HomeNewsHow to Buy a Rental Property in 90 Days (or Less!)

How to Buy a Rental Property in 90 Days (or Less!)

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Here’s exactly how to buy your first rental property in ninety days or less. And guess what? You don’t need ANY real estate investing experience to do it. After watching this episode, you’ll be able to find rental properties, analyze them to ensure they’re profitable, and fund them so YOU can start building financial freedom. And whether you want two investment properties or twenty, these are the EXACT steps you’ll need to accomplish your goal.

If you’re dreaming of passive income, financial independence, or throwing your alarm clock out the window, this is the place to start. Dave Meyer, BiggerPockets VP of Market Intelligence, went from waiting tables to making mailbox money EVERY month by investing in real estate over the last decade. Now, Dave lives abroad, doing what he loves and having more than enough passive income to support his lifestyle. He’s giving YOU the beginner steps to start building your own wealth through real estate and showing YOU how to buy your first rental property in just ninety days.

Want to supercharge your real estate investing and reach your goals faster? Sign up for BiggerPockets Pro and use code “24CHALLENGE” for a special discount and to unlock unlimited rental property calculator usage, landlord lease agreements, exclusive bootcamps, and more!

Dave:
Hello everyone and welcome to the BiggerPockets podcast. I’m your host today, Dave Meyer, and I’m bringing you something very special today. It’s a webinar, maybe my favorite webinar that I’ve given in a long time or maybe ever. It’s called The 90-Day Challenge and I’ve adopted it to fit the podcast format. So don’t worry, there’s not going to be any visuals that you can’t see. We are just taking this concept of the 90-Day Challenge that has been a very successful webinar for all of our listeners and our users on biggerpockets.com for years, and we’re bringing it here to our podcast and to our YouTube channel. Now, the webinar is called The 90-Day Challenge because what we’re going to do today is I am going to challenge each and every one of you to get your first deal or if you already have a deal, get to your next deal in just the next 90 days.
And I know that that might seem crazy if you’ve never bought real estate before or you’re worried about market conditions or where you’re going to find the right type of cash filling deal. But I assure you that by the end of this webinar, this podcast, this presentation, you’re going to have the tools and the knowledge that you need to get that next deal in just the next 90 days. And I’m super excited for you guys to spend the next hour or so with me because I’ve actually done this webinar before. I did it sometime last year in 2023, and I’ve been able to see the results, which is really cool. I’ve seen that people who listen to the very content that you’re about to listen, to go on to get their first deal or to get their next deal in the 90 days following, listening to it.
And so I’m excited on all of your behalf because I know that this content and the frameworks that I’m going to give you are really helpful and have helped hundreds, if not thousands of other investors before you. Thank you guys for spending this time with me. I’m very humbled, I really appreciate it. It’s a really great way for you to demonstrate your commitment to real estate investing by listening to this. And honestly, that is so much of the challenge with being a real estate investor is just committing yourself to it and actually educating yourself and getting to that first deal and to reward you for taking this very important first step. BiggerPockets wants you to have a little gift. It is 20% off our Pro membership just for showing up and listening to this webinar.
Now, you can go Pro, we’ll put a link in the description below. You can go to biggerpockets.com/pro, but make sure to use the code 24, like the numbers two, four, challenge that will get you 20% off. But let me tell you, if you actually stick around to the end of the webinar, I have another gift for you, perhaps even a greater gift for you. So you’re going to want to stick around and get that as well. All right, so those are the good giveaways. Definitely stick around for it.
Before we jump into it, let me just introduce myself. I am sometimes a host, a guest on this show. My name’s Dave Meyer. I’ve been a real estate investor for 14 years. I’ve invested rental properties, commercial properties. I’ve one lonely little short-term rental, but I’ve been doing this a long time. I’ve also worked at BiggerPockets for a long time, eight years now, and I’m currently the vice president of Market Intelligence. So I get to study the housing market, study real estate and what works well and share that information with all of you. And that’s what we’re going to do in today’s webinar.
So with no further ado, let’s jump into the 90-Day Challenge. All right, to start off today’s webinar, the 90-Day Challenge. I want to tell you all the story of my first deal. I started in 2010 back in Denver. I was waiting tables and I was just really interested in real estate and it took me quite a while to get my first deal. I definitely, I don’t know how many days it took, but it was a lot more than 90. But eventually I educated myself enough and did enough effort and just hustling to get my first deal with the help of three partners. But I made a ton of mistakes over the course of that time and it’s because I didn’t really have a system.
I was just making things up as I went along. I was flying by the seat of my pants and that created a really steep learning curve. And I think when people who are new or just getting into real estate investing think about doing it, they think sort of about my story. They like, “Oh my God, I’m going to be learning everything on my own and it’s going to be really difficult and there’s going to be no one there to help me.” But what I learned over the course of my investing career is that there are systems, there are tools, there are built in communities and networks that help people invest in real estate just like BiggerPockets. And when you use those tools and you use the resources that thousands of other investors have used, then it becomes a lot easier and that is what makes it possible for you to get your first deal or your next deal in just 90 days.
And again, that is the idea behind this webinar, the 90-Day Challenge. Here’s how it’s going to work. Here is today’s agenda. The first thing we need to do is learn the three key steps for successfully finding, analyzing, and funding great long-term rental properties. There are other great ways to invest in real estate, but today we’re going to be talking about long-term rental properties. And again, the three steps to making the 90-Day Challenge work are finding deals, analyzing deals, and then funding those great deals. So that’s the first thing on the agenda. The second thing is to get you buy ready in the next 90 days and some of you might be by ready. If you are, that’s great, that’s going to give you an advantage. But even if you’re just sort of by interested right now you want to get into real estate but you’re not ready yet to pull the trigger, well by the end of this webinar you will be ready to buy within 90 days.
That will happen within the next hour. Then third, we are going to discuss some of the biggest roadblocks to buying your first property. And I think this is really important because there are roadblocks in buying real estate. It can feel really hard, but once we identify them and we talk about them and we figure out how to mitigate them, then it’s pretty easy to move around those roadblocks. So that’s number three. And then the fourth step on our agenda is going to be a demonstration and I’m going to describe them to you. I know some of you’re probably watching on YouTube, some are listening to this, but I’m going to describe how some of the tools and resources that we have at BiggerPockets and that I personally use to find properties, analyze deals, I’m going to show you how to use them so you can do them the same way I do and the same way that tons of other professional investors do.
Now, before we jump into that, let’s just take a step back and sort of set the scene about why you should care about this and why you should participate in the 90-Day Challenge in the first place. So maybe you’re interested in cashflow, that is a very common and great way to get into real estate or perhaps you really want tax advantages. There are a lot of those in real estate. Maybe you want those. Maybe you really like the idea of not working so hard for your money and getting that passive income that comes in like clockwork. Or maybe you like equity and just want to build those big chunks over time. All of those are very possible and very good reasons for you to invest in real estate. But if you’re like me and honestly most of the people that I know who invest in real estate, all those things, cashflow, equity, are really just a means to an end, right?
You pursue those financial goals because you want something more meaningful, something even bigger like a life of financial freedom. Maybe you’re pursuing financial independence, that feeling that you can actually live life on your own terms. Maybe you want generational wealth to change how your entire family’s finances are well into the future. Maybe you want to just feel more secure and build a financial fortress.
But whatever it is, all of these options help you build that true financial freedom and it comes one rental property at a time. And I want you guys to think about before you decide whether or not you’re going to participate in the 90-Day Challenge, ask yourself what that would be like. How would it feel to be financially free? What would you do with that freedom? I mean, it would change everything, right? It would be incredible for you to not have to worry about money and to feel really secure in using your time and your life the way that you want.
And I’m guessing that most of you know this, right? So the question is if it is really obvious why real estate is so great at producing financial freedom and financial freedom is so important, then why doesn’t everyone do it? Well, the truth is that a lot of people have some reservations and I’ve been teaching real estate for a long time, so I’ve heard a lot of these reservations. So let’s just talk about them. Let’s get them out into the open and address some of the reasons you might not want to pursue this. Maybe you’re thinking you don’t have enough money, that’s a really common one. But the truth is that you can take actionable steps right now like today to build your savings and connect with the right people for funding. And we’re going to talk a lot about that today.
Or perhaps another reservation is a fear of losing everything. And that makes sense. No one wants to lose money. That’s not why you get into investing in the first place. But what you might realize over time is that choosing the right deals and making sure you don’t lose money is really just a process. It’s a simple analysis framework. You just figure out, run the numbers and you’ll know what deals are good to buy and which ones you should skip. And more on that in a moment.
Or maybe you lack confidence, maybe you just don’t know what a good deal is or you don’t know where to find the right people. Well, I’m going to teach you about some of the tools that you can use and that will give you confidence to find good deals and pursue them without a lot of the fear that you might have right now. And I know all these roadblocks exist because I had them too.
I know exactly how you feel. I had reservations, it would be crazy if you didn’t have reservations before you knew some of the systems and processes that can help you. So don’t worry, I felt the same when I was in your shoes and I was still able to succeed. And I am not special, guys. There’s no knowledge that I have that you can’t learn. I don’t have any skills that you can’t also learn, but I still did it. And guys, I really am not special. I don’t have any special skills or special knowledge that you can’t learn. I did it because I learned how to do simple, repeatable, proven processes. I have found three steps that I need to take to help me invest in real estate. It’s finding the right tools, figuring out what other people are using and using those same things. Number two is getting the right education and continuously educating myself.
So I’m always learning and always getting better. And third is to surround yourself by the right people. That third one I think a lot of people overlook in real estate, but real estate really is a relationship business and you need to find the right people. So those are the three things. You find the right tools, get the right education and meet the right people.
And at BiggerPockets, this is what we create. If you listen to the podcast, you probably know a little bit about us, but we have a whole website, we have all sorts of tools. We have an amazing community of over two and a half million people and we have made it so you can get the right tools, you can get educated and you can meet the right people all from the BiggerPockets website. That has made a huge difference to my investing career using these tools and using this simple framework.
Like I said, when I first got started, it took me a long time, probably a full year to get my first deal. It took me three years to get my second deal after that, so I didn’t go particularly quickly and I still got to where I am, but I could have scaled so much faster and so much easier if I had used these tools. And honestly, this is not unique to me. This is actually a common story that you hear in real estate. Just take it from Jason Vile. He’s a BiggerPockets user. I found him on the forums. He was talking about this and he said that he just replaced his six figure income with passive real estate income in just three and a half years. That is a lot faster than I will when. So just take it from me, take it from Jason.
These stories are real. They’re possible. You can go look up Jason in the forums and find out. What Jason has learned and what I have learned and so many others have learned is that it doesn’t take many properties to start building the momentum that can set you on a path towards financial freedom. What it takes is just a few of the right properties and with those you can start to supplement your income, you can grow your wealth and that’s what turns into living life on your own terms. When you have the right knowledge and the right tools and the right people, you too can buy your first property sooner than you think. This is not some far off goal that is some pie in the sky thing that’s going to be five years from now. You can get started today and have a property in the next 90 days and I’m going to prove it to you.
So even though there are established ways to do this, there is work involved in getting there. It’s going to take a couple of smart steps to get on the path to building real estate wealth. And I’m going to prove it to you. And guys, I’m not going to say that this is something that’s super easy and that it’s not going to take work. It definitely is going to take work, but it’s not rocket science and it’s just a few small steps that you need to take to get on the path to building real estate wealth. All right, so let’s turn our attention now to the three core steps for buying great long-term rental properties. As you know, there’s tons of options to invest. As I said, you can do flips, you can do burrs, you can do all that stuff. But the most common strategy for BiggerPockets members to attain that long-term financial freedom is the tried and true long-term rental strategy.
So that’s what we’re going to focus on here today. And the three steps to buying great long-term rentals are simple. Step one is finding deals, step two is analyzing deals. And step three is funding deals. So let’s just break these down one by one starting with step one, which is finding deals. In BiggerPockets, we sometimes run these surveys and from one of our recent surveys, we found that finding deals was the second-biggest perceived challenge to investing in real estate only behind funding, which we’re going to talk about in a minute. And notice that I said perceived challenge because finding deals is not something you should be overwhelmed by. There are many good ways to find deals. You can drive around and look for vacant properties, you could run direct mail marketing campaigns, you can go to courthouse auctions, you can pay for prospects lists, you can comb through MLSs like Zillow or one of those other property listing services.
Those are all good options, but the truth is about all the ones I just named is that they take a lot of time and effort and you can try them. A lot of people use them to find amazing deals. But I recommend if you want to save some time, remember we’re on a 90-day time limit here. If you want to save some time, use my favorite way to find deals. And it’s also the easiest way to find deals, which is to get an investor friendly real estate agent.
Investor friendly agents are very different from regular agents and I know someone you might know a lot of agents, there’s millions of there in the country, but there’s a difference between investor-friendly agents and regular agents. And what investor-friendly agents will do is help you find actual deals. Investor-friendly agents think like investors. They understand the numbers that need to exist to make things work. They need to know what the right rent to price ratios. They need to be able to tell you what a property might rent for and what hidden expenses there might be. They’re local market experts and can help you identify the right neighborhood, the right zip code, the right block for you to invest in.
And crucially, this one’s super important, they also have a strong boots on the ground network to help you tap into. So I recently just started investing in a new market and I relied on my investor friendly agent to find contractors and property managers and even a lender as well. So these people have great networks that can really help you and that’s what differentiates them and that’s why they can help you find deals and is honestly the reason the way that so many investors find all their deals. I think I’ve found all of my deals except one or two from my agent. So it is a really common, really easy way to do it.
So you’re probably thinking that sounds great, but how do I find one of these amazing agents? Well, it’s pretty easy. Again, at BiggerPockets we make tools to help you speed up your investing process. All you need to do is go to biggerpockets.com/agent. You can type in some information about your budget, when you want to invest some information about your strategy and you’ll get matched completely for free within two minutes. It couldn’t be easier with tons of great investor friendly agents. I’ve done this myself, I’ve met really great agents and this is just a super easy way for you to find deals. So if you’re one of those people who have been overwhelmed or worried about finding deals in a competitive market or a confusing market like we’re in right now, well this is a great way for you to get around that.
All right, so that was step one. And now that you have sort of a time friendly strategy for finding deals, you need to know how to analyze this deals. And this is one of my favorite, if you don’t know this about me, I really love deal analysis. I wrote a whole book on it called Real Estate by the Numbers. Deal analysis is kind of my thing. And the thing that gets most people hung up on it is that it’s going to be a ton of math and it’s going to be super hard and you have to memorize all these formulas. Couldn’t be further from the truth. If you have the right tools, analyzing deals is super easy and I’m actually going to prove that to you today. I’m going to just walk you through a deal analysis. And before we do that though, I just want to make clear why you have to get good at deal analysis.
And it’s because the simple fact is, even though if you have a great agent, even if you have good deal flow, 99% out of properties out there are not good real estate investor deals. It might be great for a homeowner if you want to live in them, but for investors, you need the numbers to make sense as an investment and a lot of properties just aren’t that way. And so you need to take all the deals that you’re getting from your agent or from elsewhere and analyze all of them to find the best ones. So if you are looking for a property, you may get 50 leads from your agent, right? They’ll send you 50 houses, then you need to analyze like 20 of them and maybe one of those will work.
And that might seem discouraging like, “Oh, I have to analyze 20 deals to find a good one.” That’s just how real estate works, this is how everyone does it. And after I show you how to use the rental property calculator on BiggerPockets that I use, you’ll see that analyzing 20 deals, not really hard. You can do it in a matter of minutes.
Okay, so I’m going to jump into the rental property calculator on BiggerPockets. We have all sorts of other ones for flips, spurs, all that, but again, we’re talking about rental properties. If you guys want to find this later or you want to follow along if you’re watching on YouTube, just go to biggerpockets.com. There’s a little tools in the nav bar and just drop down and go to rental property calculator. Now I found a property ahead of this webinar that we’re going to analyze. It’s in Cleveland and it is a four bedroom, two bath house that is listed for $115,000.
And so when I’m using the calculator, the first thing that I like to do is just put in the property address and then put in some photos so I remember what property I’m looking at. This is a nice looking large gray house. It’s two stories, it’s got a nice balcony on top, pretty good curb appeal too. It’s got a nice green lawn that I can see here. And the interior looks relatively recently updated. It’s not like brand new cabinets, they look like they’ve been painted. They might be from the eighties or something like that. There are hardwood floors, they need to be cleaned up a little bit. So I do think we’ll put a little bit, we’ll assume we’re going to put a little bit of money into it, but overall property looks like it’s in a pretty decent shape. And again guys, I don’t really know anything about this property just to be perfectly candid.
I just am going to give you an example. I’m going to make some assumptions and talk you through how you do this. So first things first, after we put in the property information, what we need to figure out is what we’re going to buy it for. And we’re going to assume that we’re going to spend $114,900, which is what it is listed for. And so for now, I’m going to assume that’s what the purchase price is going to be. The next major expense in analyzing a deal is closing costs. And I’m going to put $5,000 here and I know that because I’ve done a bunch of deals and I know what closing costs usually are for me. But in the BiggerPockets calculator, so if you don’t know this, there’s these little buttons on the side. You can’t see this if you’re listening to it, but there’s these little buttons on the side that will tell you rules of thumb and all sorts of tips and tricks that you can use to fill out some of the questions in the calculator that you might not know the answer to.
So for example, purchase closing cost, a little tip here says use one and a half percent of the property price. So that’s really helpful if you’ve never bought a property before. Okay, I’m also going to assume that we’re going to spend some repairs. So I looked at the house quickly, it looks like it’s in decent shape, but I do want to clean up those hardwood floors. I’m going to assume that there’s about $5,000 of repair and that if I can do that, I can increase the property value. It’s known as the after repair value up to $125,000. So those are my major expenses going in. Again, purchase price, $115,000, repairs, $5,000 and purchase closing costs $5,000. Now let’s talk about how much of a loan we’re using. So we just talked about purchase price, but most people don’t want to pay all $115,000 out of pocket. You want to take out a mortgage.
So I’m going to assume that we’re going to use the most common amount for real estate investor to take out, which is 75% is going to be a loan and 25% is going to be our down payment. For interest rates, right now they’re about 6.75%, so I’m going to write 6.75% for my interest rate. And I’m going to assume we’re going to use the most common loan term, 30 years. So this is a pretty vanilla loan. For real estate investors, you usually put 25% down for a 30-year term. That’s it. So we’re flying through this guys. We’ve already talked about property info, purchase, loan details. Next comes rent. This is obviously really critical. You need to know what you can get in terms of revenue for any property that you’re analyzing, but BiggerPockets has a tool for that. It is very, very easy.
So just scrolling through here, I can see that the BiggerPockets Rent Estimator estimates that the rent for this property is $1,300. And it also tells me that the confidence is really high in that number. And so I can click into this and learn more and see that there are a lot of comps in this area for four bed, two baths, similar size, similar year built and that they’re renting for about $1,300 bucks. So while I’m running this deal and trying to figure out whether this is one, I should potentially consider making an offer on that. I feel pretty good about this rent, so I’m going to stick with it. $1,300 sounds pretty good to me. And that’s about it. We have one more thing to talk about in rental analysis. Hopefully you guys can see that this is not very complicated.
We put in purchase info, we put in loan details, then we estimated rent, which BiggerPockets did for us, and now we go to expenses. Now BiggerPockets again has already pulled in the property tax information for us, which comes out to $62 bucks a month for this house. And for insurance, I did look this up ahead of time, it was estimated about $83 per month for insurance on this property. The last thing for expenses that we really want to do, it’s not the last, we have two more actually. So the last couple of things we need to talk about are what are known as variable expenses. So these are things that might change month to month like repairs and maintenance or capital expenditures. And so what I like to do is to use a percentage of income to estimate how much money we need to keep in reserves.
So for repairs and maintenance, I’m going to say 5%. For capital expenditures, I’m going to give another 5% for vacancies in case I have a hard time or getting a renter from time to time, I’m going to allocate 8% and make sure that that doesn’t count towards my income because I’m setting that money aside to make sure that my numbers still work, even if there are vacancies and even if I do have to make repairs. So that comes really easy on the calculator. I’m also going to put in management fees. I live out of the country and so I have to pay property managers and I usually pay them about 8%, which is what I’m going to put in here.
Now if you buy a duplex or a small multifamily property, you can put in information on the calculator when you’re analyzing a deal for some other expenses, some things you might want to consider like electricity, gas, HOA fees, any of that. If you as the landlord are paying it, you want to put it into your deal analysis.
But this home, this one I just picked up kind of randomly is a single family home. And so as an investor, typically if you own a single family home and rent it out, you just have the tenants take over the maintenance, excuse me, take over the utility contract. So they pay their own electricity, they pay their own water and gas and so on, and that makes it really easy. So I’m going to make that assumption. So that’s it guys. That’s all it took to analyze a property. I put in purchase information, loan details, rental income and expenses. And now I’m going to just hit update analysis and see what we get here. And what I found now is that this is actually a pretty good deal. I kind of picked this deal randomly.
I know that Cleveland offers good cashflow, so I wanted to pick in a market that probably has good cashflow, but what it shows is that this property, just using my assumptions, would get about $260 per month, which is good for an 8% cash on cash return, which is really, really good. I can also break down all sorts of other really helpful stats like my analyzed return profit, if I sold it, how much I would walk away from, and that’s really all it takes to analyze deals. So hopefully you guys can see that even if you have to analyze 20 deals or 30 deals to find that first deal or your next deal, by using the right tools like the one I’m showing you here, it can become really quick to do it. I was just jabbing on and talking to you about this and it took me like five minutes. If I wasn’t talking, I could probably do this in two minutes or less and you can do the exact same thing.
The last thing I want to share with you about this is that you can print these out in a really professional looking way, which is super helpful for finding partners or finding lenders, which we’re going to talk about in just a second. So I hope that after this demonstration and description of what’s going on with the calculators that you can see that deal analysis is something you can learn right now. So we’ve already knocked out two of the things you need to do to complete the 90-Day Challenge, which is fine deals gave you some recommendations there and then analyze deals, which I just showed you how to do. And that’s pretty cool. You can go and start getting this practice in. And I think that’s super important.
It’s kind of like preparing for a presentation at work or any other skill that you want to learn. You got to just practice it. And so analyzing deals is something you may want to practice so that when you find the right deal, you feel very confident in your numbers and you’re ready to go pull the trigger. That’s it. Now you’re getting leads, right? You have the tools to analyze deals. What comes next? It is our third step, which is funding deals. There are a lot of ways to fund a real estate deal. You can do conventional loans, you can do hard money loans, you can do private money partnerships, so many different ways to do it. And our surveys, I was talking about some of the surveys we do at BiggerPockets before our surveys show that funding is actually the number one challenge in buying real estate.
And I think that kind of makes sense. A lot of people, if you don’t have the money, you’ve never done this before, assume that it’s really hard. But the truth is that if you find the right property funding deals can actually become a lot less stressful. And I know this seems kind of counterintuitive, but think about it for a second. If you’re an investor and you’re able to identify great deals, people will want to fund those deals. If you go to an investor and show them that little PDF I was just describing and say, “Look at this deal, it’s got an 8% cash on cash return, I’m going to make a 17% annualized ROI,” then a partner or a lender or a bank is going to be like, “Yeah, that is a safe investment to lend to this person and I feel comfortable lending to them.”
That’s why we do this in the order. That’s why finding deals comes first, then analyzing deals, and then the last step is to fund those deals because it will be a lot easier to fund your deals once you find good ones. So hopefully that makes sense. But you’re probably wondering how do I even find a good lender in the first place? Well, again, at BiggerPockets we make this super easy for you. We have a lender finder that can help you find investor friendly lenders who can help you get funding. They understand all the different types of loans that are available to investors and which ones are right for you and your strategy. Again, all you need to do, just go to biggerpockets.com/loans and then enter in some basic information about what you want, what your budget is, how big of a loan you’re looking for, and you’re going to get matched with an awesome lender who can help you figure out your options.
So that’s it guys. These are the three core steps. Just to recap. Step one was finding deals. Step two was analyzing deals. And step three was funding deals. So the question is, are you going to do this? This is the 90-Day Challenge. So let me ask you, are you willing to commit to spending just 15 minutes per day on each of these steps five days a week for the next 90 days? And you don’t have to do each of these things every day. So some days that might be 10 leads per day, look getting 10 leads from your agent. Some days it might be analyzing two or three deals or five to 10 in a week. Or maybe one day you’re just going to be like, “I’m going to spend 15 minutes and call two lenders.” That sounds doable, right? When you first start investing, you’re thinking about building a portfolio and all these things you have to do, it’s kind of intimidating.
But when you break it down into these small bite-sized pieces like meet an agent, look through some leads, analyze a deal, talk to a lender, it becomes almost comically simple, right? You’re not going to find the right deal on your first try, but if you stick to this, if stick to these three simple, simple processes for 90 days, I’m confident you can find that right deal because I’ve seen it. I like this quote by a guy named Jim Rome who says, “Ghat life doesn’t get better by chance. It gets better by change.” And this is so true about real estate, it’s not really rocket science. None of this is hard. Hopefully you can see from this presentation, this is easy stuff. The hardest part is dedicating yourself to it. So I think the question you should really be asking yourself now that you know some of these things is are you willing to make the changes in your own life to get that next deal?
And I know that it can feel for newbies that you’re jumping off a cliff and there’s all this risk associated with real estate investing. But take it from me, an experienced investor in the hundreds or thousands of other ones I know and work with and have seen succeed, that it is not jumping off a cliff. It is more like a gentle, uphill, lovely hike with your friends. There are communities that can help you. There are tools that can help you. And yes, you’re going to have to put in a little effort, you are walking uphill, but it is not like you are going to be taking these huge risks or walking off a cliff or anything like that. And I know this because at BiggerPockets we build tools to help investors on their journey and to make it easier for them to get on their journey towards their life goals.
This isn’t theory, guys. This is not something that I’m just making up and presenting to you at a webinar. This is how thousands of real estate investors, including myself, have found financial freedom. So as we start to wind down the webinar, there are two big questions I want you to ask yourself. First is, are you fired up? Because I hope you are. I hope you are truly committed to using real estate to obtain financial freedom. Are you? The second question is, will you take on the 90-Day Challenge and commit to working on the three core steps, 15 minutes per day, five days per week for the next 90 days? Now, if you say yes to those things, then I feel very excited for you and confident that you are going to do well in real estate.
But unfortunately, information like the information I’ve presented to you today is not everything that you need. Because if information was enough, then everyone would be doing this, right? So what then is the key to success? Well, it’s action. It is taking action and actually committing yourself to moving forward and doing the things that we’ve discussed today. I know that sounds really, really simple, but daily consistent action is what separates real estate investors who go on to succeed and build a portfolio and the people who get stuck just wanting to invest but never actually pulling the trigger. I’ve seen this from so many other people on BiggerPockets that this type of action, this commitment, the 90-Day Challenge actually works. I recently ran across another forum post for someone named Jason and he talked about how his experience in buying a cashflow property came from the 90-Day Challenge because he dedicated himself to that 15 minutes a day, five days a week for the next 90 days.
And I know it sounds comically simple because it is, guys, this is really possible. Now, I don’t know why any of you are listening to this today, but I suspect it might be because you’re tired of working your full-time job or maybe you want to start preparing for your future retirement. Those are good goals. Or maybe you don’t want to be a wantrepreneur anymore and you want to actually start building a business for yourself. I don’t know. But those are pretty common reasons people find themselves on webinars just like this. But what I do know is that real estate investing really works, but you have to work it. You have to put in work to make it work for you. And at BiggerPockets, our goal is to help you work your real estate business in as simple a way as possible to help you get to your goals as fast as possible and with the least amount of pain.
And so with your permission, I’d like to make a special invitation offer to all of you to upgrade your real estate investing toolbox with BiggerPockets Pro. BiggerPockets Pro has basically everything you need to succeed in real estate investing. We’ve got tools, it’s got content, the community, services, it’s all here. Some of the highlights are of course the calculator that I showed you, but you also get leases, you get rent estimators and the tools to help you in your three steps. So that’s finding deals, we’re going to help you with that. Analyzing deals and funding your deals.
Altogether, BiggerPockets Pro is truly a one-stop shop to start scale and manage your real estate portfolio. And if you’re wondering that sounds too good to be true, how can one subscription possibly provide all those things? Let me just take a couple minutes to dive in. So first and foremost, you’re going to get this amazing analysis tool, which to me is honestly the most important part of real estate investing is being able to spot good deals and ignore bad ones.
And BiggerPockets Pro offers unlimited use of our calculators. There’s actually nine different calculators and off market deal finding software from Velo, which is worth like over $600 bucks on its own. It also, BiggerPockets Pros in addition to analysis, helps you get up the learning curve quickly by attending our boot camps for 50% off. These are opportunities to learn from some of the best investors in the business like Henry Washington or Ashley Care and get some really intimate, direct interaction with experienced investors who can help coach you on your specific challenges and what you’re working through in your 90-Day Challenge.
It also helps you supercharge your network. Being a Pro gets you into the more serious community. At BiggerPockets, every member of our community is valuable, but Pros are more likely to do deals and to do deals with one another. So by going Pro, you show people you’re serious and get into that sort of higher tier of the community.
There are also all sorts of other tools in what we like to call your landlord command center. So if you want property management software, we got it for you for free. That’s from Rent Ready. Usually costs 240 bucks. You get it for free as part of Pro. If you want portfolio monitoring to see how good your deals are doing accounting software, we got that for you from Stessa. Do you want lawyer approved lease agreements? We got that for you for all 50 states. So when you put this all together, you can see how this helps you across your entire investing portfolio and across your entire investing career.
Now, that probably sounds pretty good, but there are a couple other things that you should know. First and foremost, Pro is tax-deductible for a lot of people. So if you talk to your CPA, you can deduct the cost Pro from your taxes. And the most important thing about why you should go Pro is that it actually works. Take it from Aaron C, who is a BiggerPockets Pro member. He says, “That there is no way I could analyze the volume of properties I do without being a BiggerPockets Pro member.” Remember, that is important. Doing volume of analysis is important, and that’s what Aaron uses Pro for or take it from Beth who says, “It’s the foundation of her real estate investing endeavor.” She cites the valuable tools, the connection to the agents and all the information that she needs as why she is a happy, satisfied BiggerPockets Pro member. There are so many other stories like this. I encourage you to go on the BiggerPockets forum and check it out for yourself.
So you’re probably wondering how much this costs, and I think it could easily be thousands of dollars. If you added up the value here, it could be over $5,000. But at BiggerPockets, our mission is to help ordinary Americans understand and utilize the power of real estate investing. And so we price our products accordingly. And BiggerPockets Pro is normally just $468 per year, and that’s pretty good. But at the beginning, I told you for joining this webinar, we would give you a special treat, which is 20% off Pro. And if you go Pro Annual a year of Pro for just $312, that’s $156 off in savings that you’re going to get just for listening to this webinar. But there’s actually a lot more, I’m feeling very generous. BiggerPockets is feeling generous, and we want you to get into take the 90-Day Challenge and get started. So we’re going to offer you a few more things.
First is the Show me the Money Starter Pack. This includes additional content like our nine-hour Low and No Money Down workshop, our six steps to eliminating debt and other worksheets to help you if you don’t feel like you have the money to get started, figure out how you can fund your first deal. That’s valued at 4470 bucks. You’re getting that for free if you go pro today. Second one, one of my personal favorites. It’s called Demystifying the Housing Market. If you know anything about me, I love analyzing the housing market. I love demystifying it. And so I’m going to give you my state of real estate investing report, a video on investing in an uncertain economy and a guide to how to invest in changing economic conditions. That’s worth over $500 bucks, but you’re getting that for free.
And the last one is Ace Your Analysis, which is coming directly for me. I’m giving you all, if you go Pro today, my book Real Estate by the Numbers for Free. It comes with an Excel master file that will help you upgrade your analysis and video tutorials on how to become eight expert at running deals and doing rental property analysis.
So all those things together, you get to Show Me the Money Starter Pack. You get to demystifying the housing market and ACE your analysis toolkits if you go Pro today. And the best thing of all of this guys is if you want to buy it, go on, try it, and if you don’t like it, we’ll give you your money back. BiggerPockets offers a 30-day free, a hundred percent refund, no questions asked. So if you use Pro and you don’t like it, we’ll give you your money back. We want people who go pro to actually use these tools in the 90-Day Challenge or in their other efforts to become financially free through real estate investing.
So just to summarize all these bonuses, the bonuses alone are worth $1,700, but if you upgrade for Pro today, you’ll get them for $312, but you got to do it today and you need to enter the code 24 challenge. So just go to biggerpockets.com/pro and enter the Code 24 challenge, that will get you the 20% off as well as the starter pack, the demystifying the housing market bundle and the Ace Your Analysis toolkit.
So that’s all I got for you guys today. Thank you so much for listening to the webinar. I really appreciate you spending this time with me. I hope that you can see that you can get started on your real estate investing journey today. The 90-Day Challenge is all about giving you the tools, the knowledge, the information that you need to get started. And all it takes is 15 minutes a day, five days a week for the next 90 days. And I’m confident if you use the right tools, surround yourself by the right people and get the right education, you can get your first deal or your next deal in that timeframe.
My name is Dave Meyer. Thank you guys so much for listening. If you have any questions for me, you can always find me on the BiggerPockets forums or you can message me there. I look forward to seeing you as part of the Pro community.

 

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