Newbie investor need advice

[Tyrone Wilson]

Hello, I'm a new investor and I need some advice. So after 2 years of analysis paralysis I decided last week to start investing in real estate.

In the last 10 days I found what seemed to be good leads and tomorrow I'm meeting with a landlord who's retiring and looking to sell his properties.

I would like a few pointers on what to ask and what things to look for as I'm reviewing the properties.

Thanks

[Sam Haack]

Originally posted by @Tyrone Wilson:

Hello, I'm a new investor and I need some advice. So after 2 years of analysis paralysis I decided last week to start investing in real estate.

In the last 10 days I found what seemed to be good leads and tomorrow I'm meeting with a landlord who's retiring and looking to sell his properties.

I would like a few pointers on what to ask and what things to look for as I'm reviewing the properties.

Thanks

Hey Tyrone, I'm pretty new to real estate as well, but I ask to see the landlord's numbers on his properties such as vacancy rates, maintenance costs, and rents. There is a difference between listing a property for rent at a certain number vs what is actually collected. Basically, ask for anything you would see on a pro-forma and then plug them into a calculator on BiggerPockets or RenttoRetirement to find out your potential returns and other statistics that will help inform whether or not you want to make the purchase. From my beginner knowledge, I hope this helps! Good luck!