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Updated about 7 years ago on . Most recent reply
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What all is entailed (New to home buying an B&H)
So I'm hoping someone can give me a realistic start to finish process in buying a home for a rental property. Currently I just rent a apartment and never have looked into owning until I picked up Rich Dad Poor Dad back in November. After reading the book I basically have snowballed none stop into educating myself in Real Estate. In my research I haven't really found anything regarding actual start to finish for new owners. There are so many terms an things brought up in various books I have read an would like to have some people put it into prospective. I just want to get educated an figure this was the place to ask for help.
I'm just going to create a scenario so someone can let me know how this would go.
(made up scenario ->) Have 10,000 cash saved. Found a property in good neighborhood worth $65,000 and are asking close to the valued price. Did a walk around with a realtor to check the property and found some issues that need resolved to make it rent worthy.
From the walk through what would be next. I know things need to be done like title insurance, property insurance estimates, contractor estimate an things of that nature. Just trying to gather kind of a basic step by step process of this. Any help that is give is much appreciated