First Home / Investment Property Purchase

[Reuben Royal]

Hey guys, I'm brand new to real estate and am trying to get my foot in the door. I was told a good way to do this is to purchase a home until I can save some capitol to start putting down payments on rental properties then turn around and rent this property out ( I am currently renting). My question is that I've found a decent little 3/2 house that is being sold by the owner and has been on the market for over 600 days. It is in a nice middle class area just outside of town and they are asking 148,000 for it. Since I'm brand new to real estate, I'm not sure what a good offer would be on a house like this. If I buy it for their asking price or just under, i wouldn't be able cashflow the property due to the mortgage payment versus what rent is going for in that area. Any suggestions on negotiating prices, or if I'm even approaching this the right way?