8 Steps to Buying Your First Rental Property | Daily Podcast

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Imagine a world where you didn’t have to wake up early every day or drive to work or make some other company super wealthy. And then be forced to rely on government, Social Security, and maybe 50 years of retirement savings just to squeak by in the last few years of your life. What if you could have the opposite? What if you could have time freedom—now or soon—financial freedom, more time to do the things that you want to do with the people that you love to do them with? Now, that might sound amazing, right? It’s not. You can attain that—but it won’t be easy. The truth is that life of freedom, it is possible. It is entirely possible. But it’s not going to happen by itself. You’re going to have to make some radical shifts in your life. And I believe that one of—if not the—best ways that you can make that shift happen, to make that life happen, is through the power of rental property investing (aka buying rental properties). In the video below and in this post, I’m going to share with you the step-by-step process for acquiring your very first rental property. But first, let me share four reasons about why rental properties are so amazing. 4 Reasons Why Rental Properties Are Amazing Maybe I don’t even need to sell you on it, but listen up. Reason #1: Cash Flow First of all, when you buy the right property, you get profit every single month. We call that cash flow. So each property is kind of like this little oil well. They pump money out of the ground 24/7. Now, if you get enough units—you know, two, three, five, 10, 20, whatever, if you get enough—you’ll get that freedom that you want. Reason #2: Loan Paydown Second, when you buy real estate, you get to use a loan, which means you don't need to have all the money up front to buy it. You can even do it for as low as $0 down. But here’s the cool thing. Over time, that loan gets paid off by your tenants. So you might start by owing like $200,000. But in 15 or 20 or 30 years, that’s paid off to nothing, and your property is worth a ton. Keep reading the article here: https://www.biggerpockets.com/blog/how-to-buy-first-rental-property-simple-steps Subscribe to the BiggerPockets Channel for the best real estate investing education online! Become a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com

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