or call me and I will gladly shoot you a copy. Also, if you would like some more tips on how to successfully sell your house as a For Sale By Owner (FSBO) on Zillow or by other means, I would be more than happy to provide you some complimentary information.
Email: [email protected]
To your success,
A special 2 acre lot for sale in the south part of Columbia County FL! Close to I75 and I10, this little property centrally located for total FL access!! Ideal spot for an RV pad to escape the long winters up north, give us a call for all the details on this amazing property!!
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Jon May Women’s Council Of Realtors.
This is a detailed video on how to use the New MLS portal you got from your Realtor. If you need a Realtor to help find you a home, reach out to me today!!! Roger Wright // Cell: (602) 643-9056 // Realtor at Century 21 // Email: [email protected]
This is a satire. The dumb dangerous things we can do. The spectators have no clue.Yes you can go low. How about 1 foot off the ground.That’s jet limbo for you!
THIS HAPPEN IN 1991 AT A PRIVATE AIRSHOW NEAR DALLAS. THE JET PILOTS LOST THEIR LICENSES. NOT SUPPOSE TO DO THIS WITH THE SPECTATORS STANDING NEXT TO RUNWAY PEOPLE NEARLY GET HIT. SCARES THE CRAP OUT OF PEOPLE. THIS VIDEO IS NOW A TRAINING VIDEO FOR THE FAA ON WHAT YOU DON’T DO AT AN AIRSHOW PUBLIC OR PRIVATE!
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Broker is William Davis Realty.
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In this segment of On Location, Coyote and the Brave Wilderness crew take on the bite from a specially trained K9 Malinois!
While it was all in good fun, these dogs have one seriously powerful bite force and are amazingly intelligent. Trained for various tasks, dogs like Maya do some of the most amazing work in todays law enforcement and are on the front line every day in an effort to keep people safe all across the world.
One thing is for sure, the Brave Wilderness crew have tremendous respect for these incredible dogs and their trainers. Thank you so much for what you do!
Get ready to witness a seriously Bad Bite from a K9 Attack!
HUGE THANKS to Makor K9 for making this video possible and for all the amazing work they do to train first class K9’s that help keep our world and our citizens safe. To learn more about their dogs and practices please visit –
Special thanks to Maya for spending the day practicing her amazing skills with us, you’re the best Maya!
Thank you for joining us On Location! In these segments you will get a behind the scenes look at all of the fun and exciting things Coyote and team experience on their adventures when they’re NOT encountering wildlife…or at least not by choice!
The Brave Wilderness Channel is your one stop connection to a wild world of adventure and amazing up close animal encounters!
Follow along with adventurer and animal expert Coyote Peterson and his crew as they lead you on three exciting expedition series – Breaking Trail, Dragon Tails and Coyote’s Backyard – featuring everything from Grizzly Bears and Crocodiles to Rattlesnakes and Tarantulas…each episode offers an opportunity to learn something new.
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Have you ever heard someone say I run my business
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In next week’s 14th secret, you’ll learn why most
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Tune in to this upcoming video and learn the secrets
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“CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.”
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– Southwest Florida Portrait, Wedding, Family and Real Estate Photographer.
Just because a posed is overused, does that mean you shouldn’t use it? What is it about the arms crossed pose that makes so many realtors choose this pose – I’ll be the first to admit it, the pose is overused, but in spite of that, I still think the pose looks great. What say you?