How to get my first property.

1 Reply

My family and I are ready for our first property to get our feet wet and begin our real estate experience. Where do I look to find a good starter property? Are there landlords that desire to downsize their property loads that are willing to help newbies like ourselves? I believe that a small beginning would help us learn the basics and we can grow from there. Any thoughts?

Hey Jesus,
First off, welcome to BP!

Although there are a variety of different ways to source your first property, my best recommendation is to link up with a local, seasoned, investor. The hardest part about taking on your first project is not having the experience to know exactly what goes into a rehab concerning time and money and spending way too much of either to get there.

To better answer your question; try and link up with wholesalers in your area. This will allow you to gauge your market more appropriately and view the kinds of inventory they are pulling in on a regular basis. Don't feel eager to jump at everything you're sent and do your due diligence to decide which property is best suited for you! Good luck with your search !

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.