Buying your first rental property [Full Guide 2023]

#realestate #rental
This is the definitive beginner's guide on how to buy your first rental property.
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0:00 Intro
1:55 Types of Real Estate
4:08 Why Real Estate
6:10 Pre Step
8:03 Step 1
9:21 Step 2
10:30 Step 3
14:16 Step 4
22:26 Step 5
Advertiser Disclaimer: Some of the card links and other products that appear on this website are from companies for which John Liang will earn an affiliate commission or referral bonus. John Liang is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as bilt.com, rakuten.com and mybanktracker.com. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies, all available credit card offers, all banks or all available bank offers.
This post is sponsored by comparecredit.com. John was compensated by comparecredit.com for his comments and has an incentive to promote CompareCredit.com. The experience described may not be the experience of all clients and is no guarantee of future performance or success.

[@tahirisaid2693]

Investing your life savings in a rental property without certainty of returns can be risky. It's crucial to thoroughly evaluate the investment potential before diving in. I've learned that making wise investments is key to building wealth. It's not just about investing money; it's about investing smartly to secure a prosperous future. Here's to making informed decisions and achieving financial success!

[@tuckerhiggins4336]

Stop commenting this on everything bot

[@NicholasBall130]

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

[@StacieBMui]

Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.

[@StocksWolf752]

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.

[@EleanorBaker474]

Mind if I ask you to recommend this particular coach you using their service?

[@StocksWolf752]

Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@crystalcassandra5597]

I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@jimmydan12]

Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.

[@JaneBlac-]

Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?

[@jimmydan12]

Absolutely not, as I've closely tracked my portfolio's performance, witnessing a staggering $482k growth in just the last two quarters. This experience has taught me the secrets behind experienced traders' substantial gains in what might appear as unpredictable markets. Undoubtedly, it's been a bold and rewarding choice I made fairly recently.

[@pineedbydmoon]

That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?

[@jimmydan12]

"Stacie Lynn Winson” serves as my advisor, bringing extensive qualifications and experience in the financial market. Her deep understanding of portfolio diversity positions her as an industry expert. I suggest delving into her credentials for further insight. With her considerable experience, she offers valuable guidance to anyone seeking to navigate the complexities of the financial market

[@RayaMarcus]

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

[@laparistaylor166]

I subbed because instead of saying “hey if your going to watch this video like and subscribe” you said “Go do something” I love that!!!!

[@RobertTorres_]

I remember watching my first real estate 101 with graham Stephen years ago talk about how to buy your first property. That catapulted me into being heavily involved in the credit card, real estate and finance community overall. I hope this video inspires the next guy how it did for me years ago.

[@AnthonyVenture]

Same exact situation as me! Probably for a lot of us haha.

[@Avengers-tf8du]

How is it going for you guys

[@Avengers-tf8du]

Been following for years im 18 going to college then getting started only 4 more years until ill start

[@AnthonyVenture]

@@Avengers-tf8duMostly gotten into stocks and credit cards for now, and became a real estate agent. Haven’t really hit the season of real estate investing side yet.

[@patrickcunha7946]

Boston area lenders

[@stephenwillis10]

lemme get that calculator

[@crumfit1232]

That’s a super respectful way to ask somebody already giving you free info! Comment 10 more times maybe he sends it!

[@Jason-xt5nn]

@@crumfit1232shut up

[@islandreaper]

It’s a spreadsheet… share it.

[@gunarssonbilly.]

Hi John. I must say you are an inspiration because I started up investing in crypto and trading as a scared investor who doesn’t want to lose money, glad to say I’m very profitable now and just bought my first house through it.

[@reshma107]

Oh wow that's great, Congratulation 🎉

[@davidjames6332]

Big props to you on your wins please how did you become successful, lately I find everything difficult how did you overcome fear of loosing facing same here

[@gunarssonbilly.]

I understand how you feel,well is not luck is all about having good investment plans, watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey.

[@gunarssonbilly.]

I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.

[@jsolomon8423]

I’m encouraged keep it up

[@berry6irl]

one of the FEW videos that are actually helpful and not just about spending a lot of money!!! thank you

[@taemoney86]

Please do an in depth video on the real estate calculator

[@AveryHeilbron]

Thanks for the shoutout John & a great how to for everyone out there!

[@itsnotme07]

Great stuff John! Thanks for sharing!! Totally agree with putting your eyes on the property and walking it. My current place, looked great with photos (of course it did) and all the numbers/amenities, etc. Then I visited the place for a walk through. Couple cracks in the drywall/plastering and a 2.5 in drop (just felt weird) in the floor from one side to the other of the house. $35000 later, everything is level, no I did not pay for that, seller did. Plus...if you're a newbie buyer...and you probably are watching this...make sure to ask your RE Agent questions. They know what/how to show things to people but because of their experience, they also probably know of what things to look for, especially if it's houses/apartments/condos that are similar in an area. "I sold 3 of these last year, all needed new sewer lines due to age/type, etc"....then you know you gotta add that to the inspection for sure! And YES, you DO NEED an INSPECTION! The cost will save you $$$$$$$.

[@user-xz9wg5sh4h]

Hey John! Great video, really helpful information on getting a rental property. Super excited to see a video breakdown of how you setup your deal calculator!

[@giovannimartinez6840]

Amazing video! I’m 24 and want to get my first property. I think that calculator would be a great tool for me and others. A video like that would be awesome! Keep up the great work!

[@johnsfinancetips]

Is anyone here looking to jump into their first property??

[@raulmaravilla2941]

Me Looking in South TX Area

[@MDMurdock77]

Yes. Thoughts on BRRRR?

[@omwtbuyre]

🖐️

[@freedomisnotfree1963]

Yes. California.

[@Efahsal]

Yes I am. Please send the calculator and mentor me😅 I'll pay you and let you ride my Lambo for the weekend no joke lol. I'm in Chicagoland areas

[@VivekMogalapalli]

This information is priceless. Thank you for doing this, John! Would love to see more real estate investing videos. Also, could you do a video on how you screen your tenants?

[@phytostratis]

You are amazing! Thx for sharing your passion … this is so valuable

[@neakzie]

I love the information you share, hopefully this will come in hand. Thank you!

[@younginj8665]

This is a w I learned so much just in the first 4 minutes

[@crazypieman9]

great video and very detail oriented!

[@_pyox]

Seems like this guy gets every angle of investing , I appreciate the simplicity 💯

[@ronnyheredia7535]

Another great video, keep up the great work!

[@fingerscrossed24]

Thanks for this! So helpful!❤

[@TechInRealEstate]

Great video! so informational!

[@Sophisticlesenergy]

Love that you ask people to get active.

[@poopdeckpappy8680]

Thank you for putting this content together. My wife and I are planning to do the exact same thing and you have opened our eyes to some elements that we hadn't considered and also have gotten us excited to buy our first property. We are also in MA and looking at properties in the South Coast area. Please send us your calculator as it will be super helpful. Thank you again and we'll keep you posted!

[@Drjinannasser]

Thanks for the great video! I’d love to get access to the calculator you used! Keep up the great work!

[@chaseburden6835]

Great Info!! Ive been looking into buying multi-family for my first purchase, but the prices around me seem a bit too high. I would love a more in-depth video on the calculator. Also, if living in a unit for some amount of time (say a year or 2), should that unit be included in the calculation of income since it will be rented out in the future? Or should it be left out of the calculation?

[@bryangerardo9858]

As someone who just got his Cdl a very good friend of mine gave me some knowledge about doing this and I can’t wait to go to the next step

[@johndeanconway7931]

Great content as usual, I loved this as I am about to invest in uk property with 70k deposit (plus fees and more savings for furnishing and decorating) to buy my own place, but I am also treating it as my fourth investment, having two spare rooms for lodgers to cover this property mortgage and tax costs... and to build my equity whilst working my day job for my next investment.

[@jessicamegan5850]

Hello, I am in London and am considering investing in real estate as a way to get some passive income. A few years ago, my brother purchased a home in a county outside of London. Because he was unable to find tenants, the property was eventually repossessed. As a result of this experience, I'm concentrating on purchasing real estate in London, where it's quite challenging to obtain a mortgage because of the high cost of the properties. Would you kindly recommend an easy way, where one may try to sustain these cost on mortgage?

[@kimothyolsen3858]

Houses are so expensive in the uk now. How would anyone pay off 400k plus, unless they want to commit to a ball and chain lifelong mortgage? Am I missing something? Seems like even if you had two professionals there that would take decades to pay off…?

[@jadecarson5081]

First, Jessica you need to have a salary of at least 25k before you will be considered for a mortgage, that you need for properties. If you want to achieve a 75 percent yield yearly, try looking out for an investing advisory or else you will be competing against professionals themselves.

[@donnahensley2459]

Generating returns are usually phenomenal. What would have been really interesting would be a proper breakdown showing their costs , services, investors return..

[@jadecarson5081]

That's an intentional way to live Debbie, that's the only way to become debt free. I've already paid off two previous mortgages. Now I'm working on my third and I cannot wait since it has to happen before retirement in four years and I'm already getting there the proficient way, Luckily for me my trader and coach Frost Hilda has been using every opportunity to ensure I benefit from each turn the market takes. Good luck staying debt free as much as possible in the future.

[@kcach002]

Great video! Would love an in-depth video with the calculator.

[@antoniogamez7323]

Great video. I like your way you explain your videos.

[@aaron4552]

Thank you for the wonderful video John! So informative and helpful for someone who is looking at how to get into real estate investing. Would absolutely love to see a follow-up video on the calculator. Earned a new sub from me!

[@shillondesilva5756]

would really appreciate an in depth video on how to structure the calculator!

[@SashVerniss]

Thank you for sharing this information it’s very helpful and I’m just starting to plan on getting into real estate investing! Used your other trips on credit cards and just did an amazing trip to south of France for a fraction of the cost 🙏🏼 (now I’m back to saving for that down payment)

[@EvangelistKia]

Im a teacher and i am looking to transition to real estate...Thank you for your video...very throughout

[@dayanaragrimaldo]

John! Terrific job explaining and keeping me entertained throughout your video! Thank you. If you sell the sheet where you calculate expenses and income is there a link where I can purchase? Could you make a video explaining how you built your calculator sheet on excel or google sheets?

[@kingbthegreat2967]

Having access to that calculator with be extremely beneficial and encouraging when scouring the web for properties.

[@22mford]

Need the calculator for sure! Great video!

[@audreyling8577]

Thanks so much for the video!! Would to learn more about the calculator!

[@georgezepeda8907]

Interested in your calculator. Great info on the video, looking to buy my first rental property which is a 4 bed, 2 bath. It’s nail biting but I know it’s a great starting point. If rental makes it positive, I’ll be ready to buy the 2nd.

[@ransomquintis]

Hi John, thanks for the video break down. I would definitely love to get into the weeds with this rental property calculator. I would like to really understand it. I would love to create one for myself. I also would love to hear what you have to say with the 2nd rental you buy. I am already a home owner. I would not qualify for an FHA loan for my first rental property. Thus, I have to go conventional loan (because I am not a veteran and don't qualify for VA loans). I spoke to my loan officer who I deal with and he informed me that I would need to put down 20% for rental property. This starts to get quite expensive and more risky. Any thoughts or strategies you could offer would be great!

[@martinezsjr]

Interested in the calculator. Great info!

[@Figueroamit]

Really amazing video, I just Graduated from Architecture School last year and trying to become an architect as developer. It shares a lot of the same principles as real estate investing, it would be great to see a more in-depth video using the calculator, I trying to create my own worksheet and currently looking for my first property to buy

[@311akb]

Awesome video. Would love more breakdown on the calculator. Thanks.

[@A.j.Rodriquez]

Hey John, this video was incredibly well done. Commenting because I'm interested in using the calculator you mentioned. Also thought what you said about section 8 gave me the confidence I needed to get started. I came from South Phoenix and a lot of my friends and some family were very low income but also some of the sweetest people I know. If you don't mind can you also share your screening process with me?

[@luisrosario432]

Thank you so much for teaching house hacking in such a simple way. I dream of investing in real estate and have even been analyzing houses on zillow and for family members for fun. Would you be able to share a video showing more details of this calculator and maybe share it for a while? Thanks again.

[@shoedrums]

Hey John! I’ve gotta say, this is wonderful information you’re giving out. I noticed on your annual income in the calculator it was $100,000. Is that a combined income with your girlfriend/spouse? I would love to get into real estate just hesitant and want learn more. Another note, the calculator you have would be sweet to dive into more! Thank you for all you’re doing man. Tons of people would keep this to themselves. Much respect to ya!

[@ebonycohen6821]

Great informative video! Would love to know how you built your own calculator!

[@TheBoyz305]

Amazing video and well explained thank you

[@mcjimmiejohnson48]

Please do an in-depth video of the calculator!! Running the numbers has been the hardest thing for me because I don’t know what all to plug in.

[@kennethtorreskats]

This information is priceless 🙏🏽

[@johnsfinancetips]

I’m glad you found it helpful!

[@IanFloress]

I think a video explaining how the calculator works would be great!

[@kirkcurrey4686]

Great video!! Would love more info on the calculator

[@keneeo]

please share or talk more in depth about that excel calculator! would be super cool to experiment looking at houses

[@BPFnSC]

Did you build the calculator/spreadsheet yourself? Or is that something you can get open source? Great video! Thanks!

[@andrewazn6141]

Perfect content

[@SivaramMurthy]

Great video! Would love to know in depth about the calculator!

[@frantos29]

Great video, would be very interested in an in-depth calculator video please, learned a lot just by watching this!

[@jeremyguadagnini6536]

same I would also like a link or something related to the calculator

[@frankb6914]

Is there a link to this calculator?

[@Moe_Mentum33]

Would love to know the same as well. I started to build a much less detailed calculator but I like additional details

[@IanFloress]

Great video!

[@user-wr8cq9kl1j]

Thank you for the video! I learned so much… I would love to see the calculator

[@user-od7xg4jh7x]

Hi John, awesome video. I'm planning on my first investment property and you made some good points. Can you please share how you did your calculations. Thank you.

[@christophertafur3824]

Hi John, I’m just starting to get into this industry and that calculator would really be helpful, if possible could you please do a thorough video on that calculator I would really appreciate it

[@user-js9jg5mc1w]

Fantastic video, I will love a breakdown of your loan calculator key metrics method!

[@feliciastreeter3529]

Thanks for the info.

[@Ryuish1337]

Sweet video, subscribed!

[@johnsfinancetips]

Thank you!!

[@MohamedA-xj4xm]

Hey John, thanks for the great video and all the info you provided. May I please get my hands on that spreadsheet?

[@curesulunga7426]

Hi John!! Thank you for explaining everything and giving definitions! I find myself being so scared of acronyms lol but your explanation helped to identify them all in an orderly fashion. Im so thankful pleaaaaaaase keep making more of these videos!

[@johnsfinancetips]

Thanks for the comment, and absoluttly! New year is around the corner and I've got more real estate teed up in 2024!

[@channarinleng1224]

Hi John, great insight. Definitely would love see a video on that calculator. Thank you for your work!

[@stevemoore2699]

I second this.

[@JoseBermudez13]

@@stevemoore2699 I third this

[@edekoop]

Hi John, great video! Got me really fired up and would appreciate a link to your real estate calculator. thx!

[@ernestoramirez7466]

Loved the video! Like to see more. What are the legal stuff such as home inspections, insurance, or renter fail to pay?

[@jualrumahbekasijakartatimur]

The dynamics of the rental market impact both landlords and tenants, with factors like demand, location, and property condition influencing rental prices and vacancy rates.

[@LeonardoLynch]

Would definitely love a more in depth show on the calculator and maybe even a copy PS. I gave the video a thumbs up

[@purplesalad]

I would love to use that spread sheet !

[@almond327]

I would love to get more information on the calculator. Great video!

[@andyk7344]

John, great video. Would you buy a deal just using the calculator? Are there any other factors or numbers to consider? What are the risks involved with this sort of investing?

[@kelvinsmith1691]

Awesome video ! It stream lines a lot of the surface stuff to give a good process to follow. That calculator looks super helpful, do you have a link for the calculator ? and/ or video ? thanks for the guidance.

[@yacineatroune]

Great video thanks

[@nakzadi4015]

Please make more videos on this topics 🙏🏼

[@bdmixpro]

Greta video bud! Would you make a in-depth video of the calculator? Also, make it available for us to download and use? Thanks!

[@DeeZaN100]

Great video John!, could I get more info about the calculator

[@bachelor99]

Well done, John! another great video! where can i get a copy of that calculator? sounds like a life saver for RE investors! :)

[@traeold1071]

Thanks. Amazing video. Starting to save for some real estate investments

[@j.l.cooper70]

😂 you're so awesome! Thanks for this video!

[@johnsfinancetips]

Glad to help!!

[@paulwyche]

Hey John. Great video! Would love both a follow-up and a copy of the calculator if possible. Also, are there any books/other resources you would recommend?

[@afilthycasual9132]

I too would love to have a copy of the calculator.

[@MariaIvanova2]

Same! Pretty please. That calculator seems like a game changer :)

[@levihuffman324]

I would love that calculator as well!

[@bdmixpro]

Me too… can I get a copy of the calculator

[@patsmith5870]

Great video!!!! Would love a copy of the calculator spreadsheet, please.

[@patrickyarnold5815]

Where do you find the published pricing for section 8 housing? Would be nice if there was a link in the description below

[@adamkaokept]

Incredible video! I've been following you on IG for a while now and love your style and your knowledge. Thank you or what you do! I would love info on your calculator! In the midst of purchasing rental properties and want to be as advanced as I can be. Please let me know where I can find this!

[@xavierdoisneau3472]

great video! PLEASE do an in depth of the calculator

[@Hero-jb2dp]

Great video John. Did you have to adjust your stock investment a lot during your initial phase of real estate investing? We are towards financial independence also and working on exploring the world of real estate.

[@Resto56]

Great video, hey how can I get a hold of that calculator am looking to do FHA with 2-4 units but can't really find good calculators to analyzed properties

[@RaymondKeen.]

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2024. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

[@hersdera]

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.

[@hersdera]

There are true professionals at the top of their game; I had the pleasure of dealing with one, and it turned out to be really helpful as they assisted me in restructuring my complete portfolio. Margaret Johnson Arndt, a well-known professional in her field who you may be familiar with, is none other than my advisor.

[@SandraDave.]

I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

[@jlm.multifamily]

Great info!

[@caninkendall1072]

Would love to see the calculator thank you

[@varunsinha2006]

Jhon thank you for this its precise and reliable. Can you please point me to say where i can find tgis calculator and also strategies to finding your first property

[@LeviPlusBobbie]

Wow that was so much great info… thanks! So did you say you could share the calculator you made?

[@lamarcusanderson1256]

Great information, i would like to see you calculator and breakdown of it use.

[@UnknownSageMaster]

Hey! Great breakdown! Can we get an indepth video of the calculator please?

[@MdTahirPatel]

Great video! Thanks for sharing the Section 8 pro tip. Can you please share your calculator?

[@108eddyegg6]

hey John, My job require me to travel a lot, half of the time i would be living outside of the states or even mexco and Canada. Do i still qualify for the 3.5% FHA loans?

[@joshilkumar8603]

Hey John, awesome video! I was wondering where I can find the calculator to pluck all the numbers into! Thank you!

[@ghouston5085]

Great video; very helpful. Buying my 1st rental property. I'm so nervous, but I took the leap. Would love more calculator info.

[@dailydoseofrandom652]

so how does that go ?

[@gnanadeepch5065]

did you find the calculator?