How To Buy Rental Property – Your 1st One or 10th one!


How to buy rental property is not that difficult, especially in today’s market. The actual purchase itself you just want to talk to a traditional mortgage banker, or commercial banker, depending on how many properties you own.

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Basically, when buying an investment property, or rental property expect to put at least 20% down of the purchase price or the appraisal value which ever is less, that is a bank thing,

Then you want to make sure the property will cash flow. This is simple to do. When inquiring about a loan ask what the loan payment will be. Then do some research and find out what the tax payment and insurance payment will be, add everything together and make sure the market rent is more than all the payments put together.

If you have any questions on how to buy rental property let me know and I can help you out.


14 Responses to How To Buy Rental Property – Your 1st One or 10th one!

  1. Justice Sikakane, Sr.

    A friend of mines would be interested. Can you share your e-mail address; I'd love to create an introduction.

    JS

  2. Lewis Taylor

    Trying to invest in a property to rent out

  3. Derek Davis

    I don't know you but thank you for this brother.

  4. aliya johnson

    What is the name of the guy and his company whom you're doing some online work for?

  5. Josh Smalley

    What if you've got more cash lying around and want to put way more down than 20%? Is it smarter to finance or just lay for the house with cash and start renting it out right away?

  6. Extended Stay Tucson

    #Rance Sullivan Hi, I live in Ca. When you talk about a person being able to have 4 Fha loans at a time, is that an investor loan? Does Fha have investor loans? I know someone who bought a multifamily, refinanced it to conventional, then did the same thing over. But in his case, he's using Fha to buy investment properties and never living in them. Is this dangerous? Is it better to just buy it straight forward as an investment instead of playing the Fha game? @Esharido

  7. Rance Sullivan

    20% down?
    $50,000 cash on a 250K House (cheap around here)
    That's a lot
    thank you for a mostly useless video and wasting my time

  8. Kevin Martinez

    I'm young got a small family and thinking about starting a dual mobile lot I live in bellflower California

  9. J Mccormack

    Hi, I have a question I would like to ask you! Is there anyway that i can e-mail you? i appreciate your time thank you.

  10. Writing

    How would one new to the business get pre approved for a rental loan, I thought most banks don't give out loans for rentals. What kind of loan would you ask for. If you had an llc would they run the llc credit or the persons credit.

    Does your income matter or just credit score as I would imagine all that would mater is the revenue the property would generate not personal income as you could prove to the bank you could pay them back by the renters monthly rental rates and not your personal income.

  11. Brian Nagle

    If you've already bought a property and you're wondering how to keep track of expenses then let me make your life easy: https://www.fiverr.com/naglefix/give-you-an-easy-to-use-expense-tracking-sheet-for-your-rental-property

  12. Krystle Whitehurst-Mitchell

    Hi, I live in Ca. When you talk about a person being able to have 4 Fha loans at a time, is that an investor loan? Does Fha have investor loans? I know someone who bought a multifamily, refinanced it to conventional, then did the same thing over. But in his case, he's using Fha to buy investment properties and never living in them. Is this dangerous? Is it better to just buy it straight forward as an investment instead of playing the Fha game?

  13. Wade Panchishin

    thanks forthe info!I was wondering on how i can purchase multiple rental propertieswith my one income without getting over extended?I know its possible,just dont have the blueprint to do it.I live in B.C. Canada,and my goal is buying foreclosures with instant equity,and lots of them. My plan is to buy my first one,then pull the equity forthe downpayment on the next one,over and over.But just need to know how i can keep doing it without having problems with getting financing with my one income.Thank you, Wade

  14. Joseph Zabrosky Channel

    i like this – the diversity of info