358: Rookie Reply: Loan Pre-Approvals & Picking an Out-of-State Investing Market

Out-of-state investing is a great option if you’re looking to venture beyond your backyard, but finding the perfect market can be a challenge. Not to worry—our hosts have been in your shoes before and are here to help you navigate this big decision! Welcome back to another Rookie Reply! In this episode, Tony and Ashley offer their best tips, tricks, and tools for choosing a real estate market. They also get into the nitty-gritty of the mortgage pre-approval process. What is a pre-approval, when should you get one, and does it affect your credit score? Stay tuned to find out! Next, they discuss holding costs, including some of the different ways to fund these expenses. Finally, they talk about security cameras, and Tony even shares two instances when they helped save the day on his properties! 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). In This Episode We Cover: Finding the perfect market for investing out-of-state When to start the pre-approval process for a new home loan How to pay for holding costs (and which lenders will fund them!) How to land the IDEAL loan for your real estate niche When to install security cameras across your rental properties And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount Sign Up for the Real Estate Investing Virtual Summit Your Step-by-Step Guide to Buying Out-of-State Investment Properties Looking to Invest Out-of-State? Here’s How to Pick and Analyze a City Tools to Help You Find Your Market: NeighborhoodScout BrightInvestor Check the full show notes here: https://www.biggerpockets.com/blog/rookie-358 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: [email protected] Learn more about your ad choices. Visit megaphone.fm/adchoices