How long did it take you to buy your first rental?

[Mark Ferguson]

I think one of the biggest mistakes I see investors make is wanting to buy a property as soon as they figure out they want to invest in rental properties. I have investors say I can't fid any good deals on the MLS, what am I doing wrong? Well your not going to find a ton of awesome deals on the MLS at any given time. I have bought all ten of my rentals off the MLS, but it took time to find those deals. I will go months without seeing a deal that would work for me. Remember you don't have to buy a rental right now, especially if your tight on cash and can only buy one for a while.

When I bought my first rental in 2010 I think I have decided for sure I was goi g to buy a rental at least two years before that. It took me time to save money, then I bought a new personal house and had to save money again.  Then it took time to find that great buy that would also be a great rental. 

I am curious how long it took other investors out there to buy their first rental after they had decided for sure they wanted to invest in rentals.