Calculating NOI for Real Estate and How to Start Investing with $70K (Rookie Reply)

Want to estimate your NOI (net operating income) BEFORE you buy a rental property? Calculating NOI in real estate isn’t hard, and after doing this dozens and dozens of times, we’re sharing how to estimate things like taxes, insurance, and maintenance costs so you know you’re buying a killer deal. Speaking of first deals, how much do you need to get started investing? $20K? $50K? $100K? A fellow rookie has $70K ready to invest but doesn’t know the next best move . We’re sharing exactly how they should start, and you can copy these steps no matter how much money you have. It wouldn’t be a Rookie Reply if we didn’t discuss tricky tenant situations . One investor has a tenant who is FED UP with a broken outlet. Sounds pretty reasonable, right? Well, the tenant is giving the landlord an unreasonable ultimatum . What should the investor do? Let the tenant take care of things on their own (and potentially damage the property) or put their foot down and follow the lease agreement ? Looking to invest? Need answers? Ask your question on the BiggerPockets Forums ! In This Episode We Cover: How to estimate your taxes , insurance , and maintenance costs before you buy a rental property The expenses that short-term rental investors always forget when running numbers How to respond to a tenant when they’re sending you unreasonable maintenance requests The first step you should take when deciding to invest in real estate How to get your first rental with just $70K (or less) and mistakes beginners make And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Real Estate Rookie YouTube BiggerPockets Agent Finder BiggerPockets Market Finder BiggerPockets Real Estate Investment Calculators Real Estate Market Analysis for Beginners | Rookie Resources Hug Your Haters NeighborhoodScout BrightInvestor Protect Your Properties with an LLC through Corporate Direct Analyze Rental Properties Faster with “Real Estate by the Numbers” Property Manager Finder How to Invest in Real Estate with $50K in 2024 (00:00) Intro (01:04) Calculating NOI (08:36) Estimating Maintenance Costs & Other Fees (11:48) Unreasonable Tenant Requests? (23:49) Start Investing with $70K Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-487 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com . Learn more about your ad choices. Visit megaphone.fm/adchoices