New to Rental property investing

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  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    1y

    @Tracie Anderson

    great - happy to help

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    • Tracie Anderson
      OP
      Member since 2025 · 3 posts · 2 votes
      1y
      Quote from @Nicholas L.:

      @Tracie Anderson

      great - happy to help


       @Nicholas L

      Do you have a recommendation for a great educational start for us? Where is a good place to learn what we first need to know? 

      0Reply
  • Brady BellBusiness Member
    Rigby, ID · Member since 2025 · 15 posts · 6 votes
    1y

    Good choice! I'm not too far, over here in idaho falls. I don't service your area as a realtor but would be happy to help. We can hop on a zoom or something and I can answer any of your questions you'd have. Search us up on google "Bellhaven Real Estate Idaho" and book a time on our site. It's free, we just like doing it. 

    good luck!

    Bellhaven Real Estate4.959 Reviews
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  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    1y

    @Tracie Anderson

    the forums here, the BP podcasts, local in-person meetups.  i'm happy to answer any questions you have or connect directly if you want.  i am on here to help new investors not lose money.

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  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    1y

    That’s awesome you’re both jumping into this together, Tracie! it makes the learning curve way more fun when you’ve got a partner to bounce ideas off of. When I first got started, I felt overwhelmed by all the different strategies and opinions out there, so I kept it simple and focused on learning the basics: how to analyze a deal, what financing options fit my situation, and what kind of property felt manageable for a first step.

    One thing that helped me early on was connecting with other investors who were just a little further ahead since it gave me perspective without feeling out of reach. Have you thought about what type of rental you’d want to start with, like single-family or small multifamily?

    Happy to keep the conversation going!

    [email protected]614-412-2912
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  • Micah White
    Real Estate Coach · Chicago, IL · Member since 2020 · 171 posts · 64 votes
    1y

    Welcome! That’s awesome you’re both looking into real estate together — having a partner on the same page makes a huge difference.

    From my experience, the key early on is getting clear on your goals and learning how to analyze deals with confidence. I’ve worked with a few new investors at that stage, and having a framework to follow really helps avoid costly mistakes and gets you moving faster.

    Happy to share some insights or connect if you’d like!

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  • Terrance HillPro Member
    Realtor · Memphis, TN · Member since 2010 · 425 posts · 117 votes
    1y

    Welcome Tracie! Great to see you and your husband jumping into rental property investing together—it makes the journey a lot more fun when you’re on the same page. A couple quick tips that helped me starting out: run the numbers conservatively (don’t underestimate repairs or vacancies), and start building relationships with local lenders, agents, and property managers early.

    Are you both leaning more toward single-family rentals or small multi-family to start? Would be glad to connect and share resources.

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  • Ken M.
    Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
    1y
    Quote from @Tracie Anderson:

    My husband and I are wanting to learn more about real estate investing and would love any help from seasoned investors. 

    .

    That’s kind of a broad statement.

    Do you mean Single Family Homes, Farm Land, Storage, Multi Family, Teepees, Syndications ?

    Figure out how much you want to invest. Using a bank usually means you need 20% of the purchase price available. So, if the Teepee is 100 wolf skins, you bring 20 skins to the powwow. Then you have closing costs, carrying costs and reno costs. Taxes and insurance are added to the monthly payment. (Our methods only need 10% of the purchase price and no bank, but that’s for later.)

    So, as an example, buying 4146 Murphy Avenue Ave https://www.redfin.com/MT/Billings/4146-Murphy-Ave-59101/home/136371006 for $310,000 you scroll down to “Payment calculator” which estimates payment for $1,798 per month. Now, in order for it to be worth your while it has to rent for at least $2,000 a month. Mine cash flow always at least $500 a month more than expenses. But, we can get to that later.

    The point is, you make a decision on the type of investor you want to be, where the money will come from, savings, 401 (k), pension, HELOC and so on, make an offer, take ownership and find a renter.

    Each municipality has landlord laws, so you’re going to need to know those.

    There are ongoing repairs you will be responsible for.

    We train on all of this and include locating the first property in the deal.

    So, sit with your hubby, kick off your shoes, wiggle your toes and think through the important questions.

    Take a piece of paper, make two columns and make your pro’s and con’s list.

    Incidentally, 95% of potential investors, dream but never do. Don’t be that person. Time waits for No Man.

    All thoughts translated into the King’s English upon request :-)

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  • Drago Stanimirovic
    New to Real Estate · Miami, FL · Member since 2024 · 1k+ posts · 463 votes
    1y

    Welcome Tracie! Great to see you and your husband stepping into real estate investing together.

    Start by focusing on your goals: are you aiming for cash flow, long-term appreciation, or both? From there, learn the basics of deal analysis, financing options, and property management. Forums like this are a great place to connect with experienced investors who’ve been in your shoes. Ask questions often, the learning curve flattens quickly when you stay engaged.

    Feel free to reach out should you need any help!

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  • E.J. McCaffrey
    Member since 2025 · 194 posts · 140 votes
    1y

    Welcome to the group.

    As you begin diving into the world of real estate investing and start laying the groundwork for your strategy, one of the most important steps you can take early on is to prioritize both tax planning and asset protection. These two elements often get overlooked in the excitement of deal-making, but they play a critical role in the long-term success and sustainability of your investment journey.

    A well-thought-out tax strategy helps ensure you're maximizing all available deductions, utilizing the most favorable tax structures, and ultimately keeping more of your hard-earned income. By proactively planning how your investments are taxed, you can significantly reduce your overall tax burden and position yourself for greater financial flexibility.

    Equally important is establishing a strong asset protection plan. Real estate investing comes with inherent risks. Lawsuits, liabilities, and creditor claims can quickly jeopardize everything you've worked to build. The right legal structure can help shield your personal assets, reduce your exposure to litigation, and make it more difficult for creditors to gain access to your wealth. Proper planning can also improve your negotiating position in legal disputes and potentially lead to more favorable outcomes.

    To navigate these areas effectively, I strongly recommend working with qualified professionals, including a knowledgeable tax advisor who understands real estate and a seasoned asset protection attorney familiar with your specific goals and risk profile. Having the right team in place from the start can save you countless headaches down the road and give you confidence as your portfolio grows.

    Good luck!

    Disclaimer: This message is for informational and educational purposes only and should not be considered legal, tax, financial, or investment advice. No attorney-client, fiduciary, or advisory relationship is created by this communication. Always consult with qualified professionals familiar with your specific situation before making any decisions.

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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    1y

    @Tracie Anderson we'll do a 30 minute impactful phone all with the two of you.

    Just DM us!

    [email protected]248-209-6824
    Logical Property Management4.9459 Reviews
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