Beginner outlook on REI

[Benjamin Perles]

Hi,

I know there is no user manual for getting started into RE (if there is lmk).

I an 21 years old looking to purchase my first property. I have saved up for two years now and am looking for a rental property.

Where do you guys search for properties preferably and after purchasing how do you market your listing?

[Nathan Gesner]

Benjamin, you're asking questions that are far too basic. If I answer one, it will lead to another, and another, and another.

Your best path forward is to read a few books so you have a foundational understanding of what a good investment looks like, how to find them, how to purchase them, how to market them, how to screen applicants, and how to manage the day-to-day issues that pop up. Books will give you 80% of the information you need, then you can ask questions to help improve your understanding or fill in the gaps.

I personally recommend "Every Landlord's Legal Guide" by NOLO. It is written by attorney investors and full of practical information relating to all aspects of managing rentals. It also includes forms you can use and they have a great website. Most importantly, it references your specific state laws. NOTE: if you are in California, make sure you get the California edition. All other states are covered under one book. I also hear good things about "The Book On Managing Rental Properties" by Brandon Turner.

I recommend (in this order)

1. "How To Invest In Real Estate"

2. "Set for Life"

3. "The Book on Managing Rental Properties" or "Every Landlord's Legal Guide"