First Rental Property

[Tony Ruiz]

Not new BP been on here and reading for a while first time posting. I have saved enough money to have some money down on a rental property but do not know where to begin. I have read a couple different opinions on purchasing a property in your backyard but my location is fairly expensive to purchase a home. Not to worried about having a property manager and having less cash flow because from what I've observed from podcast and other investors is once the ball gets rolling it is a lot easier to keep going. Any input, tips, or recommendations is very much appreciated thanks in advance.

[Joe Villeneuve]

If the number$ don't work "in your backyard", then don't invest there.  The number one priority isn't how close the property is to you...it's based on $$$$$.  How close a property is to you isn't a priority at all.

What does, "once the ball gets rolling it is a lot easier to keep going" mean?

Where you start is learning three things:

1 - Market Analysis using $$$ not %%%
2 - How Money Works...as in many different strategies.  Don't be a one trick pony.
3 - What is, and bow to design, a REI Plan specifically for you...based on your financial goals/needs.