Fundementals for the New Guy - So You Wanna Be An Investor

[Ken M.]

If you are just starting out, this is for you:

When you buy an investment property, it is treated differently than a house you are going to live in. 

There are many ways to buy that property. 

The usual way, but not the right way, to try to buy a rental is by finding a property on the MLS, where agents congregate, make an offer and then try to get financing to buy the property. If your agent allows you to do things that way, they don't know what they are doing. Find someone else. It doesn't matter how nice they are.

You should always talk to a mortgage broker or bank first to find how much you qualify for before starting the investor journey. And your agent should see to it that you do that first so you are not wasting your time or their time.