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Updated over 6 years ago on . Most recent reply

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12
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5
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Andy Winningham
  • Dallas, TX
5
Votes |
12
Posts

Advice on buying my first rental (Roofstock.com?)

Andy Winningham
  • Dallas, TX
Posted

Hey BP community! My name is Andy and I have just recently discovered the BiggerPockets podcast. I'm loving everything I'm learning and I'm excited to start getting my feet wet in the world of REI. I am curious if anyone has had any experience with Roofstock.com to purchase a rental property.

To give you insight into my thought process...right now, while I'm still trying to accumulate knowledge but still desiring to get in the game with my first rental, the idea of buying through Roofstock is very appealing to me. I like the thought of being able to lean on someone else's knowledge and expertise when it comes to finding a property, the results of the inspection, finding a tenant, managing the property, etc. and am willing to sacrifice a bit off the top to get some help in those areas. 

I would welcome thoughts/input on Roofstock in particular, and also my approach in general. Thanks y'all!

Most Popular Reply

User Stats

249
Posts
54
Votes
Mushfiq S.
  • Seattle, WA
54
Votes |
249
Posts
Mushfiq S.
  • Seattle, WA
Replied

My property is doing well from Roofstock. I made sure to pick a property that had a new roof and hvac. Also I made sure to contact the property management company prior to my purchase to make sure the area is rentable.

Roofstock does not allow an inspection during escrow. You are allowed to bring your own lender and property manager if you wish.

Roofstock was my first invesment and now I have put together a team on the ground in the same location and have purchase 3 more properties. I see Roofstock as a starting ground for beginners.

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