Buying your first rental property is a major investment and can be a lucrative one, but take it from the professionals that some precautions should be taken. Do your research, take your time, and read the tips we have provided from nationwide pros in the real estate industry on buying your first rental property.
Here are 28 tips for buying your first rental property from the pros:
David Reiss, Professor of Law, Brooklyn Law School
Roh Habibi, Founder & Principal, The Habibi Group
Larry Friedman, Co-Founder & Principal, SDF Capital
Ryan Coon, Founder & CEO, Rentalutions
Kathy Fettke, CEO, Real Wealth Network
Jesse Harrison, CEO & Investor, Employee Justice Legal Team
Iris Felder, Luxury Sales & Rental Expert, The Capone For Your Home Team
Freddy Baez, Producing Sales Manager, Hamilton Group Funding
Jessica Dolan, Home Organizer/Stager, Room to Breathe
Don Tepper, Investor & Realtor, Solutions 3D
Katie Messenger, Realtor, Keller Williams
Tom Davies, Co-Founder, Accelerate Homes
Shane Lee, Data Analyst, RealtyHop
Rob Stephens, General Manager, Avalara MyLodgeTax
Jeff Rohde, Founder, J Scott Digital
16. Balance Your Risk
Stacey Corso, Senior Communications Manager, HomeUnion
Nancy Brook, Broker & Investor, Billings Best Real Estate
Lisa Krause, Real Estate Agent, Keller Williams
Corey Vandenberg, Mortgage Broker, Platinum Home Mortgage
Jeff Miller, Co-founder, AE Home Group
Richard Haynes, Broker/Owner, Manhattan Pacific Realty, Inc.
Dean Myerow, Bond Professional, Las Olas Wealth Management
Seth Lejeune, Realtor, Ask Seth Anything
Alexandra Axsen, Owner/Managing Broker, Lake Okanagan Realty Ltd.
Mark Painter, Founder & President, EverGuide Financial Group
Dan Green, Founder, Growella
Evan Tarver, Finance Editor, Fit Small Business
Emile L’Eplattenier, Real Estate Sales Analyst/Editor, Fit Small Business
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.