Buying your first rental property [Full Guide 2023]

#realestate #rental

This is the definitive beginner's guide on how to buy your first rental property.

0:00 Intro
1:55 Types of Real Estate
4:08 Why Real Estate
6:10 Pre Step
8:03 Step 1
9:21 Step 2
10:30 Step 3
14:16 Step 4
22:26 Step 5

[tahirisaid]

Investing your life savings in a rental property without certainty of returns can be risky. It's crucial to thoroughly evaluate the investment potential before diving in. I've learned that making wise investments is key to building wealth. It's not just about investing money; it's about investing smartly to secure a prosperous future. Here's to making informed decisions and achieving financial success!

[NicholasBall]

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

[jimmydan]

Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.

[berryirl]

one of the FEW videos that are actually helpful and not just about spending a lot of money!!! thank you

[giovannimartinez]

Amazing video! I’m 24 and want to get my first property. I think that calculator would be a great tool for me and others. A video like that would be awesome! Keep up the great work!

[xzwgshh]

Hey John! Great video, really helpful information on getting a rental property. Super excited to see a video breakdown of how you setup your deal calculator!

[neakzie]

I love the information you share, hopefully this will come in hand. Thank you!

[RobertTorres_]

I remember watching my first real estate 101 with graham Stephen years ago talk about how to buy your first property. That catapulted me into being heavily involved in the credit card, real estate and finance community overall. I hope this video inspires the next guy how it did for me years ago.

[itsnotme]

Great stuff John! Thanks for sharing!! Totally agree with putting your eyes on the property and walking it. My current place, looked great with photos (of course it did) and all the numbers/amenities, etc. Then I visited the place for a walk through. Couple cracks in the drywall/plastering and a 2.5 in drop (just felt weird) in the floor from one side to the other of the house. $35000 later, everything is level, no I did not pay for that, seller did. Plus...if you're a newbie buyer...and you probably are watching this...make sure to ask your RE Agent questions. They know what/how to show things to people but because of their experience, they also probably know of what things to look for, especially if it's houses/apartments/condos that are similar in an area. "I sold 3 of these last year, all needed new sewer lines due to age/type, etc"....then you know you gotta add that to the inspection for sure!
And YES, you DO NEED an INSPECTION! The cost will save you

[laparistaylor]

I subbed because instead of saying “hey if your going to watch this video like and subscribe” you said “Go do something” I love that!!!!

[phytostratis]

You are amazing! Thx for sharing your passion … this is so valuable

[AveryHeilbron]

Thanks for the shoutout John & a great how to for everyone out there!

[VivekMogalapalli]

This information is priceless. Thank you for doing this, John! Would love to see more real estate investing videos. Also, could you do a video on how you screen your tenants?

[_pyox]

Seems like this guy gets every angle of investing, I appreciate the simplicity 💯

[kingbthegreat]

Having access to that calculator with be extremely beneficial and encouraging when scouring the web for properties.

[poopdeckpappy]

Thank you for putting this content together. My wife and I are planning to do the exact same thing and you have opened our eyes to some elements that we hadn't considered and also have gotten us excited to buy our first property. We are also in MA and looking at properties in the South Coast area. Please send us your calculator as it will be super helpful. Thank you again and we'll keep you posted!

[Drjinannasser]

Thanks for the great video! I’d love to get access to the calculator you used! Keep up the great work!

[epictravelsss]

I LOVED the calculator and I definitely want a in depth video on how to create one of my own!

[taemoney]

Please do an in depth video on the real estate calculator

[ronnyheredia]

Another great video, keep up the great work!