Landing my first rental property.

[Patrick Reagan]

Am trying to purchase my first rental property and not having any success yet.I'm finding that my offers are not high enough and that some properties I'm interested in are going into contract even before the first announced open house.The multifamily homes I went to visit over the weekend didn't push through because the tenants would not cooperate and allow entry.I'll continue to set appointments and do whatever I have to but am wondering if I should change my approach or if this is to be expected.Thanks

[Evan Polaski]

@Patrick Reagan Real estate is a long game.  The only way to expedite it is to take on more risk, i.e. overpaying or buying a property without seeing all the units.  Particularly with seeing units, you could ask for any photos of the units, and lists of updates with dates on those units.  Get a general sense of status and put property under contract, with inspection contingencies.  Once under contract, you should be able to get access to the units, and as long as they are generally in condition you expect, you continue moving forward.  If they are far worse, you negotiate with seller or walk away.

But my advice is to be patient.  Something will hit.  Stick to your numbers and you will find that deal that you are more confident in than others, and will get started.