Just Starting Out & Have Questions

[Minnina Smith]

When you are just starting out with purchasing properties to turn into rentals. Where should I start? What are the basic steps? Is there a beginners guide I can reference? What is the ideal credit score lenders are looking for? What education should i gain before purchasing my first rental property?

[Jonathan Greene]

Yes to everything @Nicholas L. said and also know your financial situation and have your finances in order to present to a lender. How much money do you have in the bank? How much do you want to stay in the bank when you purchase (consider you will need 15k still in there for reserves on any purchase)?

Lastly, what's your why? Why do you want rental properties? Right now, if it's just for income, you need to dig deeper and understand what you are getting yourself into for that income in terms of being a landlord and repairs.