Real Estate Rookie 59: Rookie First-Time Home Buyer Questions Answered by Scott and Mindy
Starting out as a rookie investor means you most likely have a lot of questions that need to be answered before you dive in and buy your first home! Whether it’s a primary residence, a house hack, or an investment property, you’ll need to know about loans, agents, inspections, and more. With us today is Scott Trench and Mindy Jensen, co-hosts of the BiggerPockets Money Podcast and authors of the new book First-Time Home Buyer.
We’ve rounded up some of the most popular questions asked on the Real Estate Rookie Facebook group and asked the experts their opinions on them. Questions include:
- Should I use an agent-referred lender or a mortgage broker?
- Is more or less of a down payment better?
- Does my agent need to find off-market deals?
- How do I shop for loans?
- Would you buy an as-is property as your first deal?
- And more!
Scott and Mindy have definitive answers to each of the above questions and sprinkle in a bit of their own experience, so you don’t make the mistakes they did. If you’re about to purchase a house, getting into the planning phase, or just starting to learn about real estate investing, make sure you get a copy of First-Time Home Buyer!
In This Episode We Cover
- How to find a lender and how to compare the ones you find
- How loan applications affect your credit score
- Getting inspections on your home and using them for price reductions
- Buying an as-is property and what that means for your budget
- Running your numbers 3 different ways
- Keeping a healthy safety reserve, regardless of if your home is a primary residence or an investment
- And So Much More!
Links from the Show
- BiggerPockets Money Podcast
- Rose Buckley episode
- Zillow
- realtor.com
- BP Insights
- Craigslist
- BiggerPockets Calculator
- BiggerPockets Forums
- MLS
- HomeReady
- Homepossible
- USDA Eligibility Map
- Redfin
- Your 48 point DIY Home Inspection Checklist
Check the full show notes here: https://www.biggerpockets.com/rookie59
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