First investment finding

[Kamil Lysik]

I would like to understand what fears beginner investors have when searching for real estate. Is it difficult for them to go through dozens or even hundreds of listings? What kinds of experiences do they have, and what is the biggest challenge for them? What are they most afraid of?    

[Len Mazur]

When in doubt, try inverting as Charlie Munger would do. Thing I like about real estate is it's easy to find what not to buy. Here's a few frameworks I use. If it won't cash flow don't waste your time.  Easy Management- you don't want to deal with tenant issues. They don't want to call you. Make sure the important things are stable. Make sure it has updated plumbing and electrical. If the bathroom is constantly smelling like sewage or they plug in the toaster and it trips the breaker each time, you will have a tough relationship with all your tenants.  Is hvac working ? Understand how to model your expenses. For single family there are just a couple that are the highest expenses. Insurance. Shop that around.  Property taxes and debt payments.  Make sure you get those right. They will set to your new purchase price.  Also I find that quality of tenant goes up where there is a better school (elementary, middle school)

if you look at 10-15 deals, visit them  and put them in a spreadsheet, you will grow your intuition. 
timing is great to learn now as there will be great deals in the near future as prices will come down and there isn't the crazy pressure to compete with other buyers. 

Also factor in cushion. You should be able sleep at high and have several months of expenses. 

the best times to rent is Feb-August. After that it will be slower so make sure you can sustain expenses without a tenant for a few months.

good luck.