Five things I absolutely need before purchasing my 1st property?

[Shakira Patterson]

I am in the process of purchasing my first rental property. I want to make sure that everything goes smoothly and in order to do that I want to super knowledgeable and informed about the beginning stages. I would love advice and tips on what’s a necessity prior to my purchase.

Things like how much “blow” money should I have if I face evictions or have hidden repairs that may come up, should I see an accountant that specializes in working with real estate investors prior to my purchase, would it be smart to buy a property that already has occupants, etc..??

[Steve Kontos]

@Shakira Patterson

While a good accountant is important, the biggest thing to understand at the beginning is that it is a numbers game.  Do the numbers in the potential new investment make sense?  What type of areas are you looking at?  Also, make sure you work with a good realtor who has adequate experience.