Steps for first investment property

[Mitchell McLean]

Hey BiggerPockets community! I have been following BiggerPockets for a couple years now and in the next few months would like to purchase my first property. From reading books to watching weekly webinars I feel like I might be ready for the real deal. Before doing so I was looking for any advice or conversation on a possible “checklist” anyone goes over before they purchase a deal. I was hoping to discuss more of the specifics that I might be overlooking (agents, funding/ expenses, marketing, legal/ tax advice, etc.) when preparing for my first deal. Any help or advice would be highly appreciated and I look forward to hearing your feedback.

I am located in the greater Atlanta area and I was looking to purchase my first property as a possible house hack and eventually move out and have it become a full time rental property.

Thank you for your time!

[Mitch Messer]

Hey @Mitchell McLean, congrats on the decision to take the plunge and begin investing!

I believe the ability to recognize a great deal is the most critical investment skill. The only way I know to do that is to ramp up your deal flow, which I define as the number of potential investment opportunities you see within a given period.

Tons of folks, many of them right here, can help you connect with great agents, funding sources, accountants, etc. But, until you are comfortable and confident discussing actual deals, you won't make any serious forward motion toward your goal.

So, what's your weekly deal flow?