First Property Offer Accepted

[Rachel Seymour-Newton]

Hi there,

Im beginning in my real estate investing journey and have been working with a realtor that I trust in another state. I just put in an offer for a house that has a tenant moving in on April 15th. The realtor and I have both run our numbers and expect it to cash flow between $400 and $500. My offer was accepted, so now we are scheduling the inspection and looking at next steps. As this is my first investment property, I would love to get some opinions on important things to look out for before everything is set in stone. Any advice and input is welcome and greatly appreciated.

Another question I have is about scaling. What would be the best way to buy more properties after this one. Should I wait until I have saved for another down payment, or what have you seasoned investors done to grow your portfolio?

Thanks in advance

[E.J. McCaffrey]

Now that your offer has been accepted, this is the perfect time (if you haven't done so already) to begin putting a comprehensive asset protection plan in place. A well-structured plan can provide a legal barrier between your personal finances and your investment property, helping to safeguard your assets in the event of a lawsuit or unexpected liability. Whether the risk arises from tenant disputes, accidents on the property, or even personal legal matters unrelated to the investment, having the right structure in place, such as an LLC or layered ownership strategy, can help insulate you and limit your exposure. It's always best to get ahead of potential issues before they arise, and doing so now will ensure you move forward with confidence and peace of mind.