Buying your first rental property from the pros

• Use Leverage to Buy the Property.
• Be Aware of Short Term Rental Restrictions.
• 3.Screen Your Tenants.
• Know Your Inherited Tenants.
• Invest in Single-Family Homes First.
• Always Do the Math.
• Focus on Your Return on Investment.
• Work with a Finance Professional.
• Talk to the Neighbors
• Work with a Property Management Company
• Purchase a Property with Outdoor Space
• Do a Pro Forma Analysis
• Invest in a Vacation Rental Property
• Buy a Property Near Apartment Buildings
• Balance Your Risk
• Look for Properties Nationwide
• Get Advice From Other Landlords
• Buy What You Know
• Invest Enough to be Cash Flow Positive
• Have Property Inspections Performed
• Choose a Location Near Amenities
• Choose a Property that is Ideal for your Target Renter
• Buy a Multifamily Property You Can Live in
• Pay Attention to Economic Cycles
• Factor in Absorption Rate

Keep our 28 pro tips in mind when buying your first rental property. They may help you avoid costly mistakes. Remember to research the neighborhood you’re going to buy in and know what similar properties have sold for before making an offer.

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