{ "media_type": "text", "post_content": "Really want to get a rental property... any tips or good resource recommendations for what to learn before jumping in?", "post_id": "602031b2c39add0020d795c8", "reply_count": 10, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

Really want to get a rental property... any tips or good resource recommendations for what to learn before jumping in?

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Do you own any property now? Consider starting with a duplex or something similar where you can live in the same building at first. It helps to know the neighborhood well as to be nearby when issues inevitably arise.

Agree 100% with D1, my brother did this for 7 years, lived pretty much for free during those years, built all that equity, sold it later for a big profit


Consider the location and the type of tenant you are targeting. The ideal would be no smokers, working professionals with a consistent income.

Try the real estate bowl



There are a lot of things,

Will you need financing or not, if yes, you will want the max positive cash flow after paying the mortgage payment. you can do either retail (good condition, no inspection issues for a conventional loan), that way you buy a relatively new property and less maintenance issues. Or you can buy a fixer upper, for a potential larger cash flow, and an immediate 20%+ equity, however likely more maintenance issues.

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