In this next year, my goal is to purchase my first rental property. I am passionate about this goal, but I am having trouble getting started. What are some tasks I can do everyday to get myself one step closer to my goal?
@Wei kang He first and foremost start paying off debts and having enough cash in hand for at least 20% down payment + closing costs if you intend to start with buy-and-hold exit strategy. Also, network with like minded. Search for REI club meetings in your area and attend the meetings if your state allows it. You will be amazed at how much knowledge you will pick up form local REI clubs. They can do a much better job than the national guru REI education providers. With these national providers all too often do you hear the phrase "Check with your state and local laws for applicability." This drives me nuts when I would sit in these training sessions and received a lot of this. But when I attended a local REI club meeting and they were reviewing wholesaling and talking about "Bandit" signs they specifically said don't place them in this city or this town. "Because we did and got fined for it because city X don't allow them." Its this local knowledge you want as a beginning investor that the national gurus can't teach. Plus the local training is much cheaper too. Oh and reading the forums on BP, podcasts, etc is a great place to keep you busy on your REI journey too.