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