This episode focuses on the current state of real estate when it comes to investing in and purchasing rental properties. My returned guest, Lisa Philips, Investment Property Coach, here to talk with me about the metrics of what to look for when looking to purchase their first rental property during this time of inflation and a mild recession. 

She talked about how we need to pay more attention the areas that are best to purchase properties based on the state of that market; the interest rates, the cost of contractors for renovations, and even the low cost of properties to purchase both locally and/or in other areas. We discussed how to vet out the different properties and taxes within the various markets. For instance, what are the pros and cons of purchasing a moderately newer home vs an older home which will require more up to date and costly renovations to be done. She also mentioned how she coaches her clients on how to purchase their rental properties by putting it on a business credit mortgage where oppose to purchasing a loan that will go directly on your personal credit by either borrowing from your current equity from your personal property value.

She shared insight on how she coaches her clients on purchasing rental properties for as low as between $30K-$60K. Thanks so much to my guest, Lisa, once again for sharing such great insight on how to really do your research on what the current market is and where it's headed when it comes to potentially buying property in areas that are soon to be gentrified.