Typical guidelines when starting out

[Rudy Ratner]

Hi Everyone!

Im a newbie BiggerPocketeer. I have recently decided to enter the rental property business. 

I would love some insight as to the typical order of steps an aspiring landlord should take to buy their first rental property. 

I wanted to find out which rates, I would qualify for so I can do the numbers and narrow down the kinds of properties I look for. But the lenders are hesitant to give me even estimates. They want me to decide on a property first saying they can then try to get the best rates. 

However the property owners/brokers want to know that im truly interested in purchasing and asking to put up earnest money etc.. 

Are there some steps new landlords can follow like

1. Get pre-approval

2. Look at properties

3. Get rates

3. Get inspection /appraisal

etc...?

Any guidance would be greatly appreciated!