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Many people want to invest in real estate, but they hesitate to get started because they simply don’t know how to buy their first rental property. People who never start investing in real estate miss out on the incredible cash flow and tax benefits that real estate investing provides. This is an unfortunate truth.
In this video, tax expert Karlton Dennis provides a complete step-by-step guide that explains how you can buy your first rental property. This guide has nine steps that walk the viewer through the entire process of buying rental real estate and gives them all the information they need to know to buy their first rental property.
Some of the steps that Karlton discusses include preparing a downpayment, building credit, speaking with lenders to discover mortgage terms, and more. The process of investing in real estate can become much more straightforward once you understand the process of buying your first property. This video can help massively with that.
CHAPTERS:
0:00 Intro
0:44 Step 1: Prepare Your Down Payment Funds
2:47 Step 2: Build Your Credit
3:51 Step 3: Speak to Lenders
5:01 Step 4: Choose What Type of Property You Want to Buy
6:22 Step 5: Conduct Initial Property Research
9:13 Step 6: Get Pre-Approved by a Lender
10:08 Step 7: Select a Property and Make and Offer
11:31 Step 8: Complete the Inspections
12:24 Step 9: Close on the Property
13:24 Subscriber Question!
14:22 Outro
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#realestateinvesting #investmentproperty #wealthbuilding
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Hey Karlton, how can we have a call with you ?
Not me watching at 3 1/2 years old 😭
I own my house I live in, only worth about 75k) to start out should I throw the deed into an llc and pay rent to my company to show revenue or should I put it in the llc and borrow money on the house or do both at the same time?
@karltondennis how would this work with a friend as a partner 50/50 ?