All Forum Posts by: David Chan

I recently found a good deal on Zillow, analyzed it, and got preapproved for a loan. What are the next steps? Do I work with the agent on the listing? Should I find a property manager first (out-of-state)?

Thanks in advance for help!

@Jaron Walling thanks for replying! To be more specific, it’s a triplex, 2bd 1bth in each unit. The posting did say that the tenants pay for gas, water, electricity, etc. I also did account for 5% capex, vacancy rate, and maintenance.

It does sound too good to be true so I wanted to get another person’s perspective on the deal!

Thanks again!

Hey everyone! My name is David (just turned 24) and I'm a new user/listener of BP. I currently live in the Bay Area and I know how expensive CA is and how difficult it is to buy rental properties. Out of state investing seems to be the best option for me at the moment and I am open to pretty much anywhere.

I am having some trouble trying to figure out what the steps are to purchasing my first property. Do I find an agent in the market I am looking in, analyze deals on my own (but I'm not really sure what to do after), or get pre-qualified for a loan first? I've been listening to the podcast and some past webinars but I'm still a little uncertain on how to attack the first deal.

Thanks in advance for any tips and insights!

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*This link comes directly from our calculators, based on information input by the member who posted.

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*This link comes directly from our calculators, based on information input by the member who posted.