Nervous about buying my first rental property!

[Vonetta Booker]

I have to admit--I am sooo nervous about buying my first rental property.I spend hours on the MLS, look at properties left & right, analyze until my eyeballs ache—but I still haven't been able to work up the nerve to make an offer.

I’ve read tons of stuff on how to landlord, find good tenants, do due diligence, etc.—BiggerPockets has been like, a godsend.But I still have the fear of getting a tenant from hell, based on the horror stories that I hear about landlording headaches.

Also, even though I've downloaded the BP rental analyzer and have tried to factor in as many numbers as possible per potential deal—I'm not gonna lie, all this stuff about "CAP rate" this and "2% Rule" that makes my head spin, lol!

Wasn’t a particular question—just needed to vent a little about an apparent acute case of analysis paralysis!But if anyone’s been there and is now doing great, I’d sure love to hear about it, lol! ;-)

[Justin Cooper]

Vonetta!

Every landlord has horror stories just like you will soon have some of your own. But the point to remember is, How many landlords have great experiences and make a lot of money through rentals. Just like with the evening news, the bad stories make great headlines, that is why you see so many here.

I have similar fears and worries, each time I buy a new rental, but all those fears and worries disappear when you get that first check! and then again and again each month.

The only advise I might lend on the analysis would be to determine what spreads you are comfortable with or require, and then when you find a deal that matches that, pull that trigger!

You will always be learning and modifying your systems and processes but until you take action and buy that first one, there will be nothing to improve upon.

Now get out there and buy a house!