I am looking to buy rental properties. What would the steps be? Check with a loan officer to see how much I can afford, get a real estate agent, buy a house, then rent the house out? Please let me know what I am missing
I would first figure out what types of properties you are able to actually close on with the resources you possess. This is able to be done by speaking to lenders or mortgage brokers. Are you going to self-manage the property, do you have the time to do so? Next, I would start putting together your team of people you will need to successful close and operate a rental property including; a real estate attorney, real estate agent, insurance agent, local lenders and brokers, contractors and handymen.