New Investors, Next Steps

[Christian Padilla]

Hey, new investor in Chicago, IL. I wanted to know what 'next steps' people take after doing a lot of research. 

Do you begin: networking? saving funds? etc.

Also, how did you do these things, went to events? budgeting?

[Jin Park]

It took me about a year and a half since I started educating myself on Real Estate to finally purchasing my first property in November, 2021. What kept me from buying my first property earlier was that for me… the more I educated myself, the more I realized that there are a lot of factors that you need to consider IF you want to execute a-z process yourself (looking for properties yourself, hiring an agent, finding contractors, rehabbing, etc.). To me, this was way too overwhelming, so I continued to just educate myself without taking any actions.

Then, I realized I seriously need to just get my foot in the game and learn from the real experience of purchasing the property… but then again… at the same time, I was still overwhelmed and afraid of doing all of the work myself for the first time. So, I decided to change my strategy and go with Turnkey Provider for purchasing my first investment property. 

I did a lot of research and interviews and decided to go with Rent to Retirement. They have an amazing reputation and people on the team that truly walk you through the entire process. The ROI that Turnkey properties will give you will obviously be lower than what you would get if you've done the entire process yourself, but RTR actually do have inventory that has pretty high ROI.

Long story short, if you are hesitant to purchase your first investment property by doing a-z your self for the first time, give RTR or other reputable Turnkey providers a chance. Even though a lot of things are already prepped and ready to go for Turnkey properties, I still learned a lot about how the inspection is processed, purchase agreement is formed, talking to multiple lenders, talking to multiple insurance providers, interviewing Property Managers, etc.

If you do decide to go with a turnkey provider, @Account Closed is the man to go to. He’s been guiding from the beginning to the end with my first property and we are currently closing on my second property as well.