1. Go to networking events: This should be one of your first steps along with engaging with other members on this site. Investor meetups are typically filled with a variety of people such as experienced investors, first time investors, developers, real estate agents, lenders, inspectors, attorneys, etc. Pretty much you could potentially meet your whole real estate team that is going to help you get your first property and even after, just by going to an event. Not only do you get to pick the brains of people that are in this field with you that can share their experience when starting out as an investor but also your comfort level skyrockets because you're in a room with so many people that have successfully do this over and over again.

2. Find a knowledgeable real estate agent: Investment purchases are in their own field when it comes to real estate and you want to find someone that knows the hottest areas to invest, what is going on in those areas, has a nice track recorded of helping investing clients, and just ultimately knows what it takes to work with investors.

3. Talk to a lender: Even if investing is something that is brand new on your plate and you probably aren't even thinking about starting the process right away, I always recommend at least chatting with a lender. They will give you a lot of helpful information on the loan process, the price point you'd fall within, and just any other loose end questions you may have on the lending side of things. Taking it back to having a good agent, the agent you are working with should have a rolodex of resources for you and should have at least one lender that they usually work with that has a great reputation.

4. Be patient: When it comes to investing, there are a lot of other factors you have to put into play as opposed to finding a place that just fits your personal needs. Some people can find their first investment in a few weeks and some people it may take a few months but the first one is the most crucial because it sets the tone and should give you the motivation and eagerness to start on your next one.

Chicago, Illinois

4 Votes