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Investing In Real Estate Podcast

Today’s first caller has a decent chunk of home equity available and a decent credit score. He’s interested in buying his first rental property close to home. What’s my advice for this scenario?

On this Q&A edition of Investing in Real Estate, I’m taking three of your questions on buying rental properties in your own backyard, finding lenders for new construction investments, and calculating ROI. Click play to hear my answers to your great investing questions!

On this episode you’ll learn: 

  • What to consider about buying a rental property in your neighborhood.
  • Ideas for finding a lender for new construction rentals.
  • What to factor into your ROI equation.

What to Consider About Buying a Rental Property in Your Neighborhood

Very rarely is it a wise move to buy rental properties in your backyard. Selecting the right market is instrumental to your success, and it involves researching things like vacancy rates, crime data, and more. Especially if you don’t plan on managing the property yourself, there’s no reason to invest close to home. Instead, consider investing in landlord friendly states and in proven markets with job diversity, strong schools, and consistent cash flow. Check out this video on choosing a rental market.

Ideas for Finding a Lender for New Construction Rentals

If you’re looking for lenders, the first resource I can recommend is my friend Dan Kraus at Churchill Mortgage. The second thing to consider is that there are a lot of great small, local banks out there that are looking for business. Go shake hands with some bankers in your town and find out what types of banking products they can offer. Private money is also always an option for creative lending.

What to Factor Into Your ROI Equation

Determining your return on investment can encompass many different factors. Here’s a blog post I did on calculating profit on an investment.

Ask Me a Question at morrisinvest.com/clayton

Episode Resources
Book a Call with Our Team
morrisinvest.com/newsletter 
Dan Kraus at Churchill Mortgage 
How Much Profit Should I Make on a Rental Property?
morrisinvest.com/Clayton
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Download the free Financial Empowerment Bootcamp
Subscribe to Investing in Real Estate on iTunes
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.

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Posted on

October 30, 2023

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