Ready to buy your first rental property in 2023? If you’re going to reach financial independence, retire early, and own your time, you better get started. But you can’t build a rental property portfolio without buying your first, second, or third deal. So, how do you go from real estate zero to rental property hero without having any experience? Take some notes from rental property investing expert David Greene, who built his financial freedom-producing portfolio in under ten years!
David walks step-by-step through everything you must do to buy your first rental property in 2023. From finding the deals, getting your financing and loans set up, analyzing a property, and repeating the system. If you listen fully through this episode, you’ll have everything you need to find and buy your first (or next) rental property. So what are you waiting for? Grab a notepad and a pen, and don’t get distracted by David’s beautiful bald head. Now is the time to start building your life of financial freedom!
If you want to become a real estate pro in 2023, sign up for BiggerPockets Pro and use code “RENTAL20” for a special discount: https://www.biggerpockets.com/membership-types?utm_source=owned_media
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Try the BiggerPockets Rental Property Calculator on Your Next Deal:
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David’s Books Mentioned in Today’s Episode:
BRRRR: https://store.biggerpockets.com/products/buy-rehab-rent-refinance-repeat?utm_source=owned_media
Long-Distance Real Estate Investing: https://store.biggerpockets.com/products/long-distance-real-estate-investing?utm_source=owned_media
SOLD: https://store.biggerpockets.com/products/sold-every-real-estate-agent-s-guide-to-building-a-profitable-business?utm_source=owned_media
SKILL: https://store.biggerpockets.com/products/skill-a-top-producing-agent-s-guide-to-earning-unlimited-income?utm_source=youtube&utm_medium=description&utm_campaign=none
SCALE: https://store.biggerpockets.com/products/scale-successful-agents-guide-leveling-up?utm_source=youtube&utm_medium=description&utm_campaign=none
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Grab Your Copy of “The One Thing”:
The One Thing
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Connect with David on BiggerPockets:
David: https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none
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Follow David and BiggerPockets on Instagram:
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Episode #754
Show notes at: https://www.biggerpockets.com/blog/real-estate-754?utm_source=youtube&utm_medium=description&utm_campaign=none
00:00 Intro
01:36 Quick Tip
02:17 How to Buy Your 1st, 2nd, or 3rd Rental Property
07:58 Getting the First Deals Done
11:08 Finding the Financing
14:36 Finding the Deals
18:28 Finding Direction
21:36 The BEST Way to Find Deals
25:04 How to Analyze a Rental in MINUTES
39:08 What PRO Investors Do
I love your podcast but your comment “no one was investing or knew how easy it was” shows you weren’t in the game before the financial crisis. Everyone was flipping houses. Even grandma was flipping. Then rising Interest rates put them all in financial ruin. Be very careful everyone using the Brrr method with the adjustable rates. They can destroy all you have worked to build.
I appreciate this episode… HOWEVER, stop swiveling in the chair, it sends subtle messages that are not reassuring.
I turned 23 😢 really like to learn
Good stuff. Thank you so much.
21 and 5 units thanks to you guys! 3 more this year!! 🙂 Thank you David!
Nothing has been said, its only a push for biggerpocket pro
Hi David, does this work in Canada?
So could I buy someone’s house with a loan or is this mostly out of pocket
10 minutes of just analogies. Waste of my time.
David, what are your thoughts on investing in tornado country like oklahoma, arkansas and so on?
Hi David, Can you tell me where the rental amounts feed from? Is this from the local (local to the property you are analyzing) MLS?
I'm considering doing this . I live in Florida though and I've been hearing that property insurance is going up 60 percent. Should I relocate ?
What about houses that can be converted in multifamily rentals?? Thanks.!!!!
What about the renter damaging the property? How do you screen renters?? Thank you for this info. From Chicago area.
Im about be 22 and I’m feeling so much anxiety trying to find my first property wish me luck y’all for the next 8 to 12 months
Very inspiring! Thank you so much.
Wow amazing video thank you!
your promo code doesn't work
Which city should I buy my first rental property?
But David Green I thought was mostly in single family, but he's talking doing multi family??
Great info! Still some great deals out there!
Just FYI if there is no multi family calculator…
Great video! At 30 years old, I've had my real estate license for 10 years and now 13 rental units with one STR, and I still find value in all the bigger pockets videos, podcasts, and posts. Great job guys!
David Greene you inspire me to the max!!!!!!!!!!!!
😮
Why were you using 5% for vacancy? – I thought you were supposed to figure a months rent (1/12 = 8.33%).
Greetings David from South Florida (Fort Lauderdale). Real Estate Agent for 5 years and getting ready to buy another property. Just found out about you and my teammate and myself reading your books…. and just joined Bigger Pockets Pro! I walk 5 miles a day and listen to your books on Audible.
My question is always…
why share the info? And not be hustling instead of YouTube
Thank you this content!
Bro can you do a cast on fractional ownership…good or bad?…seeing this more often….
These videos would GREATLY benefit if they were giving the meat/potatoes… You know: bullet points and statistic data to back it up. I have tried repeatedly to watch these videos but ears start bleeding and mind starts wandering.
For most people, at least the bunch I talk to, it’s not so much the fear that’s stopping us from buying a rental property, it’s the capital. I wish the hosts on this podcasts here would lean their discussions more towards the capital barrier and less on the fear barrier. You just pulled up a down deposit of $33,000 on that property and most of the discussion that followed was getting over your fear of buying. It takes some people years if not decades to build that amount of money. Not all of us got it like that to scale and buy properties every year… More talks about methods and resources to overcome the capital barrier and less “you’re probably not giving it your all… you’re probably not going to the gym and lifting the weights as hard as you can…you’re probably not pursuing that girl that you really like” @ 40:14. Please…