Show085: Determining the Calculation of Risk & Financial Ability To Buy Rental Property

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Calculating Risk and Financial Ability

It's show #4 of our week long podcast blitz bringing you some of the biggest questions, challenges and obstacles that are coming out of our awesome RentalRookie Community.

In this episode of the podcast, we were asked 'how do you calculate risk and determine financial ability'? Great topic and question for newbie investors wondering whether or not they can buy a rental property and just how much risk they should be thinking about when it comes to investing in this tangible asset of real estate.

One of the easiest ways to find off market properties, meaning non-MLS listed properties, is to simply pay attention when you're driving around your town, or walking your dog, or out for your run.  I'm an avid runner and while I'm out running I'm also scouting potential properties.  There have been many times I've stopped and taken a picture of a For Sale By Owner home sign.  You also can see what properties are distressed and look vacant if you keep an eye on them.

We share this and much more on finding off market properties.

 

 In the show we discuss:

=>how financial ability relates to down payment and reserves & the importance of cash

=>having cash is key when it comes to unexpected expenses

=>figuring out where your starting point is (i.e. extinguishing debt)

=>how real estate is an asset and while it is debt it can help you eliminate other 'bad debt'

=> and more...

Links Mentioned in the Show

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