230: Rookie Reply: The 1% Rule, Turnkey Rentals, and Escrow Accounts Explained w/Zach Lemaster

Real Estate Rookie

Is the 1% rule in real estate still relevant? Who shouldn’t be buying turnkey rentals? And why is an escrow account favorable for scaling real estate investors? All these questions and more are coming up in this Rookie Reply.

We’re back at BPCon 2022, and joining us is fellow investor and turnkey operator, Zach Lemaster. You may have heard Zach’s episode on the BiggerPockets Real Estate Podcast or maybe you’ve used his turnkey company, Rent to Retirement, before!

Zach helps us answer an array of questions, some from semi-passive turnkey investors and some from active investors. We touch on investor lines of credit and how to secure them, the 1% rule’s relevance in 2022, whether or not to get preapproved before finding a deal, buying off-market, and much more! Zach also poses three questions every investor should ask BEFORE investing in turnkey rentals.

If you want Ashley and Tony to answer a real estate question, you can 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

Where to find investor lines of credit and which banks are your best bet

Should you get an appraisal on an off-market property?

The 1% rule explained and how it’s holding up in 2022 (and beyond)

Escrow accounts and which types of investors should optionally enroll in them

Who should (and shouldn’t) invest in turnkey rentals and the questions you should ask your turnkey provider

And So Much More!

Links from the Show

Find an Investor-Friendly Real Estate Agent

Ashley's Instagram

Tony's Instagram

BiggerPockets

Real Estate Rookie Facebook Group

Real Estate Rookie Podcast

How “Turnkey” Rentals Can Help You Build Real Estate Riches Faster

The One Mistake That Almost Put My House in Foreclosure

Rent to Retirement

BiggerPockets Calculator

Connect with Zach:

Zach's BiggerPockets Profile

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-230

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