358: Rookie Reply: Loan Pre-Approvals & Picking an Out-of-State Investing Market

Out-of-state investing is a great option if you’re looking to venture beyond your backyard, but finding the perfect market can be a challenge. Not to worry—our hosts have been in your shoes before and are here to help you navigate this big decision!
Welcome back to another Rookie Reply! In this episode, Tony and Ashley offer their best tips, tricks, and tools for choosing a real estate market. They also get into the nitty-gritty of the mortgage pre-approval process. What is a pre-approval, when should you get one, and does it affect your credit score? Stay tuned to find out! Next, they discuss holding costs, including some of the different ways to fund these expenses. Finally, they talk about security cameras, and Tony even shares two instances when they helped save the day on his properties!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
Finding the perfect market for investing out-of-state
When to start the pre-approval process for a new home loan
How to pay for holding costs (and which lenders will fund them!)
How to land the IDEAL loan for your real estate niche
When to install security cameras across your rental properties
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Ask Us Your Investing Question
Apply to Be a Guest on the “Real Estate Rookie” Podcast
Grab Your Copy of “Start with Strategy” and Use Code “STRATEGY356” for a 10% Discount
Sign Up for the Real Estate Investing Virtual Summit
Your Step-by-Step Guide to Buying Out-of-State Investment Properties
Looking to Invest Out-of-State? Here’s How to Pick and Analyze a City
Tools to Help You Find Your Market:
NeighborhoodScout
BrightInvestor


Check the full show notes here: https://www.biggerpockets.com/blog/rookie-358
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