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Posted over 8 years ago

From newbie to closing my first deal: 10 actionable steps!

It's been a few days since I closed and the feeling of closing was awesome! However, I am keeping that excitement short lived until I reach my goal of 10 closings for the year. The coolest part is I currently have two paying tenants, and will hopefully have 3 more in the next week.

I got my start with help from BiggerPockets. Thanks @Joshua Dorkin @Brandon Turner.

Here's my list of 10 action items to help you close your first deal and on to 10:

1. Read as much as possible in one month before you get started.
2. Go to Zillow or similar site and research area you are looking to invest in.
3. Analyze the deal using BP calculators.
4. Submit offers on deals that make sense, even if your offer is lower than the asking price.
5. Review your analysis to you are confident with the numbers. 
6. Keep on reading and listening to BP podcasts.
7. Investigate financing options and make relationship with banker/lender.
8. Find a partner/mentor.
9. Get out and visit properties. You'll get excited just by looking at houses.
10. Network with the local people in the area you're looking to invest - they have a wealth of information.



Comments (2)

  1. @Kent Clothier - thank you very much for your kind comments! 


  2. Great post, Tzvi! I love that it is thorough yet simple -- that's an important combination of action steps if you want to actually accomplish something! I recommend all new investors print out this list and start using it to help them get their first deal going.