How to Comp Rent/Home Prices and Why Going SMALL May Make You More (Rookie Reply)

Let’s say you’ve got $40,000 to invest. You could split the money into two down payments and buy more properties or partner with someone with money and build a bigger real estate portfolio. But even though you CAN do this, it might be a better idea to stay a small investor. Why? We’re talking about it in this episode, along with some of the regrets we have from scaling far too fast. Welcome back to another Rookie Reply! Today, we’re showing you how to run real estate “comps” to find the right rent and asking prices for properties, plus whether or not your new rental will have enough demand to stay occupied. We’ll also discuss when a house is TOO big to house hack and how to find tenants for a rent-by-the-room investing strategy. Finally, can you buy more than one rental a year? Yes! But be careful, doing this could put you in a dangerous spot (we’ll explain why).  Looking to invest? Need answers? Ask your question on the BiggerPockets Forums! In This Episode We Cover: How to run “comps” in real estate and estimate rent prices accurately  Whether or not a neighborhood is worth investing in with many units for rent already  Why you may NOT need to buy a huge house for house hacking  Finding tenants when using the rent-by-the-room investing strategy  How to build a real estate portfolio with $30,000 - $40,000  And So Much More! Links from the Show Ashley's BiggerPockets Profile Tony's BiggerPokckets Profile Join BiggerPockets for FREE Real Estate Rookie Facebook Group Try the BiggerPockets Rent Estimator Ask Your Question on the BiggerPockets Forums Learn the Real Estate Formulas with “Real Estate by the Numbers” Find Investor-Friendly Lenders Real Estate Rookie 287 - From 70 Hour/Week Burnout to Getting Paid to Buy Properties w/Danielle Daly (00:00) Intro (00:44) Comping Rent/Home Prices (08:21) Too Big House to Hack? (16:25) Starting with $40K and Scaling SMALL (26:23) Post Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-472 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