252.5: How to Buy Your First Rental Property in 11 Steps

Real Estate Rookie

BiggerPockets

How To, Education, Entrepreneurship, Investing, Business

4.7 • 1.8K Ratings

🗓️ 17 January 2023

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

Buying your first rental property doesn’t need to be complicated. With some simple steps, you can go from onlooker to real estate investor, collecting passive cash flow every month! But you’ll never get going if you don’t know where to start. So to make 2023 your best year yet, David Greene, investor, agent, and host of the BiggerPockets Real Estate Podcast, sat down to walk through the eleven steps it takes to go from rookie to real estate investor. Real estate is NOT a “get rich quick” type of investment, but it can help you build wealth in a surprisingly short amount of time. Just ask David, who spent years working overtime as a cop, slowly building up a real estate portfolio that eventually led him to financial freedom before most people buy their first house! In this episode, David will walk step-by-step through everything a real estate rookie must do to get their first rental property, how to analyze real estate deals once you find them, and how to repeat the system so your passive income stack grows bigger every year! Ready to become a real estate investing expert in 2023? Sign up for BiggerPockets Pro, where you can access real estate tools and calculators, rookie bootcamps, lease agreement packages for all fifty states, unlimited webinar replays, and exclusive videos. Start 2023 off right, and use code “NEWYEAR” at checkout for a special discount! In This Episode We Cover How to buy your first rental property in 2023! How David went from almost giving up to financial freedom in only a few years How to analyze a real estate deal in minutes The eleven steps to success when starting in real estate investing How to find real estate deals in ANY market using the LAPS funnel Why so many people fall short of their new year’s resolutions and how you can succeed in 2023 Using BiggerPockets Pro to get your first real estate deal even faster! And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Ashley's Instagram Tony's Instagram BiggerPockets BiggerPockets Forums BPCon 2023 BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Instagram BiggerPockets Rent Estimator BiggerPockets Rental Property Calculator BiggerPockets Podcast Shop BiggerPockets Pro BiggerPockets Pro-Exclusive Videos Real Estate Rookie Facebook Group Real Estate Rookie Youtube Channel Connect with David: David's BiggerPockets Profile David's Instagram Check the full show notes here: https://www.biggerpockets.com/blog/rookie-bonus Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is real estate rookie episode
0:05.2	It doesn't take that many properties to achieve financial freedom
0:11.7	I was financially free when I was still working as a cop from the first six or seven properties that I bought
0:17.0	So if it doesn't take that many it just takes the right goals the right plan and the right actions
0:22.4	That's it
0:23.4	My name is DJ Ashley Care and I am here with my co-host Tony Robinson the spin-mass
0:31.0	And welcome to the real estate rookie podcast where every week twice a week we bring you the inspiration motivation and stories
0:37.8	You need to hear to kickstart your investing journey and today we got kind of a special episode
0:41.4	But really quick. I just want to shout out someone by the username of tool bands
0:44.8	They left to say five star review and Apple podcasts. They said great discussions and I'm learning from these discussions
0:51.4	Even though I'm a landlord of close to 20 years
0:54.8	So even if even though we are the real estate rookie podcasts
0:57.4	I think there's still something in this podcast for everyone
0:59.7	So if you haven't yet left to say five star reading a review
1:02.7	Please do the more reviews we get the more folks who can help and help them folks is what we do here
1:07.8	Ashley Care we got a we got a slightly different episode for today isn't that right?
1:11.3	Yeah, and you know with our intro
1:13.6	We really switched it up when out of our usual routine and kind of did that out of wind
1:18.5	We really didn't have that land
1:21.9	But uh, so hopefully we don't now get a commenting that our boring banter is actually just turned embarrassing
1:30.0	embarrassing banter
1:32.0	Yeah, yeah, so this
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