Need to know your last purchase before you do your first!

[Jorge Vazquez]

When starting in rental properties, it's crucial to know your end goal before making your first purchase. Why? Your strategy might vary greatly based on your long-term objectives. For instance, if you're aiming for quick growth, a property rich in equity might be more beneficial than one that's cash-flow rich but equity-poor. This is especially true in strategies like BRRR (Buy, Rehab, Rent, Refinance, Repeat), where leveraging equity is key.

Your initial strategy should align with your long-term plans, whether that's supplementing your retirement, funding it entirely, or bridging a financial gap. Every landlord's journey is unique. By understanding your ultimate goal, you can tailor your first property purchase to set the foundation for future success. You need to know your last purchase before you do your first!