Newbie advice please

[Sade Estronza]

My goal for the New Year is to buy my first rental property .Been doing allot of research and joined Lifestyles Unlimited to help mentor me.

Any good advice in general to avoid any mistake before purchasing? Any loan companies you prefer in Texas ?

[Jonathan Greene]

- Don't make an offer until you've physically seen at least 25 properties so you have an idea of actually what each price point looks like in person.

- Don't let anyone tell you to buy your first investment property in an area that you can't drive to in 15 minutes.

- Don't spend money on mentoring. Don't buy anything a mentor company is offering.

- Make friends with a local real estate agent who is an investor so they won't mind showing you junk properties.

- Create as large a reserve as possible for when you buy because all of the calculators will give you monthly expenditures moving forward, but will not account for a lump sum repair which will always be needed right after closing.

I hope those help.