Hello Friend,
I hope you are doing well.
I often speak to new real estate investors who are trying to figure out how to buy their first rental property.
There are many factors that sometimes stall new real estate investor from taking action.
One of the biggest factors that stalls new real estate investors is deciding on WHERE to buy their first rental property.
New investors often experience information overload, because there are so many options as to where you should buy your first rental property.
Unfortunately I see it far too often. People can’t make up their mind and spend so much time debating which area they should by their property in.
My Advice to you…
If you are a new real estate investor and you are looking to purchase your first rental property, my advice to you is to buy a rental property in a proven area.
What this means is that you need to buy a rental property in an area that has experienced good appreciation, has a good tenant profile and is in an area in which there is potentially good cash flow.
The biggest problem that new real estate investors face…
The biggest problem that new real estate investors face is that they don’t listen to the advice of experienced real estate investors. This is not meant to be harsh critisism, but unfortunately its reality.
I know this because I have given lots of advice to new real estate investors over the years. Some new investors get caught up on which area to purchase in, and they debate this topic back and forth for weeks, months, or even maybe years.
They never end up taking action, and time passes them by.
The Answer is Simple
The answer is simple. As a new real estate investor you need to buy a rental property in an area that other real estate investors have bought in.
The key factor is that the real estate investors that have purchased before you, have to have been successful purchasing properties in this given area.
If the real estate investors have been successful, this means that they have bought properties that have experienced appreciation, have a good tenant profile and have potentially good cash flow.
If you are a new real estate investor…
If you are a new real estate investor don’t complicate matters. Buy a rental property in a proven area. An area in which other real estate investors have been successful purchasing in.
Happy Investing!
-Neil Uttamsingh
ps: If you looking to buy your first rental property, let us help you with the process. First Rental Property is now a Realtor and can help you with any real estate transaction. If you are thinking of buying, send me a message at NEIL@FIRSTRENTALPROPERTY.COM, and let us guide you through the process. Become an action taker and buy your first rental property today! Contact me at NEIL@FIRSTRENTALPROPERTY.COM
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