Where to start in real estate investing

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Where to start in real estate investing

Mila Hurst
Member since 2025 · 19 posts · 12 votes

Hi, I really want to buy a house for long term rentals to supplement our income for retirement. Still have many years to go before retirement .I  don’t know where to start. I think I will be a passive investor . Hope somebody can help me what to do first . Step by step if possible pls.

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Alioune Camara
Realtor · OH · Member since 2026 · 122 posts · 77 votes
7mo
Quote from @Mila Hurst:

Hi, I really want to buy a house for long term rentals to supplement our income for retirement. Still have many years to go before retirement .I  don’t know where to start. I think I will be a passive investor . Hope somebody can help me what to do first . Step by step if possible pls.






@Mila Hurst — great goal. Long-term rentals can be a strong way to build retirement income, especially if you start early. Since you want to be more passive, here’s a simple step-by-step way to begin:

1. Get clear on your finances.
Review your income, debts, credit score, and savings. Make sure you have a solid emergency fund (3–6 months of expenses) before buying.

2. Define your target.
Are you buying locally or out of state? Single-family or small multifamily? Decide what “passive” means to you (most passive = hiring property management).

3. Talk to a lender early.
See what you qualify for on an investment property. This tells you your realistic price range.

4. Learn basic deal analysis.
Understand cash flow, expenses, vacancy, maintenance, and cash-on-cash return. Don’t rely on appreciation alone — the property should make sense on paper today.

5. Build a small team.
Agent, lender, property manager (if going passive), and possibly an investor-friendly CPA.

6. Start conservative.
Buy one solid, stable rental in a strong area with steady demand. Keep reserves even after closing.

You don’t need to know everything to start — just enough to buy your first good deal safely.


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  • Ethan HaiglerBusiness Member
    Real Estate Agent · Charlotte, NC · Member since 2019 · 111 posts · 58 votes
    7mo

    @Mila Hurst I would love to assist. I’m an agent/wholesaler/private lender for real estate. DM me if you’d like to jump on a phone call. I can go over strategies

    [email protected]704-607-2078
    3 Little Pigs Rental Management
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    1Reply
  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    7mo

    Start by finding out how much you can borrow.  For rentals, you need 20% down and that may limit where you can buy.  Getting something local is usually the best as you can self manage (if that is what you want to do).  Some property managers also have their real estate license and you can talk to one of them to see what the numbers look like.  With current house prices and interest rates (which are back to normal), you are unlikely to make a lot every month.  Once the house is paid for, that is another story.

    I'd suggest looking for places that don't need a lot of work (ie a coat of paint that you could do yourself) or new flooring.  Also think about bigger ticket items-does it need a new roof in the next 5 years.

    Make sure you know all of the costs involved: property taxes, insurance, vacancy and if you use a property manager what they charge and how they work (they are not all the same).

    3Reply
    • Mila Hurst
      OP
      Member since 2025 · 19 posts · 12 votes
      7mo
      Quote from @Theresa Harris:

      Start by finding out how much you can borrow.  For rentals, you need 20% down and that may limit where you can buy.  Getting something local is usually the best as you can self manage (if that is what you want to do).  Some property managers also have their real estate license and you can talk to one of them to see what the numbers look like.  With current house prices and interest rates (which are back to normal), you are unlikely to make a lot every month.  Once the house is paid for, that is another story.

      I'd suggest looking for places that don't need a lot of work (ie a coat of paint that you could do yourself) or new flooring.  Also think about bigger ticket items-does it need a new roof in the next 5 years.

      Make sure you know all of the costs involved: property taxes, insurance, vacancy and if you use a property manager what they charge and how they work (they are not all the same).


      0Reply
    • Mila Hurst
      OP
      Member since 2025 · 19 posts · 12 votes
      7mo

      @Theresa Harris ty for the info.  

      0Reply
  • Mike Whitman
    Member since 2019 · 41 posts · 22 votes
    7mo

    Hi Mila, I would also check out the investment methods on BP, read up on which strategy sounds best, then work through their buy box to help you narrow down your strategy. Feel free to message me, I just bought my first property in January. I can walk you through my thought process and steps I took if that would be helpful 

    1Reply
  • Alioune Camara
    Realtor · OH · Member since 2026 · 122 posts · 77 votes
    7mo
    Quote from @Mila Hurst:

    Hi, I really want to buy a house for long term rentals to supplement our income for retirement. Still have many years to go before retirement .I  don’t know where to start. I think I will be a passive investor . Hope somebody can help me what to do first . Step by step if possible pls.






    @Mila Hurst — great goal. Long-term rentals can be a strong way to build retirement income, especially if you start early. Since you want to be more passive, here’s a simple step-by-step way to begin:

    1. Get clear on your finances.
    Review your income, debts, credit score, and savings. Make sure you have a solid emergency fund (3–6 months of expenses) before buying.

    2. Define your target.
    Are you buying locally or out of state? Single-family or small multifamily? Decide what “passive” means to you (most passive = hiring property management).

    3. Talk to a lender early.
    See what you qualify for on an investment property. This tells you your realistic price range.

    4. Learn basic deal analysis.
    Understand cash flow, expenses, vacancy, maintenance, and cash-on-cash return. Don’t rely on appreciation alone — the property should make sense on paper today.

    5. Build a small team.
    Agent, lender, property manager (if going passive), and possibly an investor-friendly CPA.

    6. Start conservative.
    Buy one solid, stable rental in a strong area with steady demand. Keep reserves even after closing.

    You don’t need to know everything to start — just enough to buy your first good deal safely.


    4Reply
  • Ben FernandezBusiness Member
    Realtor · Lancaster, PA · Member since 2025 · 169 posts · 97 votes
    7mo

    1) Align your lending resources. Private/hard money for value adds and long-term traditional lenders for the refi and or purchase of performing assets that don't need renovations. Learn the DSCR product as well.

    2) Understand valuation techniques for determining current market value and top potential value based upon improvements. Improvements can come from renovations or operations (or both).

    3) Educate yourself on effective operating practices and applicable expenses.

    4) Decide if you want anonymity if if you're okay being the known owner. Establish an LLC as applicable.

    5) Understand the volume of resources you'll have access to to help you as needed. Meaning realtors, property managers and contractors/handymen. If resources are low, it should play a role in your decision making process on if the investment is worthwhile.

    6) Understand the trajectory of the market you're buying (or the asset class). Is the area growing, declining or flat...Use population metrics to help you understand what's going on in that market and why.

    7) Understand a cash flow analysis and apply it to any potential purchase.

    8) Understand the uniqueness of CapEx and potential deferred maintenance for each property and plan accordingly financially.

    9) Understand tax implications and best operating practices to support your growth.

    10) Have a plan to minimize leverage along your journey so you're never in a compromising position that'll jeopardize losing your assets.

    [email protected]717-945-7040
    3Reply
  • Garret Rumbea
    Inland Empire, CA · Member since 2017 · 151 posts · 79 votes
    7mo

    Hi@Mila Hurst good to meet you. I'm not in the single family space, but my partners and I I do invest in larger multifamily properties. Happy to connect and share my experience and how I got involved if you'd like

    1Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    7mo
    Quote from @Mila Hurst:

    Hi, I really want to buy a house for long term rentals to supplement our income for retirement. Still have many years to go before retirement .I  don’t know where to start. I think I will be a passive investor . Hope somebody can help me what to do first . Step by step if possible pls.


     "Passive" and owning rentals are mutually exclusive!

    REITS and syndications are the only true passive RE investments.

    [email protected]248-209-6824
    Logical Property Management4.9451 Reviews
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    2Reply
    • Mila Hurst
      OP
      Member since 2025 · 19 posts · 12 votes
      7mo

      @Drew Sygit ty

      0Reply
    • Dan H.Pro Member
      Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
      7mo
      Quote from @Drew Sygit:
      Quote from @Mila Hurst:

      Hi, I really want to buy a house for long term rentals to supplement our income for retirement. Still have many years to go before retirement .I  don’t know where to start. I think I will be a passive investor . Hope somebody can help me what to do first . Step by step if possible pls.


       "Passive" and owning rentals are mutually exclusive!

      REITS and syndications are the only true passive RE investments.

      I would add NNN to this at least for as long as the tenant occuppies the property.


      most responses total ignored the desire to be passive.   Posts even mentioned value add which is very far from passive.  

      @Mila hurst I suggest getting a good book on passive investing.   I recommend @Brian Burke book.

      Best wishes

      1Reply
  • Camren BerryPro Member
    AZ · Member since 2021 · 86 posts · 14 votes
    7mo

    A simple way to start as a passive investor is to focus on cash-flowing single-family rentals in Midwest markets. States like Indiana and Ohio tend to offer lower entry prices, steadier rent demand, and numbers that work without relying heavily on appreciation.

    [email protected]480-818-6158
    1Reply
  • Mohammed Rahman
    Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
    7mo

    Hi Mila,

    If you want to truly become a real estate investor and eventually scale, then commit to getting deeply educated. Learn how to analyze deals, understand financing, study market cycles. Treat it like a long-term business.

    If instead you’re looking for more of a “one and done” income property to supplement retirement, that’s completely fine too - but you should still understand the fundamentals so you can make a smart purchase. In that case, you'll also want to hire strong professionals (knowledgeable agent, lender, property manager) to support you.

    1Reply
    • Mila Hurst
      OP
      Member since 2025 · 19 posts · 12 votes
      7mo

      @Mohammed Rahman ty, yes I am reading books and researching about property investment currently , trying to make sense of all the info  ☺️

      0Reply
  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    7mo

    Start by learning a bit about rental investing like reading a few books, blogs or listening to podcasts work great. Then figure out how much you want to invest and what kind of returns you’re hoping for. After that, look at markets where rental properties are in demand and affordable. Lastly, you need to build your team to help you along the way. Hope this helps and best of luck on your journey!

    [email protected]614-412-2912
    Reafco.512 Reviews
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    1Reply
    • Mila Hurst
      OP
      Member since 2025 · 19 posts · 12 votes
      7mo

      @Min Zhang ty! Got tons of reading to do and researching. Currently listening to biggerpockets podcast as well. Thank you .

      0Reply
  • Etim Fisk
    Rental Property Investor · Springfield, IL · Member since 2019 · 21 posts · 6 votes
    7mo

    @Mila Hurst there’s no such thing as a passive investment in real estate, if you really want to keep your head above water you will need to get your hands dirty with a lot of sweat equity and cash to throw at a problem. People who are telling you real estate is passive investing is feeding you lies and trying to pick your pockets while you are passively sleeping. Real estate is very active and depending on where you are located it can be a war zone.

    2Reply
  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 915 votes
    7mo
    Quote from @Mila Hurst:

    Hi, I really want to buy a house for long term rentals to supplement our income for retirement. Still have many years to go before retirement .I  don’t know where to start. I think I will be a passive investor . Hope somebody can help me what to do first . Step by step if possible pls.

     @Mila Hurst

    Sounds like you’re thinking smart about long-term wealth! If you’re looking to start passive and stretch your dollars further, don’t feel limited to your local market, many investors start out-of-state in Midwest cities, where prices are lower, and cash flow is strong. Focus first on picking a market with reliable rents, a solid property manager, and good neighborhoods, then look at small multi-family homes or duplexes to start building income. Even as a passive investor, having a boots-on-the-ground team makes the process way smoother and less stressful.

    [email protected]614-418-6081
    1Reply
  • Bernice RetzloffPro Member
    Memphis, TN · Member since 2024 · 234 posts · 100 votes
    7mo

    Hi @Mila Hurst, that’s a great long-term goal, and you’re smart to start planning now. If you want to be a passive investor, the first steps are to review your finances (credit, savings, reserves), define how much income you’d like rentals to produce in retirement, and decide whether you’ll use professional property management from the start.

    Next, focus on learning how to analyze a simple long-term rental. Making sure it cash flows after taxes, insurance, maintenance, vacancy, and management. Many investors choose more affordable, landlord-friendly markets (often out of state) to make the numbers work better. Start with one straightforward property, build a solid team, and scale slowly once you’re comfortable.

    If you ever want help thinking through what a first deal could realistically look like, happy to share insight.

    901-664-1949
    1Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    7mo
    Quote from @Mila Hurst:

    Hi, I really want to buy a house for long term rentals to supplement our income for retirement. Still have many years to go before retirement .I  don’t know where to start. I think I will be a passive investor . Hope somebody can help me what to do first . Step by step if possible pls.

    Hi Mila, welcome to BiggerPockets! The best way to start is by getting really clear on your goals—how much cash flow you want, how much you can invest, and what kind of risk you’re comfortable with. From there, start learning about markets that make sense for long-term rentals; a lot of investors are looking at places like Columbus, Ohio, because you can still find properties in the $120K–180K range that hit the 1% rule and cash flow right away, plus the city has strong population growth, job growth, and big companies like Intel, Amazon, Google, Honda, and Microsoft expanding here, which means solid long-term equity potential. Next, figure out your financing, decide if you want to manage the property yourself or go fully passive with a property manager, and start building a small team of trusted professionals like a local agent, property manager, and contractor. Take it one step at a time, focus on learning, and don’t rush into your first deal—you want to set up a foundation that will pay off for decades. Happy to connect and answer any questions you have!
    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9120 Reviews
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    1Reply
  • Ben FernandezBusiness Member
    Realtor · Lancaster, PA · Member since 2025 · 169 posts · 97 votes
    7mo

    @Mila Hurst My pleasure

    [email protected]717-945-7040
    1Reply
  • Joe Loveday
    Investor · MI · Member since 2026 · 17 posts · 4 votes
    7mo

    Hi Mila,

    I read through a lot of the posts here. I think the most relevant one here is Alioune's.

    However, if I were to add to it, I would say... It's hard to decide what to do in real estate until you know what you want and what you need. So you've got to ask yourself some questions. For example:

    - You mentioned that you are looking to supplement your income for retirement. How much are you looking to put in your pocket (cash flow) per month?

    - You said you still have many years until retirement. How many years is this? It can take time to build the right portfolio for you.

    - What do you mean by a passive investor? Are you planning on self managing or hiring help? How many hours a week do you want to spend on your portfolio? 

    There are more questions than this, of course. But I think it is important to get a real idea of the lifestyle you want to live, and then build your plan accordingly

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    7mo
    Quote from @Mila Hurst:

    Hi, I really want to buy a house for long term rentals to supplement our income for retirement. Still have many years to go before retirement .I  don’t know where to start. I think I will be a passive investor . Hope somebody can help me what to do first . Step by step if possible pls.


     If you can house hack then do that. If your lifestyle will not allow that then start with a cheap single family and learn the business from there.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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    1Reply
  • Marc RiceBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2018 · 2k+ posts · 1k+ votes
    7mo
    Quote from @Mila Hurst:

    Hi, I really want to buy a house for long term rentals to supplement our income for retirement. Still have many years to go before retirement .I  don’t know where to start. I think I will be a passive investor . Hope somebody can help me what to do first . Step by step if possible pls.

    Most of the Midwest markets will be good for you, with stable cash flow and constant demand

    [email protected]614-363-2787
    Marc Rice | Investor Friendly Agent at Reafco Tailwind Team574 Reviews
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    1Reply
    • Mila Hurst
      OP
      Member since 2025 · 19 posts · 12 votes
      7mo

      @Marc Rice I heard a lot about that in this thread. Will think about it.

      0Reply
  • Kerlous TadresBusiness Member
    Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
    7mo

    The first step is to get pre-approved and figure out what monthly rent you need so the property pays for itself plus some extra. Then I’d pick one safe, steady area and have a good property manager lined up before you buy, so it stays truly passive.

    [email protected]614-490-1163
    Kerlous Tadres | Reafco Real Estate539 Reviews
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    2Reply
  • Joel Miller
    Member since 2011 · 152 posts · 113 votes
    7mo

    If you can find a local organization of real estate investors/landlords that have regular meetings and educate their members, join it and get involved. Soak of whatever you can from the more experienced members. The best deals are always the off market deals, and many times properties simply change hands from one landlord to another. You’ll learn about contractors, lenders, suppliers, and many other relationships you will need to develop. 

    0Reply
  • G. Brian DavisPro Member
    Investor · Hatboro, PA · Member since 2016 · 2k+ posts · 850 votes
    6mo

    Hi @Mila Hurst, since you mentioned wanting to be a passive investor, you will need to decide if you want to buy a property yourself and hire a professional property manager to handle the daily tasks or if you prefer a completely hands-off approach. Many members in my co-investing club choose the latter by pooling resources to buy larger assets, which allows them to earn income without managing any of the physical property details themselves. Once you have your financial plan and preferred strategy in place, your next step is to build a small team consisting of an investor-friendly agent and a reliable contractor. I only invest passively, feel free to reach out if you have any questions or would like further guidance. 

    0Reply
  • Mila Hurst
    OP
    Member since 2025 · 19 posts · 12 votes
    6mo
    Thank you! Definitely total passive. I will reach out to you once I am ready. Thanks again.
    0Reply
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