Basic Real Estate Questions

[Kyle Dube]

Hello everyone. After reading a few real estate investing books and watching quite a few podcasts I have some basic questions I hope I can get answered. Thank you for the help and I hope everyone has a great day!

1. After reading Brandon Turners book "The Book on Rental Property Investing" a section mentioned risks about lien. I'm not familiar with the term, but I do understand it involves debt of some sort. What exactly does this term mean and where does debt come into play?

2. What exactly is underwriting and what does this process entail? Where does this process take place in when making a deal happen (i.e. Before closing, after closing, when you first make an offer, etc.)?

3. How do you estimate rehab costs when first looking through a home? Without a proper inspection it almost seems like you have to use the eye test and experience to guess what the costs for a rehab may be?