BiggerPockets Real Estate Podcast - How to Find, Evaluate, and Offer on Rental Properties in 2024

Starting point is 00:00:00 Hey everyone, Dave Meyer here and welcome to the Bigger Pockets podcast. Today, we're doing something that we do from time to time, which is bringing you some content from elsewhere in the Bigger Pockets universe. If you don't know, we often host webinars actually every week, sometimes multiple times a week on the Bigger Pockets website that go in depth on a particular topic. And from time to time, we find that certain webinars really resonate with our audience, and it's just so valuable that we want to share it with you, either here on the podcast or on YouTube. Today, we're going to be doing that with a webinar called How to Find, Evaluate, and Offer on Rental Properties.

Starting point is 00:00:42 And during this webinar, we're going to be going over the three stages of getting a rental property. Each of these three steps is important and challenging in their own ways. But over the next few minutes, I'm going to walk you through some tips, some systems, some software that's going to demystify each step in the process. Not Bigger Pockets, we want to thank you for spending your time with us. You're listening to this webinar. We know that your time is valuable. We genuinely appreciate you choosing us when wanting to learn about real estate. And because you showed up, and honestly, because commitment and consistency is really like 90% of what makes a successful investor, I want to start off the webinar with a gift to you.

Starting point is 00:01:21 Even if you can't stay for the whole thing, Bigger Pockets wants you to succeed so badly that we're instantly giving you off 20% on our pro. membership. All you got to do is go to biggerpockets.com slash pro and enter the coupon eval pod 24. That's EVA-L-P-O-D-24. And you're going to get 20% off your first year of pro annual. But you should stick around to the end of the webinar because I actually have some very generous gifts for you. So make sure to stay tuned for that. All right, let's jump into it. Like I said, the title of today's webinar is how to find, evaluate, and offer on rental properties. I want to start before we get into the content of just quickly introducing myself, if you guys don't know me. My name is Dave Meyer. I've been a real estate investor for just about

Starting point is 00:02:08 14 years now. I also work full time at Bigger Pockets where I've been an employee for more than eight years. My current title is the vice president of market intelligence, which means I get to do all sorts of fun stuff like study the housing market, study economics, and share what I learn with all of you. I also host the podcast on the market. I've written two books, real estate by the numbers, and start with strategy. But despite some of those accomplishments and what I do with my time right now, I think what's most important to our conversation today is that it wasn't so long ago that I, too, was a newbie in real estate investing. And I was just trying to figure out how to get a couple of deals and get some momentum behind my portfolio. But luckily,

Starting point is 00:02:56 I've learned some systems and tools that have helped me scale my portfolio, and I'm super excited to share those tools with you today. Now that you know who I am, let's talk about our agenda. First, we're going to learn the secret to finding good deals both on and off market. I know that some people feel that it's hard and difficult to find good deals, but we're going to talk about how you can get around some of the challenges that exist in today's market. Next on our agenda, we're going to talk about mastering the five states. of deal analysis. If you know me, deal analysis is kind of my thing. I love it. And I'm going to give you a demo of tools that are going to help you do deal analysis the same way that I do. Next, we're going to talk about overcoming some of the biggest roadblocks to getting your

Starting point is 00:03:43 offers accepted because it is a competitive market right now. And knowing how to position yourself and strategically offer on deals is really going to help you. We actually have seven solutions to this roadblock, so you're definitely going to want to hear those. Before we jump in, I just want to ask you why you're here for a minute, because learning real estate, of course, is fun in its own right. At least I find it fun. But I think most people are here because they want to pursue something more meaningful. It's probably financial freedom.

Starting point is 00:04:15 If you've never heard of that term, it's basically the idea that you obtain a level of wealth that allows you to spend your time, how you want to spend it, and who you want to spend it. And I know that there's a lot of influencers out there selling you on the idea that financial freedom or why you should be investing is like luxury goods or expensive cars and boats or all this stuff on just honestly material things. I'm not saying there's anything wrong with boats. I have friends with boats.

Starting point is 00:04:46 But I 100% sort of a different idea about what financial freedom is. The truth is, or at least my opinion of what financial freedom is, is that it looks different to different people. For me, it's about being able to travel where I want and to spend a lot of time with my family and friends. So maybe that resonates with you. For a lot of other investors, it's about making time for the hobbies that you like or, you know, maybe you're in a band or you really like art. Everyone's vision about financial freedom is different. But all of these visions of freedom, I think, have one thing in common. And it's not necessarily about extreme wealth, it's actually about time. It's about getting enough money that you gain back

Starting point is 00:05:32 freedom and control over how you spend your time. And you already probably know because you're listening to this webinar right now that real estate investing can help you with financial freedom and can help you regain some of your time so you can spend your life how you want. And some people call this financial independence. Some people maybe instead of looking for time or looking for generational wealth to change their family tree or to build a financial fortress. So you just feel more secure in your life and that you can weather any of the inevitable downturns or challenges that come with life. But whatever your goals are here, you should know that real estate can offer you financial benefit. And all it takes is one rental property at a time. You don't need to be

Starting point is 00:06:20 thinking 20 years ahead or hundreds of units ahead. What I recommend to almost everyone who wants to pursue these long-term goals is actually just focus on short-term gains and getting the next property, the next deal, and building momentum in their portfolio. Now, if there are all these great reasons, and there are, to investing in real estate, why doesn't everyone do it? There are a lot of roadblocks that I hear about, and these are real, like, let's be honest. Not real estate isn't just cut and dry for everyone. There are reasons that you should have reservations. Like some reservations that I hear are that people lack confidence.

Starting point is 00:06:58 They don't know what a good real estate deal even looks like. But the reality is the best way to grow your confidence is actually, it's kind of simple. All you need to do is learn. You just self-educate and surround yourself with people who know more than you do. And practice. Get good at analyzing deals and you'll be able to find great ones. Or maybe a reservation you have is losing everything or losing some money on a deal. That makes sense. But in reality, experience investors know that choosing the right deals is kind of just a matter of following a simple analysis framework that other investors have created and invented and use. And you just need to follow that framework repeatedly, learn to repeatedly run the numbers and doing that, you can mitigate risk by buying great deals. And listen, whether these are your reservations or you have other reservations, just remember that I know how you feel like I had these reservations to.

Starting point is 00:07:52 single investor has these reservations. No one goes into making large financial decisions feeling 100% confident. The thing is that I got over it by educating myself, by grabbing the right tools, by surrounding myself with the right community. And I've done that mostly through Bigger Pockets. I actually started my investing career six years before I even knew that Bigger Pockets existed. And let me tell you, those six years were not the most efficient of my investing career. I was sort of scrapping and trying to figure it out. But once I discovered Bigger Pockets and saw that there's this incredible community of millions of investors who help each other, who share tools and share resources, I scaled up a lot faster and I was able to overcome

Starting point is 00:08:40 a lot of the reservations and roadblocks that we were just talking about. And I'm not the only one who has done it this way. There's tons of people in Bigger Pockets who have used the same tools and the same processes to become successful investors. I just pulled a story from the forums from a guy named Jason who said that he was able to completely replace his six figure income with passive real estate in just three and a half years because of the tools and network and community of bigger pockets. This is just one story, guys. You can go find more of them in the forums. But I just want you to know that this is possible. And what Jason has figured out, I've figured out what tons of other people through bigger pockets have figured out is that it doesn't

Starting point is 00:09:25 take that many properties to achieve financial freedom. Despite people on Instagram saying you need hundreds or thousands of properties, it's just not true. And I'm going to show you how to analyze and buy the right tops of properties, even if you're not good at math, even if you have no experience in real estate, and even if you don't know how to find deals right now. By the end of this webinar, you're going to know how to do all of those things. And this stuff matters, guys, because if you're able to find and analyze deals, you find better deals. That means you get to financial freedom faster because your deals are more efficient. And if you get to financial freedom faster, that means you get that time back that we were just talking about, which is what it's all about.

Starting point is 00:10:05 But remember, before we get into it, guys, this is going to take work. Real estate investing is not a get rich quick scheme. You're going to have to put in time and effort. But if you are willing to put in that time, if you are committed to being consistent and taking action day after day, you can get on the path to building wealth through real estate today. So let's jump into it and get started. So step one is finding deals. And everyone calls it finding deals, but I actually think the first part of finding or getting landing a deal is actually

Starting point is 00:10:34 about finding leads because actually every lead, every property that you look at is not going to be a deal. You actually need to find a lot of different properties to look at and analyze before you're going to find one that you can make an offer on and eventually. buy. And so that's why leads are important. And if you don't know, a lead is just basically like a deal that your agent send you or you find off market or you just find on the NLS. And you need to think of it like a funnel because maybe you need to look at 50 different deals and then you analyze, you know, maybe 20 of them are good deals to analyze. You analyze those and then maybe out of those 20 deals you analyze, maybe one of them is worth offering on. It's really just a numbers game. And so you need to start by figuring out where you're going to find your leads. I have four tips for you on where to find

Starting point is 00:11:24 leads. Number one is direct mail. This is an off-market deal finding strategy where you try to identify sellers who are willing to sell you their property before they go and sell it on the MLS. And there's a couple ways to do this. So direct mail is the first one. This is using software where you can basically go out and send postcards to people who meet your criteria. You can also do a similar idea for driving for dollars. This is where you actually go out, drive around, identify properties in your neighborhood that you think would make good investments and contact the sellers. You can also use certain websites for this direct mail marketing. So all of these ways are good ways to find off market deals. I'll actually throw in a bonus. You can also just

Starting point is 00:12:09 network with other investors in your area and maybe they will help you find pocket listings and stuff like that. These are all great ways to find really good deals. But these methods, are only for some people because they're a little bit more time consuming and can be a little bit more expensive than my favorite strategy for finding leads, which is just using a investor friendly agent. And I know this isn't the most exciting or the sexiest option, but I have found the majority of my deals on market, on the MLS because my investor friendly agent was able to send me a great deal. Working with an investor friendly agent is great because, one, help you sort through the MLS and find great deals. I actually just yesterday got a property

Starting point is 00:12:55 under contract. This is in 2024. Got a property under contract that is going to cash flow on market from my agent. So guys, this is absolutely possible. I am doing it. I've also had my agent send me off market deals because if you find a good investor friendly agent, not just your run of the mill agent, but one that works with investors. My agent sends me pocket listings and off market deals honestly all the time, at least once a week because my agent does a lot of that networking for me. And because I'm a good investor and a good buyer, he sends them to me first. So working with a great agent, I think, is the best way to get a lot of leads. Now, if you're wondering, how do I find a great investor-friendly agent? Well, BiggerPockets is a tool for that. All you got to do

Starting point is 00:13:40 is go to biggerpockets.com slash agents. You enter a little bit of information about yourself and you're going to get matched completely for free with an investor-friendly agent who can help you navigate your market and get those leads in so you can move to the next part of the evaluating and offering funnel that we've been talking about. Now that we've sort of talked about leads, let's move to part two, which is evaluating deals. And just as a reminder, you use either an investor-friendly agent or some of the off-market deal-finding tactics that I've been talking about to get leads. But to make a lead into a deal, you need. to evaluate them, right? Because when you have all these leads coming in, not all of them are

Starting point is 00:14:21 going to work. You want to make sure that the numbers work and that you're going to find the deal that offers you the best possible return. Now, if you're not familiar and I've never done this before, I know that it can sound intimidating to analyze deals, but we're going to use a tool right now and I'm actually going to walk you through it to show you that this can actually be quite easy and quite quick. You're going to see that with a little bit of practice, you'll be able to analyze leads in five or 10 minutes. So that that idea of analyzing 20 deals is actually not that intimidating and is something that literally anyone can do. So we're going to jump over to the Bigger Pockets calculator and we're going to actually analyze a lead that I found on the Bigger

Starting point is 00:14:59 Pockets website. It is in Memphis, Tennessee. We have a three-bed, one and a half bath house. It's a smaller house. It's 922 square feet. And it is on the market right now for $87,450,000. And the projected rent, at least according to the seller, is $880. So I'm in the Bigger Pockets calculator. And if you guys want to follow along, you can just go to BiggerPockets.com, click on the little tools thing and the navigation bar and then go to rental property calculator. That's where I'm at. And you'll see, as I said earlier, that there are actually five steps to our deal analysis.

Starting point is 00:15:35 One, you put in property info, then you go to the purchase conditions, loan details, rental income and expenses, we'll walk through each of those five right now. So first things first, property information, this couldn't be any easier. You basically just copy and paste or type in the address of the property. So I'm going to do that for our property in Memphis, which is on Lake Park Road. And then I'm also going to add some photos about the property. I just do this because I find it easier to remember all the different leads that I'm going through visually. Remember I was saying that you need to look at, you know, maybe 20, analyze 20 deals before you pick one? Well, I can't remember addresses personally.

Starting point is 00:16:17 So I like to put in pictures because it makes it easier for me to remember. So that was it for purchase info. That's the easiest one of the five steps. I'm going to click next on the calculator and move on to the purchase conditions. This is basically where you put in information about buying the property. So for now, let's assume that we're going to pay full asking price, which is 87,450. So I'm just going to type that in into our calculator and put in closing costs, which I would think is going to be about $3,500. Now, you're maybe asking, like, how do I know closing costs?

Starting point is 00:16:48 That's not listed on the listing. No, it is not. But I've done enough deals to know how much closing costs are. But in the bigger pockets calculators, we have these little help tips. So if you're new to deal analysis, just click on the help tip and it will give you rules of thumb. For example, this one says if you're unsure of closing costs, use one and a half percent. of the purchase price. That would be only about $2,000.

Starting point is 00:17:10 I think it's actually going to be a little bit higher for me, out-of-state investors. So I'm going to do $3,500. Then you have the option to say if you're going to be rehabbing this property. I think at $87,000, I don't know this property, guys. I just found it online. I'm going to assume that we do need to put in a little bit of money here. So I'm going to assume that we're going to put in $7,500. I'm going to type that in.

Starting point is 00:17:31 And by doing that, I can actually increase the value of this house to about $100,000. So I'm going to put in 7,500, and that will take the value of this house from 87,000 to 100,000. And this is what is known as an after repair value and is a common thing that you can learn about on the Bigger Pockets website. But basically, when you buy a house, you usually have to stabilize it, which is putting a little bit of an investment in to increase the value and put it in great condition for your tenants. All right, that's it. We've already done step one, property info, step two, purchase, and we're moving on to loan details. First, I'm going to put down my down payment, which is 25%. As an out-of-state investor, that's usually what I put down. You can put down less, but for me, that's what I like to put down. And I'm going to use an interest rate of 7% because that's what I've been quoted recently. Next, I'm going to put in my loan term, which is 30 years because I love fixed rate debt. And I'm done with loan details. So step three is already down. If you guys don't know how to fill out this out, one of the things that I recommend is talking to a lender. it's completely free. They'll tell you how much you need to put down. They'll tell you how long your

Starting point is 00:18:42 loan term, what your intrate's going to be. And we'll talk about that more in a minute. But just talk to a lender if you don't know how to do this part of the analysis. Step four is income. This is where we talk about rent. So this is where some people get tripped up because they don't know how much they can rent their property up for. And this is super important. And you can talk to other investors. That's a great way to do it. You can look on Zillow or Apartments.com. You can talk to a property manager. But one way I recommend doing it, especially when you're just analyzing a lot of deals quickly, is to use the Bigger Pockets rent estimator. So this is another tool that we have where you just go in. And again, if you want to follow along, just go to BiggerPockets.com.

Starting point is 00:19:21 Click on tools in the top nav and hit Rent Estimator. You can put in the property address that you're analyzing and we'll give you an estimate of what rents are going to be. And we'll also tell you how confident we are in this estimate. So when I put our address in here on the rent estimator, I see that it is $1,55 and very high confidence. And I can see why there's high confidence because what I'm looking at is a map of maybe like 25-ish comps in the immediate area. So these are other properties that have been listed for in very close to this property. And that's how we make our estimate. And I feel pretty good about that.

Starting point is 00:19:59 So I'm going to put that in as our gross monthly income, $1,055. That's step four, and we're moving on to expenses. When we talk about expenses, there are a couple different categories of expenses. The first one is property taxes. Bigger Pockets has already pulled in for you. We use public record data, and so we already know that property taxes on this one is $816 a year. And insurance is going to be about $900 a year.

Starting point is 00:20:25 I Googled that just before I gave this presentation. I recommend you do that, or you can always talk to an insurance broker and get a more accurate estimate once you're getting closer to offering on deals, which we'll talk about in just a minute. After we do those fixed expenses, we move on to what's known as variable expenses. These are things like repairs and maintenance and vacancy that don't happen all the time, but you need to put money away for to make sure that when they do come up, that you have cash to cover it. For repairs and maintenance, I like to put around 7%. That's just a number I use, not knowing this property, but if it's an old property, you may want to put higher. If it's new construction,

Starting point is 00:21:02 you can put lower, but I'm going to put 7%. Vacancies, I like to use the number of 8%. That's about one month of vacancy per year. That's conservative, but I like to be conservative. And then capital expenditures, I'm going to put 5%. If you don't know what that means, capital expenditures, otherwise known as CAPEX, it's kind of similar to repairs and maintenance, but it's basically for bigger things, like replacing the roof or a boiler or an HVAC system.

Starting point is 00:21:28 And it's treated differently from the IRS, so you have to keep it separate. We've put in our percentages there and we're going to move on to our management fees. I put 8% in here. I'm an out of state investor. And in the two markets I invest out of state, I pay 8% for both. So I'm going to put that for my management fees. And then I'm going to move on to our last section of the entire analysis, which is utilities. So this is a single family home.

Starting point is 00:21:52 And so for utilities, I actually am not paying anything. The tenants pay for electricity. So I'll put zero there. For gas, put zero there. and sewer, zero there. There's no HOAs on this property. Garbage, I actually usually pay, because it's just like a city expense. So I pay 20 bucks a month for that. And then I'm done. So I've been talking and walking you through this, and this still took me only like five minutes to analyze this deal. So as you can see, if you get good at this, you'll be able to take all

Starting point is 00:22:22 those leads that you're getting and analyze them for good deals relatively quickly. And what I see when I analyze this deal is this is a good deal. So I just hit analyze. and what the calculator shows me is this property would offer $160 a month of cash flow, which is great. And it's equal to just under a 6% cash on cash return. That is a really good return right now. Different people target different cash on cash returns. For me, if it's a really good neighborhood that I think will appreciate, I target a cash on

Starting point is 00:22:53 cash of three or four percent after all my expenses. Or if it's in more of a cash flow area where I'm less convinced that we'll get good depreciation, I target somewhere in a 6 to 8% cash on cash return. So this to me would be a good deal. I would consider offering on this deal. Now, if this deal isn't good enough for you or you want to be even more conservative, you can do some more finagling of your assumptions with the calculator, which is super cool. So you can go in and say, you know what, 6% is good, but I want to get an 8% cash on cash return. So what happens if instead of paying full asking price, I pay 84,000. Remember, it was 87,000. So if I can get knock three grand off the asking price, my cash on cash return goes from

Starting point is 00:23:39 5.8% to 6.5%. That's pretty good. Or maybe I can talk the buyer, the seller, into buying down my interest rate, half a point to 6.5%. Then my cash on cash return goes up to 7.3%. Right. So I'm not saying that the seller is necessarily going to accept these terms, but you can sort of play around with different scenarios to get a sense of what the best offer you can make is. Because in just a minute, we're going to talk about how to offer on deals. And the calculator makes that really, really helpful and really, really easy. At the bottom of the calculator, you can also see like when you go to sell it, how much money you would make. For example, on this deal, if you held down to it for 10 years, you would make 60 grand, which is an 11% annualized return. which is phenomenal. Last thing I want to mention on this calculators is there is this share button. And if you enable report sharing, you can download a PDF that has all of this deal analysis in a really nice looking PDF. I highly recommend you consider using these things because if you want to find a lender,

Starting point is 00:24:44 if you want to get your spouse on board, if you're looking to attract a partner, showing them that you've done expert level deal analysis is going to be really important. And these types of calculator reports show that you, you've done your homework, you know how to do deal analysis. It's going to be highly accurate because you're using a respected tool, and that's going to make all of those conversations a lot easier. All right. So that is deal analysis.

Starting point is 00:25:08 Hopefully you guys see that this is not super hard and that you can evaluate deals. You can take the guesswork out of deal analysis if you use the right tools. With that, now that we've talked about how you get leads, how to analyze tools, we can move on to part three, which is the final step of the process, which is all. offering on deals. And this part is often overlooked. People spend a lot of time looking at deals, analyzing deals, but they don't know how to sort of bring the deal over the finish line with the right offer. Two questions you should ask yourself before making an offer because you don't want to offer on everything. Number one is do the numbers work, right? I can't stress this enough,

Starting point is 00:25:48 but if the numbers don't work, the deal doesn't work. Don't make an offer on it, right? And important skill as an investor is knowing when to walk away from a deal, even if you really like it, the numbers don't work, then it's not a good deal. And you shouldn't be offering on it. So that's the first question. The second question is how is the seller selling? Right. So you want to ask yourself, like, what are the conditions that you find under this deal? Like, is the seller in a really competitive market or have they had their property listed for a while? You want to look for clues on what the seller is thinking and going through and because that's going to inform your offer and your investor-friendly agent should help with that.

Starting point is 00:26:27 Look for those clues. So here are seven tips for getting your offer accepted. And I'm going to go through these fast. So pay attention. First is be the first to offer. Can you get the first offer in and put a close response deadline in there so that they have to respond to you before you face a lot of competition? I've done that in the past and it's worked for me.

Starting point is 00:26:48 You could also be the last. I know that sounds contradictory, but sometimes you can come in at the end with the best offer and sort of leapfrog all the other investments. I actually did this literally yesterday. There was a offer deadline, and I waited until 15 minutes before the offer deadline, and I wound up coming in with a great offer, and I won the deal. Third is keep it clean. Don't make your offer super complicated with all these caveats and contingencies.

Starting point is 00:27:16 That's going to scare away a lot of sellers. Fourth, I really like this one. Their price, your terms. Sellers are usually really focused on what the price is, but you as an investor should be focused on terms, like getting an inspection, appraisal gaps, ways to protect yourself during the closing process. This can be really helpful for you as an investor. If you give them their price, they are often more willing to accept your terms. Next, number five is higher purchase price, but concessions. These are things like I'll pay you more, but you're going to have to fix that roof, right?

Starting point is 00:27:52 Or I will pay you even more than you're asking price, but I need a really long closing period. So again, you need to work with the seller. They're not an adversary in every negotiation you are partners. And so you need to offer something like a higher purchase price in exchange for those concessions. If you go in and take super hard lines on everything, it's probably not going to work. Number six is multiple options. give the seller some choice and they might be willing to work with you and open into a more verbal negotiation. And then seven, offer again. Sometimes if a property is sitting on the market

Starting point is 00:28:27 and you make an offer and it gets rejected, come back a few weeks later with maybe a slightly better offer or maybe the same terms because that house has been sitting on the market and the seller might be more willing to take your offer. So don't get discouraged. Keep offering and remember that it's a numbers game. Again, those are my seven tips for getting your offer accepted. So just as a recap, here's how you get a rental property under contract. Step one is to find deals with great leads. Step two is to evaluate deals with great tools. And step three is to offer on deals with great tactics. And if you do this, I promise, guys, you are going to be able to get rental properties under contract. Now, I know that even after

Starting point is 00:29:09 you learn these tools and tricks that I've given to you, for those of you who are new, and we haven't come to a webinar like this before. Real estate, it can still feel scary even knowing these things. And it can feel like real estate is sort of like jumping off a cliff or some extreme thing that you're going to do. But it is not. I promise you, it is not an extreme sport.

Starting point is 00:29:28 It is not base jumping or bungee jumping or whatever. It is like hiking with friends. You are walking uphill. Yes, it does take work. But you're on a well-worn path. And you're doing it one step at a time with a big community around you, with the right tools in place that are going to help you do this, right? Let me stick with this, this analogy for a second. So just stick with me. You know, if you were going on a hike,

Starting point is 00:29:50 what do you bring with you, right? You'd bring the right tools, like a map and a compass. You would bring an experienced companions, right? You wouldn't just go out in the wilderness being inexperienced without someone who knows what they're doing. And you would bring a plan, right? Like, that is what trail that you're going to walk along in my metaphor. And investing in real estate is basically the same thing, right? If you are surrounded, by the experienced companions, you have the right tools, and you have a plan, it is absolutely possible. And I know this because it's what we do at Bigger Pockets. We provide the tools, we provide training and community that you need to find fund and analyze real estate deals

Starting point is 00:30:29 with confidence. We have 3 million investors at Bigger Pockets who are already using these resources to fuel their financial dreams. This has worked for me. It's worked for a lot of other people, and it can absolutely work for you. And if you feel inspire to start your journey today. We're here to support you. We want to help you every step of the way. So with your permission, I'd like to make a special offer to upgrade your real estate investing game with Bigger Pockets Pro. Bigger Pockets Pro has everything you need to succeed in real estate investing. This is tools, content, community services. It's all here. What you get are calculators, leases, and other tools that give you confidence in finding those leads, analyzing the deals, making the offers, and funding

Starting point is 00:31:12 your properties. This is amazing. So Bigger Pockets Pro is truly a one-stop shop to start, scale, and manage your real estate portfolio. And if you're wondering, how can one subscription really provide everything you need? Let me explain it briefly to you. First and foremost, you get the amazing analysis tools that we just talked about. As you know, I love deal analysis. I wrote a whole book about it. And these are the tools I use. I use the rental property calculator. I use the rent estimator. And I know that tens of thousands of other people are doing it to figure out what deals to offer on. Next, you also get access to really exclusive top-of-the-line world-class education.

Starting point is 00:31:51 You get live webinars and workshops. I host many of those workshops myself. But you also get to interact with other experts through our boot camps. You actually get 50% off all of our amazing boot camps. That's such a good deal. And you get to learn from Henry Washington, Ashley Care, Matt Faircloth, and tons of other people in the Bigger Pockets community. You also get to supercharge your network.

Starting point is 00:32:14 Bigger Pockets Pro get three times more connections in the Bigger Pockets community than our free members do. And you get to participate in the exclusive pro community forums. Next, you get the landlord command center. This is incredible. It's something we've added over the last couple of years. But if you want property management software, which every landlord needs, you get it for free from rent ready. This is normally like $240. Pros get it free.

Starting point is 00:32:40 You want portfolio monitoring. accounting software, you get it from Stessa for free. Do you want lease agreements and all the legal nonsense that you normally need to do with a lawyer that costs thousands of dollars? You get lease agreements and packages of legal agreements for any state in the country, all for free for pro. So all these things combine really give you everything that you need to start and scale your portfolio. And just as a little bonus for a lot of people, pro is actually tax deductible. I'm not a CPA, but talk to your CPA because you can write it all. most likely. Don't just take it from me. There are tens of thousands of people who are doing this.

Starting point is 00:33:15 Aaron C., who's a Bigger Pockets Pro member, said, quote, there's no way I could analyze the volume of properties I do without being a pro member. We're taking from Beth, a pro member who said that pro has been the foundation of her real estate investing in Denver, or people like Jackie say that it's such a small cost for something that adds so much value. So if you're wondering about value and how much it costs, if you actually added up each of the individual tools here that we offer with Pro, it would come to over $5,000. That would be worth it even if you got just one deal because it would earn you well over $5,000. But that's a big investment. And honestly, at BiggerPockets, that's really not what we're all about. Our mission is to make real estate investing accessible. So we make all of the amazing tools of Pro available for a reasonable price. Bigger Pockets Pro is normally $39 a month, which comes out to $468 a year. But if you pay every month. But if you pay annually, we drop that down to actually $390, but I'm going to do you one better. Just for listening to this webinar, we're going to give you 20% off and we'll drop the price of

Starting point is 00:34:23 pro annual down to $312, which is $156 in savings. That is an incredible deal. But at the beginning of this podcast, I did tell you that we had extra gifts for you and let me share them with you. Number one extra gift today is the show me the money starter pack, which is going to help you get to that first deal through financing. We have an e-book, six steps to eliminating debt and repairing credit. We have worksheets to build your pillars of wealth and a nine hour low and no money down workshop. It's so valuable. It actually is worth like $470, but you're going to get all this starter pack for free if you go pro today. Next, we have the demystifying the housing market bundle.

Starting point is 00:35:07 I know a lot of people are confused about what's going on in the economy, which is why I've personally created this bundle, how to invest in a changing economy guide. I also have my 2024 state of real estate investing report and a video on how to build scenario plans and invest in an uncertain economy. You're going to get all of that for free as if you go pro today. And lastly, this is my personal favorite bonus. It's the ACE your analysis toolkit. I get to give you my book for free.

Starting point is 00:35:37 It's called Real Estate by the Numbers. It's going to teach you everything you need to know to become an expert at deal analysis. You'll get that. You'll get some of my personal Excel files that I use for plug and play analysis. You'll get videos on how to become even better at deal analysis. This is something we normally sell for $229, but you'll get it for free if you go pro today. So hopefully you can see the incredible value here that we're offering. So I encourage you if you want to level up your investing to go try it.

Starting point is 00:36:05 And if you don't love it, within 30, you know, 30 days, we will give you an 100% refund, no questions asked. So that's it. That's what we got for you guys today. If you want to level up your investing, if you want to build some momentum and start building towards financial freedom, consider going pro today by going to biggerpockets.com slash pro. Enter the code Evalpod 24. That's EVEA-L-P-O-D-4 at biggerpocketspro.com. And don't forget to use that code because otherwise you're not going to get those extra bonuses. You won't get the show me your money starter pack or the demystifying the housing market bundle or my book for free. You won't get 20% off. So use the code EvalPod24 at biggerpockets.com slash pro.

Starting point is 00:36:48 Thank you all so much for listening. I hope you learn something about how you can build the right systems to find leads, evaluate those leads, and make winning offers on rental properties so you can build your rental portfolio and pursue financial freedom. My name is Dave Meyer. If you have any questions or want to connect with me, you can always do that on Bigger Pockets. Thank you so much for listening, and I'll see you around the Bigger Pockets community.

BiggerPockets Real Estate Podcast - How to Find, Evaluate, and Offer on Rental Properties in 2024

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.