How to Buy Your First Rental (8 Beginner Steps)

Ready to buy your first rental in 2024? Welcome to real estate investing for beginners! In under fifteen minutes, you’ll have all the steps you need to find potential investment properties, analyze them to ensure they make money, and buy your first rental property this year! But that’s not all; you’ll also learn what to do AFTER you close, so running your rental property can be a breeze instead of a headache.

Who’s teaching this beginner’s guide to real estate investing? James Dainard! He’s done thousands of real estate transactions, from buying rental properties to flipping houses and beyond. James is an investing veteran with almost twenty years of experience through many booms and busts. His consistent system for buying great properties has allowed him to amass a HUGE rental property portfolio that spits out hundreds of thousands in passive income EVERY year.

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00:00 Is Now the Time to Invest in Real Estate?
03:35 1. Choose Your Market
04:50 2. Get Pre-Approved
05:41 3. Learn to Analyze Deals
07:05 4. Look for Properties
07:54 5. Analyze the Property
08:59 6. Make An Offer!
10:05 7. Close!
10:32 8. Manage the Property
12:46 You're Ready to Invest!

[rodramos]

James great show, like always you give lots of good info and inspire us rookies that are trying to get into real estate investing.

In my situation I’m not sure what would be better to use my HELOC or to cash out some of my 401(k) to use as a down payment on a rental property. In today’s market, what do you think would be my better option?

[samuelwalford]

I always enjoy your content and expertise! Does your brokerage company service or advise in NC or FL?

[faYte]

Rates are temporary and go up and down. But going down is never guaranteed, and never will be back down to the 3% we saw, not in our lifetime.
A lot of assumptions placed into this video but we all have to be realistic. I think a follow-up video this is discussing the impact of rental cash flow during high vs low interest rate markets.

[caseybutler]

Whats ur go to for the amount of cash flow a property should have after all expenses, if u would give me a 4 plex example as well as a single home, thank you have a good day the information in this video is very helpful

[Man-u-flex]

Yea the only catch is you have to wait 3 decades of appreciation

[aprilvancleve]

Does your hat in the back say DTF? If so, do you know what that stands for?? 😅😅

[apauln]

this info is not for someone who doesn't know anything about the industry.

[redtiger]

Basically this is the same crap we been fed for year "it worked for me just do this" Times are vastly different. What BP offers simply cannot work in the modern environment. You will end up poor. Let's so the numbers; you buy a $400k unit, put $80k down. Monthly payment before insurance, taxes ect is roughly $2, 100. I only looked up DFW, Orlando and Miami. A unit of that price is going to rent out for $1500-$3000 depending. Best case you are cash positive each month $100. You're ROI is still negative because of that $80k down. Rates are not expected to come down for the next 3 years. The reason is the FED needs to reduce M2 and take purchasing power out of the hands of the average citizen. Property investing can work but never in the way BP presents it.