Updated almost 9 years ago on . Most recent reply
Im ready to purchase my first rental property
I would like to buy (foreclosure ideally). Im looking in Md Nj va and ny. I would like to rent to either hud or college students depending on the area. I know the maximum I'm willing to spend and I'm okay with possibly doing some rehab. I've just started looking more aggressively. With that being said I would just like to hear some opinions or advice from experience rental property owners. Thanks again for any advice. HIGHLY APPRECIATED.
Most Popular Reply
Thomas S.
#2 General Landlording & Rental Properties Contributor
#2 General Landlording & Rental Properties Contributor
What makes you feel you are ready to start investing.
Do you know your area , are you educated on how to invest and what to look for as a good investment, have you learned your state landlord tenant regulations, do you understand expenses, leverage, equity, cash flow. What do you know about selecting and screening of applicants.
Are you ready to invest to the point that you are prepared to lose it all if it goes bad.
Tell us about your level of education regarding choosing and managing income investment properties.