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Real Estate Investing with Keith Weinhold



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Beginner’s Guide to Real Estate Investing

• 65 min

Learn the beginner's mistakes to avoid. Is setting up a real estate LLC even worth it? Learn how to build the right credit score for a mortgage loan, including why you actually don’t want a score over 800. If a cash flowing property is so great, why would anyone sell it to you? I outline a myriad of reasons. Should you make a lowball offer to a real estate seller? Learn negotiation techniques. Earnest money procedures are covered. The real estate buying process is slow. From the time that you make the offer, it can often take over 30 days to close the deal. Once your offer is accepted, I recommend a professional third party inspection. It can cost you $300 to $500 for a single-family income property up to $1,000 for a fourplex inspection. I cover property appraisals and how they verify the quality of the bank’s collateral. Learn how to get a good feel for your property manager and what their duties are.  I discuss the Management Agreement between you and your manager. Be sure to tell your insurance provider that this is a rental property, not your primary residence. A mobile notary meets you at your home, workplace, airport, or even a restaurant in order to complete the paper-and-ink closing process. This wraps up the deal. Get started with income property at: For free coaching to help get you started, contact our free Investment Coach, Naresh, at: Resources mentioned: Show Notes: Get mortgage loans for investment property: or call 855-74-RIDGE  or e-mail: Analyze your RE portfolio at (use code “GRE” for 10% off):  Memphis property that cash flows from Day 1: I’d be grateful if you search “how to leave an Apple Podcasts review” and do this for the show. Top Properties & Providers: Best Financial Education: Get our wealth-building newsletter free—text ‘GRE’ to 66866 Our YouTube Channel: Follow us on Instagram: @getricheducation Keith’s personal Instagram: @keithweinhold   Welcome to GRE! I’m your host Keith Weinhold, here to help BEGINNING Real Estate Investors Today.    The biggest beginner mistakes to avoid, when you make an offer - can you lowball a turnkey provider, and all those buyer steps like LLCs, mortgage pre-approval, inspection, appraisal, and closing. Today, on Get Rich Education. _____________________   Welcome to GRE. From Athens, Greece to Athens, Georgia and across 188 nations worldwide. The voice of REI since 2014.    This is Get Rich Education Podcast episode 433 - and this is your Beginner’s Real Estate Investing Audio Guide. Hi, I’m your host Keith Weinhold.   We’re talking about how to get into long-term buy & hold RE investing - and that’s because it’s the most generationally-proven way to build wealth.   First, let’s talk about a couple of the biggest mistakes that real estate investors make - it’s being invested in only one geographic market. Often, that’s the market that they just happen to live in.    There is more risk with being in only one market than most realize, because you’re now tied to the fortunes or misfortunes of just one area’s economy.   Another substantial, common real estate investor mistake is that they continue to hold onto one - I’ll call it - special - property in their portfolio that they usually need to get rid of - but they have either sentimental ties to it - or they just hold onto it for convenience, and do you know what that property is?   I’m actually talking about a specific property here.   It’s the home that YOU YOU USED TO LIVE IN yourself. Well, what’s wrong with renting out the home that you used to live in yourself?    You might still have the preferable owner-occupied financing locked in on that o

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