Before buying a rental property, real estate investing can seem scary. Only experienced landlords know how to deal with closing delays, overbudget rehabs, and tenant issues. But that doesn’t mean you have to come in blind on your first real estate investment. If you have the proper knowledge, expectations, and systems set up, you can build a real estate portfolio faster than the rest, which is what Ashley Kehr, author of Real Estate Rookie: 90 Days To Your First Investment, did.

Ashley hosts the Real Estate Rookie Podcast, where she interviews new investors who have had one or a few successful deals. She’s seen what it takes for someone to go from bystander to investor and wants to make sure you can purchase your first investment property too. On today’s show, Ashley walks through her pre-closing checklist, where she details everything from due diligence to budgeting renovations and rehabs, how to negotiate with sellers, where to find insurance and more.

This is just a brief glimpse at everything you can find in Ashley’s new book, and combining these golden nuggets with what is shared in Real Estate Rookie will get you on a faster path to landlord life and passive income. So, if you’ve been waiting to invest or feeling like you don’t know what you don’t know, this may be the perfect episode to start. Tune in, grab the new book, and get ready to make some property purchases in 2023!

In This Episode We Cover:

The pre-closing checklist and everything a new investor should do before they come to closing

Due diligence and how to ensure title work, home insurance, and taxes are ready

Renovation and rehab budgeting and how to build a scope of work even when investing out of state

Negotiating with a seller on both on and off-market deals and the pros/cons of using an agent

How to smoothly communicate with a seller or agent so you can get a deal done quicker (and with less stress)

Landlord insurance and how to find a policy that works for you before you close

And So Much More!

Links from the Show

Find an Investor-Friendly Real Estate Agent

BiggerPockets Youtube Channel

BiggerPockets Forums

BiggerPockets Pro Membership

BiggerPockets Bookstore

BiggerPockets Bootcamps

BiggerPockets Podcast

BiggerPockets Merch

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts

Get More Deals Done with The BiggerPockets Investing Tools

Find a BiggerPockets Real Estate Meetup in Your Area

David's BiggerPockets Profile

David's Instagram

David’s YouTube Channel

Real Estate Rookie Podcast

Books Mentioned in the Show

Long Distance Real Estate by David Greene

Real Estate Rookie by Ashley Kehr

You’re Not Listening by Kate Murphy

Hug Your Haters by Jay Baer

Connect with Ashley:

Ashley's BiggerPockets Profile

Ashley's Instagram

Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-709

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709: Everything a New Investor Should Know BEFORE Closing on a Property w/Ashley Kehr 01:00:54 Share

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709: Everything a New Investor Should Know BEFORE Closing on a Property w/Ashley Kehr