How much money should I save up to fund my first rental property?

[Mason Adelman]

Hello Everyone,

I am just beginning my process of becoming financially free. I am 18 years old living in Chicago and am going to college in Indiana. I have around 20k saved up and am trying to learn as much as I can now to be able to have enough money saved up to invest in a rental property. At the moment I am not sure if I want to renovate but I do know I would like an asset that appreciates. Any ideas or tips on how much I should save up before I start or tips In general? Really appreciate any responses. Thanks!

[Joe Villeneuve]

You have that backwards.  What you need to do is save up the money first ( you say your have $20k right now), then use that as your down payment, and figure out how much property you can buy.  then, go find the market where those properties exist