How To Buy Your First Rental (8 Beginner Steps) 

"If you realky want something, you'll find a way. If not, you'll find an excuse." I needed that.

The best time to start was yesterday in real estate. The next best time is NOW.. Take action

One of the most important things for me has been to understand it’s the long game. I’m not into the quick money game. Multi Family Real estate is all about the hold. Get rich over time. Rental real estate is the most forgiving investment. Slow and steady allows you to compound.

My first rental was a 4 bedroom me and my partner purchased and rented 2 of the rooms that covered the mortgage with extra to spare! That was just the beginning....

Can't believe we can get this knowledge and wisdom for free

I love Bigger Pockets! Thank you for everything you share with us Brandon.

Great information. I appreciate the help, will be purchasing my first rental property (3 or 4 unit) in a year and getting things prepared. Will be recommending the video to others as well.

I love your high energy and yes it's something to be excited about. With real estate you can't go wrong. The odds it would not be profitable are like being struck by lightning!

It has been well over a year since I listened to you Brandon (side tracked with other things) and look at your amazing beard!! I love it! Glad to see you and your family made it out to Hawaii! Shaka Bra!

My new years resolution is to buy my first home / rental by the end of the year. Already have an agent sending me properties. Going to learn how to analyze them now!

Is there a video on how we can determine where to buy property? Do you look at price to rent ratios first? Community, sales prices, taxes and rental laws for LTR vs STRs? Thanks

Shout out from Maine ! cant wait to get started... im in the education phase of all of this but i'm super excited.

Good information! Very broad and gives us the opportunity to learn and confirm on our own. THANK YOU!

Awesome video! I was able to follow along the whole time. Thank you!

Super helpful! I train jiu jitsu too! It's a great metaphor on starting something new and working towards any goal.

ThanksFor the video it’s encouraging because I was looking into long-distance rental properties but my family keeps telling me that is a set up for disaster. Thank you for reassuring but it’s possible and OK to do. You just picked up a subscriber

Amazing breakdown!! 🙌

As someone who's done jiu jitsu your analogy about choking out an frail old lady made my day. Thank you for your knowledge on this video. I'm done payin rent!

thank you for this knowledge!

I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly basis via my investment and got 5 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this

Great video Brandon 👍🏼🙌🏼👌❤️Thank you!!🙏🏽

Very helpful video with great tips for the people who are new to real estate.

So helpful. Thank you

Awesome..thanks. I love your books too man

This is golden information man. Thank you.

Nice! Thanks for telling people to start with a Realtor. California Real Estate Agent here if you need any help! Loving all of this!

Step número uno😀 nice I choose to invest on the beautiful coast of Spain. I'm steps away to get my second property there. I'm over the moon 😀 I have so much to learn but I still believe that taking action is more important than knowing everything!!!

Thank you for sharing your wisdom!

This is exactly what I was looking for. Thank you

Brandon, thank you so much for all the tips.

Can you do a video on the pro/con of 15 /30 yr mortgage if it’s going to be a rental property

Great information well received…. Thank you

I've BEEN ready to do this. My only set back is I live in a small town where there's no good real estate for sale. And I don't have the money to buy something and fix it up. And I wouldn't feel comfortable buying something very far out of state that I can't hop out of bed and be there if need be

Can you guys do a video or rec a vid on purchasing foreclosures?

I live in a duplex and rent out half. It is God sent, because rent has gone up like crazy in the Portland, OR area. Water is a big expense here too.

Thank you for this video 💯💯

Totally agree. great video. As they say landlords grow rich in their sleep without working, risking, or economizing.

This is a great place for me to start. Thanks for the info

Loved the video, straight to the point and very helpful!👍

Thank you! Great video!

Whoa whoa whoa, Maui?! Same here. I’m always depressed by the prices here. How can you start here? Love to see a video or some advice on starting in an expensive market; Hawai!

Great video! I started my channel about real estate investing recently and this is good advice.

Great introductory video for newbies! I liked the part on carrying out due diligence and always keeping a look in on your properties - thank you!

Good Video l learned a lot about getting into rental properties. I am new to the real estate industry.

Before you invest in your first rental property, should you establish your own business by forming an LLC or something like that?

Valuable information👍🏾

Just found your channel visited hundreds of other channels seems like everyone trying to keep it a secret 🤫! Worlds big enough to share Thanks for your advice .

Thanks sir great advice

omg this is Brandon Turner..... loving his book right now.

Thank you Brandon

I'm jumping in next month. Wish us luck! 👌🏽🤞🏽

Finally something useful, thank you!

Would you keep renting a property for you to live in, whilst you pursue building up a rental property portfolio? I could probably pay off a property in my area in 6.5 years, with a repayment mortgage rate of 2.49%. I could buy a rental property outright and obtain a (gross) return of 22% pa.

Brandon, I have had the pleasure of listening to many of your audio books. I have purchased my first fixer upper and while it was a single-family home, I was still be able to house hack as I rented a room to my sister rather than her stay in the dorms of the local university. I recently flipped a property and am looking to roll the profits into my next BRRR property. Thank you for all of your insight!

Strong work!

Nice! Some GREAT information here

imagine having him as a mentor haha awesome

Finally a video where they don’t just talk about the why it’s the how too thank you

I’m 24 years old and just got into RE, I really want to do this and I wont give up ! Ready to get out of my comfort zone :)

Going through my journey of buying my first home/rental property. FHA Loan, House hack all the way baby 😎

Great video Brandon

Thank you

Would these be the correct steps in the correct order for a BRRRR or flip property where conventional lending is out the window due to the poor condition of the property?

I would not partner with anyone. I have never done it and never would. Half the profit double the hassle

I have about $25,000 saved up now at 19, and am planning on splitting a $250,000 rental townhouse 50/50 with my grandpa. I have to buy out of state though because I live in an extremely expensive area.

best advices so far :D

It's crazy how the universe works...When I first started searching for my first property I was lead to your blog or website yeast ago...I gave up due to self-destruction and I finally found the courage to finally get my first property officially now...And this video is a RU-vid Suggestion...Man thank you for everything you do and thank you for not giving up as I did years ago...Well here's take 2...

Hi i wanted to ask a question, Do I need a real estate company and a team (attorney, real estate agent, advisor, etc.) before my first real estate investment or could I start on my own just by buying, renting & selling?

Any guidance on how to structure a partner deal? Meaning someone is putting in all the down payment or half of it and I'm finding the deal. How to split the profits if I (deal finder) would be getting an FHA loan in my name and living in the property. Thanks

You are incredible

Nice information

Blessed Saturday Sir Bigger Pockets,thank you for your help in how to invest in Real Property for the millions of people around the world

Great video 👌🔥

The problem with such a hot market is that houses are so expensive that there isn’t any cash flow. They aren’t renting for as much as mortgages will be.

Yes

Hi, loved the video. Would it be smarter to try to pay off the mortgage sooner than the original loan duration? Or would it be best to save that money for other investments? Taking inflation into account..Thanks.

Nailed it. Most concise and thorough Rental 101 I've ever seen 👍🏼

I BOUGHT 6 MOBILE HOMES EACH ON THEIR OWNS LOTS WITHIN 1 BLOCK OF EACH OTHER AND PAID CASH. OVER 60K A YR MONEY BACK IN 2 YRS

nice work. Game on

Bigger pockets! Yessir 🔥🔥💸

3:39 "If you find that prices are just too expensive in your market, you can always invest long distance." If there's a will, there's a way.

Awesome! Love how you always break things down in to actionable steps that ANYONE can do!

I bought 4 properties this year. The process is quite simple. The key is to just get started. The beauty about rental properties is that you can "earn while you learn." BUT do not shop on your own. Use BP or an agent to help you find the deals. Also, I'm in the Dallas area and the numbers don't make sense. All of my properties are out of state in cash flowing markets (OKC and Jackson, MS). I have quality property management to look after my properties. I know it is counter intuitive, but you do NOT want to invest in your same neighborhood. You'll want to check on the propety all of the time and it will drive you crazy. It will completely take the "passive" out of passive income. The best thing that I could have done was to purchase in a place that I can't visit all of the time.

Life changing info! And I died at choking out the grandma 🤣

Thanks

Solid Video

I ended up with my first rental property sort of on accident and it’s turned out to be great. This video gets me fired up to go after another one! Thank you!

You are amazing bro!

Hey all. If you watch his videos from a year ago, or 2 or 3 years ago you'll notice the process doesn't change. Thats because its really this simple. I found BP in 2017 bought 2 rentals in 2018, 1 in 2019 and about to buy 7 units before the end of this year. I could have bought much more in a shorter period of time. Fear and inaction were my barriers. Once people know you are an investor they will find you money, find you deals and help you grow, its ridiculous. Take informed action...do it today!

😲You moved to Hawaii! I've been out of the loop for a while. 🤣Choked out a 90yo woman, good job. 👍🏼As always, good tips. I'm hoping to get my 23yo old son into rentals. He saved almost $9k already. We're looking to use the low down, live in, multi unit strategy for the first property. He works 5 days a week, a plays video games on his spare time and kind off a lazy procrastinator. Do you think this will work for him? I figured if he gets a bunch of multi units with property management he won't have to worry about dealing with the rentals and can retire early.

Thumbs up???? I wish I had more hands!!! You are amazing Brandon!!👍👍👍👍👍👍👍👍👍👍👍🇵🇹

Great video

You should have considered home line equity option

I'm still working on getting that down deposit

Good video thanks

What advice do you have for the LLC route,?

I'm a black belt in bjj. But a white belt in property rentals lol thank you for this.

Appreciate the Great content what part of Florida are you investing in?

What do you think about the platform RoofStock?

That was an excellent video!! Thank you!!