Apr 12, 2019
Rental Real Estate Investing is simple, but its not necessarily easy... And making your first purchase can be downright scary. I've already related in the prior episode that my journey into being a Landlord started with reading the book, Rich Dad / Poor Dad. This episode relates more of this story focusing on what I had to learn how to do in order to make that first purchase happen. Hint... It all relates to evaluating properties and what goes into that process, so that you will know if you will make (or lose) money if purchasing a particular property at a certain price.
What will your loan terms be? Down-payment amount required? Interest rate? Points? Closing costs? What will the property rent for? How much rehab will be required to make it rental ready? And how do you compile all of these details into an evaluation that tells you what your Return on Investment (ROI) will be on the cash invested? In this episode, I go into how I answered these questions for myself and the tools I used to do so.
For more details on this, checkout the Blog for this Episode #3 | The First 3 Things I Had To Learn How To Do For Purchasing My First Rental Property - along with other articles and resources on the [... and Landlord] Podcast Website.