Ep. 87 – Scott Oots – How to Buy a Rental Property

Have you been thinking of owning a rental home as part of your retirement plan? What is the best way to buy a rental property with a positive income and that can be affordably managed?

When buying a rental property, you want to buy a property that will start making money for you without having to wait for years. Purchasing an off-market rental property will allow you to start making positive income right away and afford property management. 

In this episode of the Secure Your Retirement podcast, we invited Scott Oots to talk about the value of the off-market rental property business as part of your retirement planning. Scott Oots is an entrepreneur who owns multiple businesses mainly focused on the area of real estate investing. 

In this episode, find out:

• Scott on how he started in the business of rental properties.
• Understanding the current real estate market and what could possibly happen in the future.
• The best way to purchase a cash-flowing rental property and avoid waiting to start seeing ROI.
• The value of buying an off-market property versus buying an on-market property. 
• The payment options available for most off-market properties.
• Understanding ‘hard money’ and why it is the better option when buying off-market rental properties.  
• The process of property due diligence that Scott uses with his clients.
• Scott on how his team does marketing and customer service to connect with sellers and buyers.

Tweetable Quotes:

• “There’s a lot of positives coming with buying an off-market property vs. looking at buying an on-market.”– Scott Oots
• “There’s no point in buying a house if you’re buying it already rehabbed and you’re paying 110 percent of market value.”- Scott Oots
• “We are a relationship business; we want them to keep coming back over and over again.”- Scott Oots

Get in Touch with Scott Oots:

• Facebook: https://www.facebook.com/thescottoots/ 
• Instagram: https://www.instagram.com/thescottoots/ 

 Resources: 

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

 To access the course, simply visit POMWealth.net/podcast.