BiggerPockets Real Estate Podcast 703: The 6-Step Guide to Buying Your FIRST Rental Property
Define Your 'Why'
- Define your "why" for real estate investing, similar to fitness goals.
- A strong purpose fuels long-term commitment and helps you overcome challenges.
Pick One Niche and Strategy
- Start with one real estate niche (e.g., single-family) and one strategy (e.g., buy and hold).
- Study your chosen market thoroughly, even if it's not local.
Find Deals and Hidden Potential
- Find deals through realtors, online listings, or direct mail.
- Look for hidden potential that other investors miss, like adding square footage or rental units.
Don’t think you know how to buy a rental property? Give us just one hour of your time, and you’ll be able to score your first investment property in the next ninety days! No gimmicks, jokes, or get-rich-quick schemes—David Greene and the BiggerPockets team designed this plan specifically for rookie real estate investors who want to get into the investment property game as soon as possible. So, if you’ve been waiting on the sidelines, hoping to one day reach financial freedom, now is the time to plug in and get ready to invest!
David Greene has been investing in real estate for over a decade. Before that, he was a police officer working almost every day of the week, scraping enough money together to buy his first rental property. He reached financial freedom in only a few years, but it took grit, determination, and a tenacious effort to keep moving forwards. Now, he wants to teach you how to do the same, by buying your first rental property in 2023, even with the wild housing market we have on our hands.
David walks through six actionable steps you can start taking to get your first property under contract in just ninety days! If you can carve out fifteen minutes of your workweek for the next few months, we know you’ll be closer to investing than ever before. Anyone can follow these steps to start buying real estate, no matter how much experience or money they're starting with. Ready to invest? Hit play!
In This Episode We Cover:
How to buy your first rental property in ninety days (or less)
The six steps ANY investor can take find, analyze, fund, and buy an investment property
Where to find real estate deals and the easiest (and hardest) way to do so
Analyzing a live deal using the BiggerPockets Rental Property Calculator
Funding your first rental property and how to do so even if you have no money
Why real estate investors LOVE BiggerPockets Pro (and why you will too!)
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Sign Up for BiggerPockets Pro and Use Code “GOALS2023” for a Special Discount
Already a BiggerPockets Pro Member? Get the Bonuses from Today’s Webinar
Find an Investor-Friendly Lender
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-703
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