Rental Property Investing
New to the website. I’ve owned two houses, I’m familiar with buying property, but this is the first time I’m looking into getting a rental property. Looking for something small in California or possible multi family out of state.
Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?
1. Subscribe to the BiggerPockets Money and Rookie Podcasts
2. Attend the FREE WEBINARS
3. Attend a Meetup in your area/virtual meet ups
4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy
5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!
Good Luck,
Kenny
Hey Anthony, house hacking is probably your best bet here. Of course I don't know anything about your goals or personal situation though. Good luck!
#2 Mortgage Brokers & Lenders Contributor
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#2 Mortgage Brokers & Lenders Contributor
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Anthony - welcome to BP!
Anthony - congrats on looking for the first rental property! It starts with the first step. As you look, make sure to shop lenders and find what financing options will be best for your situation!
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#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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Welcome Anthony- have you looked into DSCR loans or used them prior?
#3 General Landlording & Rental Properties Contributor
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#3 General Landlording & Rental Properties Contributor
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Quote from @Anthony Torrento:
New to the website. I’ve owned two houses, I’m familiar with buying property, but this is the first time I’m looking into getting a rental property. Looking for something small in California or possible multi family out of state.
Out pf state is where you will get the most bag for your buck. Cash purchases can yield you 10% or more net caps
Good luck
Hi Anthony, welcome to BP!
I am also in the process of finding another property in CA. Couple questions for you:
Are you planning on living in the home?
Is the goal appreciation or cash flow?
What’s the level of involvement you want to have with the property? (Passive/active)