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Investing in Real Estate with Clayton Morris | Investing for Beginners

995: Q&A: How Can I Buy My First Rental Property? - Episode 995

Investing in Real Estate with Clayton Morris | Investing for Beginners

Clayton Morris

Investing, How To, News, Education, Business, Business News

4.11.1K Ratings

🗓️ 30 October 2023

⏱️ 14 minutes

🧾️ Download transcript

Summary

Today's first caller has a decent chunk of home equity available and a decent credit score. He's interested in buying his first rental property close to home. What's my advice for this scenario?

On this Q&A edition of Investing in Real Estate, I'm taking three of your questions on buying rental properties in your own backyard, finding lenders for new construction investments, and calculating ROI. Click play to hear my answers to your great investing questions!

Transcript

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0:00.0

Welcome everybody to the investing in real estate show. I'm Clayton Morris. On this

0:09.4

show we take your questions and I try to answer them here. We answer any sort of real estate

0:14.0

related tax related questions, the best of our ability. Again, we're not

0:17.3

financial advisors so we can't tell you what to do with your money, but we can

0:21.6

certainly tell you our experience and the things that we've done in the past with

0:24.6

our money and you make your own informed decisions on that.

0:27.8

So today we've got three great questions from our viewers.

0:30.7

We're going to dive into those questions in a moment. But first, if you are new to the show, then please consider subscribing. Our goal here is really just financial education. We want to empower you to make really strong financial decisions in your life.

0:44.4

And these are things we were not taught in school growing up.

0:47.5

We were not taught how to build wealth.

0:49.7

We were simply taught to work for somebody else,

0:52.2

collect a paycheck, we weren't even taught really how to balance a checkbook.

0:56.0

So financial education is really lacking and it really is incumbent upon you to seek out the materials, the books, the

1:03.9

podcast, the episodes, really follow one course of action to

1:07.8

completion because there's going to be so many different things you can do.

1:10.4

You can say, you know what, I want to invest in multifamily properties and

1:13.9

mobile homes and raw land and storage units and you know I personally you know

1:20.0

invest in single family homes that's been my and duplexes. That's been my

1:24.8

been what we've done for our whole our whole investing journey and that's what we've stuck to.

1:29.1

So just follow one course of action that speaks to you and you know become a real estate investor.

1:35.2

That's the best way to go about it right now as we look at what's happening with this economy,

1:39.6

what we see happening with the debt bubble in the United States, what's happening around the world with the energy crisis,

...

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