Buying your first property

[Evan O'Brien]

Hello BiggerPockets community. Was looking to get feedback on how long did members of BiggerPockets waited to purchase their first rental after making the decision to start investing in Real Estate.

About a year ago I made the decision that I wanted to start investing in Real Estate to change mine and my family’s financial future and have been doing a lot of research by reading various books and listening to podcasts on the subject. But I am nervous on starting and purchasing my first property. I’m currently saving $1500/mo and planning on using a loan from my 401k to secure a down payment for my first property. Does anyone have any suggestions on how to get started?

[Joshua Janus]

A few months of researching how to choose a market, how to utilize your capital effectively and narrowing down to a property type should be a minimum. These are all tough decisions to make and will most likely determine where you invest in the future with other properties as well that way you can leverage your knowledge of the market and the team you already built on the ground.