New to real estate investing looking for guidance

[Jeffrey Burdo]

Hey all;

Brand new to real estate investing.   Looking to purchase my first cash generating rental but am coming into this with zero experience.  Looking for advice with getting started.   Best avenues for $$, metrics to look at when selecting a property, etc.  Appreciate all info and guidance you can offer. 

-Jeff

[Alan Asriants]

Hey @Jeffrey Burdo,

I think that the best way to get started is to first figure out what your goal is with your first investment:

Are you looking to flip something, airbnb, or a traditional long term rental?

Then you could figure out what areas you are interested in investing in. Knowing your area is the best way to get out of the "cold feet" mentality and start actively looking for deals. You can get to overwhelmed if you dont know where and what you are looking for. 

Once you know your area, understand your property type. Do you want a Multi family or single family? The area you select in PA/greater Phila will determine property type

This can arguably be done first - get a preapproval. Know what you can afford. If you don't know your budget, you will be overwhelmed with the options you can have. Knowing your budget is a great way to narrow down and get out of analysis paralysis. 

From there, its simple calculations that determine if a property is worth it. If you want to connect and talk more, feel free to reach out

best of luck