Looking to buy my first deal (need help with numbers)

[Tyler Piciullo]

Guys I am looking to purchase my first deal. I have saved up plenty of capital and now the education is just holding me back. Ideally I am looking for something that cash flows.

1. What advice would you give a brand new real estate investor looking for his first deal

2. What are the numbers you look for on each property

3. How do you determine things like insurance, utilities, taxes, etc..

4. Guide to buying out of state?

5. General knowledge any new investor would know or need to research 

[Michael Dumler]

@Tyler Piciullo I'd simply start by networking with other investors in your market. Join your local REIA and see which investment strategy has been working for most. For newer investors, I generally advocate that your first property is a house hack. If you're interested in pursuing this avenue, I would connect with a real estate agent that is currently house hacking or has at one point or another utilized this strategy to build their portfolio. The numbers for a property are very subjective and dependent on the investor and what they consider a deal. Your typical example, however, is that a deal for most would consist of $200 per month in cash flow and a CoC return of 8-12%. Your monthly expenses such as utilities, insurance, and taxes can all be sourced from online platforms or county records. Buying out of state is a whole new subject matter, I would encourage you to read the book, "Long-Distance Real Estate Investing". Your next practical step should be getting pre-approved to determine how much you qualify for. Hope this helps!