I have about $100k cash for a down payment and want to start with our first rental property investment. Where do I start? Any experts here who can share some advise / watch outs?
Should i work with a realtor here ?
Thanks in advance

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I’m in same boat! Any advice appreciated!

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Are you buying the rental property locally, or in a remote market?

I’d start with some of the “beginner investor” content from BiggerPockets, either on their website or YouTube or podcasts.

If you’re buying remotely, I highly suggest the content from InvestWithAce on IG. He had some amazingly informative live sessions 3 or 4 years ago that are all still archived on his page that were incredibly helpful.

I used the realtor finder on BiggerPockets to find the realtor I ended up using to buy remotely. I talked to 3 or 4, and there was one that I got along with much better than the others, so I used him.

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Are you asking literally a location to start or are you seeking knowledge?

If knowledge, Read / listen to books - the book on managing rental properties by Brandon turner. Start defining your criteria before you talk to people. Book is excellent as a starter

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First property I purchased was a cash flowing duplex in good condition. Did so to learn property management.

Next, bought a single family that required gut renovation.

Next, bought multi-family (4 units) with need for major renovation (not full gut).

Actively looking now and interested in mixed building with commercial space to learn that.

My advice:
- There are several potential differentiating capabilities in real estate (asset selection, financing, operational excellence, renovations, etc.) - keep it simple to start

- add complexity as you learn

- once you find your niche / what you’re good at, stick with it

I have business partners

Chicago is a great city for that. Buying a property is affordable and rent is high!

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