How to Analyze a Rental Property or Airbnb as a Complete Rookie

Episode #305
Don’t know how to analyze a rental property? After this episode, you’ll be a rental property analysis pro, knowing exactly how much money you’ll make on your first, second, or next real estate investment. But don’t worry; you won’t need any complex formulas, dense spreadsheets, or complicated math to calculate how much cash flow you’ll collect from your real estate deal. Instead, you can use the EXACT methods we show to analyze investment properties in minutes, EVEN if you’re a real estate rookie!
In this episode, Ashley and Tony will teach you EXACTLY how to analyze real estate deals in 2023. From long-term to short-term rentals, BRRRR properties, and choosing your real estate market, Ashley and Tony will go through everything you need to ensure your first or next real estate deal is a home run.
Our hosts will go step-by-step through analyzing a real estate investing market, signs of one you should invest in, building your “buy box,” analyzing a long-term, short-term, and BRRRR investment property, and how the 2023 housing market has changed. If you’re still waiting to get a rental property under contract, this is the place to start!
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Join the Real Estate Rookie Facebook Group:
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BiggerPockets Calculators Used in This Episode:
Rental Property: www.biggerpockets.com/rental-...
BRRRR: store.biggerpockets.com/produ...
Rent Estimator: www.biggerpockets.com/insight...
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Tune into The “Real Estate Rookie” Podcast:
Podcast: www.biggerpockets.com/podcast...
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Grab Tony’s Short-Term Rental Calculator:
therealestaterobinsons.com/ca...
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Other Tools Mentioned in Today’s Episode:
BrightInvestor: brightinvestor.com/
NeighborhoodScout: www.neighborhoodscout.com/
Policygenius: www.policygenius.com/pockets
PriceLabs: hello.pricelabs.co/therealest...
Propstream: propstream.com/bp
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Investor Shout-Outs:
Amy Mahjoory: @amymahjoory or / amymahjoory
Lattes and Leases: @lattes.and.leases or / lattes.and.leases
Zosia Madden (Rookie Ep 301): www.biggerpockets.com/blog/ro...
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Connect with Ashley and Tony on BiggerPockets:
Ashley: www.biggerpockets.com/users/e...
Tony: www.biggerpockets.com/users/t...
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or / wealthfromrentals
Tony: @tonyjrobinson or / tonyjrobinson
Show notes at: www.biggerpockets.com/blog/ro...
00:00 Intro
07:58 Choosing Your Market
10:57 Signs of a Solid Investing Market
16:45 Developing Your "Buy Box"
21:48 Financing the Property
25:36 LIVE ANALYSIS: Single-Family Rental
40:45 LIVE ANALYSIS: Duplex (Multifamily Rental)
49:29 What's Changed in 2023
54:10 LIVE ANALYSIS: Short-Term Rentals

[@WhopperBu]

Amazing details! Wrote down everything. Thank you to you both.

[@michaelharrington1431]

Awesome summary of the key considerations for LT rental and ST rental investments. Everything was so clear and easy to follow.

[@richardjudge2322]

Always great leaning from you Tony and Ashley.

[@ryambel]

Ashley and Tony since I found you too, my commutes was never be this exciting. Thank you so much! Not starting yet still in the stage of stalking yous' in Podcast. From Canada here

[@drydock000]

Love u both! Its like my morning ritual. Gets me going and motivated

[@amacmazing]

Lots of good info. Much appreciated!

[@jasonreeder2973]

Awesome work! Thank you both!

[@martinyates3443]

Ty for helping

[@karenwhite445]

Ashley and Tony, I really appreciate this breakdown on the subject matter. Investors say “the numbers need to make sense.” We need to know our purpose for the numbers to make sense. A lot of terminology is used that you both have clarified. Thank you so much.😊

[@victoriousjata2472]

Ashley, did you use a regular business line of credit or a real estate specific line of credit?

[@unclephil2722]

My issue is, where did ashley get the info from, when she showcased her google documents. Did she do it herself? What websites did she use? Etc etc.

[@michellegarza9751]

I have the same question

[@nicknite5094]

Question - Are you both affiliated with the sites like 'PriceLabs' or 'neighborhood scout'. Also Tony you left out the expenses in your evalutaion of short term rental.

[@onanothernote]

A freak in the spreadsheets😂😂

[@KH-bo2lr]

LOL...I was listening in the car and literally cackled...Silly!

[@Vinolovesliv]

Lol

[@aprilvancleve9463]

😂😂 That cracked me up

[@DasGonz13]

What's that difference between hard money and private money?

[@shawnyahallin298]

Hi. Hard money is borrowed from an individual or entity often at a higher interest rate and shorter term and they set the terms. Private money are funds you pursue through family, friends, and or business partners, and can more generate your own terms.

[@denniso254]

Hello Rookie, what will you do if you are buying and the appraisal comes back to be LESS by couple of thousands than the seller's posted buying price ? Thank you

[@everlenesmith5699]

Renegotiate the price .. pay the difference or walk away depending on the contingencies stated when you made your initial offer.

[@Player-gn3dc]

"Cleaning fee income"
One of the main reasons people are migrating back to hotels.
Can't wait for the Air BNBubble to burst on you greedy people 🤣