How to buy your first rental property?

How to buy your first rental property?

Real Estate Investor · Eunice, LA · Member since 2009 · 55 posts · 1 vote

What are your steps in buying rental properties if you would buy your first property?

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  • Real Estate Investor · Eunice, LA · Member since 2009 · 55 posts · 1 vote
    17y

    I see. Thanks for the help.

    What are some good methods for finding a rental property?

    I like FSBO and finding old investors that want to get out of the real estate business because of distressed times. There are great deals in these areas. What are some of your methods?

  • Real Estate Investor · Eunice, LA · Member since 2009 · 55 posts · 1 vote
    17y

    It has been an adventure getting my next property. I have done a electrical inspection, insect and wood damage inspection, septic tank inspection, and had the senior vice president of the bank give the ok on the numbers. Almost there. I have the appraisal and then it is all coming together.

  • Real Estate Investor · Eunice, LA · Member since 2009 · 55 posts · 1 vote
    17y

    Thank you Jon . What are your views as for as including utilities with a rental unit?

  • Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    17y

    Make the tenant pay them. If you're paying, they have no incentive to conserve.

  • Wholesaler · Salt Lake City, UT · Member since 2009 · 1k+ posts · 401 votes
    17y

    Will

    Yes, your correct with your explanation, but your initial statement without the detail is misleading because the agent in a deal is the broker..

    We use the term agent loosely for all real estate licensee's but they are not really the agent in the deal. The Broker is, we just generally use the term agent, they are actually agents for the broker, not the public.

    Now if a licensee is trying to circumvent his contractual obligations, and legal obligations to the broker I say hang em.

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