3 Tips to Have Complete Confidence in Your First Offer

Making an offer on your first rental property can be intimidating. It's different than buying your primary residence, your investment can be made or broken at this point. In this episode, we give 3 practical tips for you to gain confidence in your numbers and start your investment journey off on the right foot. --- Transcript Emil: Hey everyone, welcome to another episode of the remote real estate investor. My name is Emil Shour. And I've got my co host with me,   Tom: Tom Schneider,   Michael: and Michael album.   Emil: In today's episode, we're going to be talking about how to feel confident enough to make that first offer. This is something we see all the time newbie, someone who's interested in real estate, they're looking at properties. And they'll they'll either run it by a friend of theirs, or they'll send it to us in the academy. And, you know, they'll say, Hey, I looked at this one looks pretty good. What do you think? Should I make an offer? Right? That's the main question, should I make an offer. And so the goal, this episode, we're going to give you our top tip, each of us is going to give you our top tip, so that you feel confident that when you find the right property, you will make that offer that first offer. So let's hop into this episode.   Alright, guys, so I don't know about you, but this one has come up for me time and time again, right? Like someone will send you a link send you a link to a property on roofstock or Zillow, or realtor or wherever and just kind of be like, what do you think? Should I make an offer? Have you guys had that happen before?   Tom: Is this a good property?   Emil: Yes!   Tom: Is this a good deal?   Emil: There you go.   Michael: That's probably the number one question I get in the academy is students asking that, because nobody wants to buy a bad deal. Nobody wants to be that person that bought, you know, an alligator bought a bad deal. And so that's, I think, what's on everybody's mind. But I'm excited today to talk to you guys about how to get over that. And then maybe some different questions that they could be asking either of us in the academy or of colleagues or other investors.   Maybe that would be good to chat about as well as what other questions can be asked to decipher? Is this a good deal without just saying, Hey, this is a good deal? Because good is such a relative term.   Tom: Yeah. And having confidence? I mean, that's what the episode is about, like, what are? How do you build confidence in the process and all that good stuff, submitting an offer.   Emil: Totally. And just for the record, I did this as well, I sent it to people I knew who were who had experienced buying real estate. And I did the same thing. So I'm not saying you know, it's bad that you're doing this. It's a very, very common thing. I've done it. I don't know if you guys did, but it's common. And our goal is just to help you feel a little more confident so that you can you can walk in and put an offer in and feel good about it.   Michael: No, I totally did this. I mean, I I still do this. The questions I'm asking are more sophisticated. Now, thankfully, because I'm learning. But I think it's important to bounce ideas off other people I think I don't want to ever be think that I know everything or that I'm the smartest person in the room. And so think that Oh, like why bother asking someone I already know the answer. No, I think that's totally the wrong mindset.   But again, I think calibrating the question to get more of a useful response, as opposed to is this a good deal? I think is really, really important. And that comes with time, because when you're just starting out, you don't even know what questions to ask, let alone what the answers mean.   Tom: Pealing in the onion peeling in the.   Michael: That's right. And hopefully not crying.     Tom: Sometimes that's okay, too.   Michael: Yeah, that happens. You know, it's good.   Emil: All right, guys, who, who wants to kick us off w