How I bought my first rental property as a broke kid in his 20s in 7 steps

[Joshua Michael Hauman]

Step 1: Increase income, decrease expenses. I started with nothing and aggressively saved for almost a year until I had 10k for a downpayment on a cheap house.

Step 2: Join online platforms like BiggerPockets, Eventbrite, Meetup, and Facebook groups to connect with investors and get an idea of what kind of properties to look for as investments.

Step 3: Use Zillow to find agents and communicate what you’re looking for.

Step 4: Analyze at least 5 properties a day in your target market for six months to understand what it would take for you to make positive cashflow.

Step 5 Get pre approved from a bank. They will tell you how much house you can afford.

Step 6: Work with your agent to make offers on properties that fit your criteria.

Step 7: Do this until an offer is accepted, conduct due diligence and proceed to closing your first deal!

The market has changed from years ago but the framework is similar, I hope my experience helps you.