How to Find the Perfect Rental Market & Rare Pre Foreclosure Deals

Episode #338

Finding an investment property in pre foreclosure can feel like uncovering a diamond in the rough, as the seller may be more motivated to get a deal done faster and for less. However, there’s one crucial thing you should be aware of BEFORE you take action on your end. Hint: you could pay a few extra costs to score a RARE deal!

Welcome back to another Rookie Reply! In this episode, Ashley and Tony talk about buying properties in pre foreclosure—including when it makes sense to buy a property “subject to.” They also go over the most important data points to analyze when choosing your market, as well as how to avoid jumping the gun when listing a new property for rent. Finally, home renovation projects can be tricky when you’re an out-of-state investor. Our hosts share how they purchase materials, as well as their go-to investing hack that will save you a fortune!

If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).

~~~~
Join BiggerPockets for FREE:
https://www.biggerpockets.com/signup?utm_source=owned_media
~~~~
Join the Real Estate Rookie Facebook Group:
https://www.facebook.com/groups/realestaterookie
~~~~
Find an Investor-Friendly Agent in Your Area:
http://biggerpockets.com/agentmatch
~~~~
Find Investor-Friendly Lenders:
http://biggerpockets.com/findlenders
~~~~
Submit Your Real Estate Rookie Question!
https://www.biggerpockets.com/reply?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
18 Deals in 2 Years AND a Full Time Job with Kevin Christianson:
https://www.biggerpockets.com/blog/rookie-podcast-51-kevin-christensen?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
How to Buy a Foreclosed Home: Guide for Finding Deals:
https://www.biggerpockets.com/blog/2013-03-22-how-to-buy-a-foreclosure?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
BEFORE You Buy: How to Know Your Market (and Property) Will Make It in 2023:
https://www.biggerpockets.com/blog/real-estate-q3-1?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Check Property Liens with PropStream:
https://propstream.com/bp
~~~~
Perform All of Your Market Research in ONE Place:
BrightInvestor: https://brightinvestor.com
NeighborhoodScout: https://neighborhoodscout.com
~~~~
Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Shoot Ashley and Tony a Question on Instagram!
@wealthfromrentals or https://www.instagram.com/wealthfromrentals/
@tonyjrobinson or https://www.instagram.com/tonyjrobinson/

Show notes at: https://www.biggerpockets.com/blog/rookie-338?utm_source=youtube&utm_medium=description&utm_campaign=none


00:00 Intro

02:58 Finding the IDEAL Market

13:09 How to Buy Materials Out-of-State

23:56 How SOON Can You List a Rental?

32:30 Buying a Property in Preforeclosure

42:57 Send Us Your Question!