New Investor!! Trying to find my first rental property...........

[Anant Radadia]

Hello All,

Collected enough to cash buy a rental property. Starting to figure out how to find a rental property with positive cash flow, It looks very challenging to find a property. 

[Steve Kenney]

Hey Anant,

Welcome to the community! The first thing you should do when starting out is just getting a process down for analyzing deals. I have a spreadsheet for doing this and can share that with you, or you can use the BP calculators. Set a goal to analyze a few deals a day and establish your buy criteria. Most the deals I analyze don't meet my buy criteria, so I just move on and wait for something else, so if you're getting discouraged at first just keep in mind that it can take some time to find the right deal. 

So to get started, analyze deals consistently. I'd also highly recommend doing the following:

1. Talk to a few different lenders in your market and get pre-approved, real estate agents will be more willing to help you if they know you are pre-approved.

2. Go to your local real estate meetups and start networking with people in your area. This may be uncomfortable being a new investor, but it's really important to get out there and start talking to people in your market.

3. Find an investor focused-agent in your area that can help you navigate through your first deal. A good agent can also help you analyze deals as well!

Hope that helps and let me know if there are any other questions I can help answer.

Good luck!