How to Buy Your First Rental Property (with BiggerPockets' Brandon Turner)

What do you actually need to get started in real estate investing? Join Ken McElroy, Danille, and BiggerPockets host Brandon Turner in a conversation about all of the steps he took to purchase his first rental property, and what it took to scale up from there.
Ken's new Master Course is LIVE! Looking to buy your first rental property or grow your investments? Click here to purchase Buying Your First Rental Property: kenmcelroy.com/rental-propert...
BIG thank you to Brandon Turner! Check him out here: / beardybrandon
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ABOUT KEN:
Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
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[@asahisagoiboi3517]

I bought my first property with the VA home loan zero down and no PMI. I spent 15,000 on small renovations. The new HVAC was the most expensive thing. My cash flow is only about 400 dollars. We have a property manager since we live in a different state. I plan to rent out my current house.

[@careym8437]

Hard to believe that was free to listen to. Fantastic content thank you all!

[@photojournalist1194]

As usual, I enjoyed listening to you all. Ken if you don't mind a word of improvement. You must fix your mic and camera, it was really hard to understand and follow your part of the conversation. Keep doing the good job guys, and thank you for the precious information you are giving us all. God Bless You All!

[@MrJules409]

Fix your speakers. I can hear and see him just fine

[@kannonpatterson]

@@MrJules409 no his mic is bad

[@HeartForChrist777]

Audio is very bad. Appreciate your message and all the great advice-! Throw some money into a good audio set up

[@brianp6633]

Ken, I love your content, and rarely comment. But the advice is solid advice. For us audiophiles, your audio(not the content!) is awful. Brandon has spent a bit of money on his mic and it is much more enjoyable audio! I'd even throw a couple bucks at you to invest in a better mic. Keep up the great content! Much love and admiration.

[@CD-ii8it]

loved this and Brandon's story is incredibly inspiring!

[@rr8253]

Brandon, you say that it probably wasn't a coincidence that you met that couple at church because you probably spoke to 10 people and you had been putting it out there in the world. I have a philosophy that says; the more people's paths you cross, the better chance you have at meeting the right people.

[@louisemarie7905]

You've been producing some amazing content and now you're working more with Bigger Pockets! Addictive and inspiring!

[@luistovar2494]

You are great source of inspiration. 👏👏💪💪🙏

[@Pug318]

Great video, so very informative

[@RiverBottomWarrior]

Awesome Podcast thanks for sharing! Currently purchasing current home 1500 sq ft good renovation potential.

[@karimnanji4163]

Awesome..Thank you.. I pray for all success and happiness.

[@Clarinda787]

Great video. Do you have a series for those of us who are at the beginning of our real estate journey?

[@tristenparsons8989]

Thank you for this KZbin channel. Please keep it going. You guys are my nest resource for this type of information.

[@TheRetirementality]

It seems like whenever these guys start talking about real estate they go as fast as they to how they own 5,000 units. I skipped through this pretty quickly but, the title is how to buy your first rental property. More people need talk about how to actually buy your first rental property. 99% of investors are not going to buy a 100 unit building. I have 7 units and that is enough for me. I am retiring on the income from those properties. I show people how to buy 1 property a year and reach financial independence.

[@lyleburlingame2276]

Ya it moves fast but I think you missed the point buddy. He said plain as day. You don't start with 500 units, it's scarey.. Start with 1 or a duplex and build up. Obv you "skipped through most of it "

[@modo203]

​@@lyleburlingame2276 Yes, but do you need 3 real estate experts talking for 54 minutes to tell you that? I felt that the title was a clickbait. Very little was discussed in the video I'm afraid.

[@Pug318]

I agree with you, I live in nyc area and the prices are very different from the middle of the country.

[@soletha331]

What state are you in?

[@blueberry8582]

Can you plz make a video of ...How to DEPRECIATE a property legally every year .. And how does depreciation work..

[@robertoinvests]

great points

[@itsclaver7125]

Very nice 👍

[@RobWilliams007]

Yes Brandon, always someone better…unless you’re Michael Jordan, of course! You and Ken could be the Michael Jordan’s of real estate! 😄

[@deltapromasterlauj4848]

Ken, I need some serious advice please. I’m looking into being a first time home buyer in California but currently we’ve all seen the housing market skyrocket in the past few years. I’m currently looking to purchase a home in central California (Sacramento-San Joaquin region) but extremely hesitant at these outrageous prices. For example, majority of 3 bedroom/2 bath home is currently going anywhere from $400-800k depending on location/neighborhood…….these same homes used to be $200-300k a few years ago……I definitely don’t want to buy this at the top when everything is about to crash all over again…..thank you for your time and advice/suggestions.

[@philipdurling1964]

I have 3 units at the moment and working towards my 4th. Its not worth me going corporate until I get to 6 units minimum. Still learning how to use OPM.

[@mpgisbtsarmybaefighting2838]

So, this is a vehicle for his course (how to buy your first rental property)? Exactly what is this 50 minute video for then? 🤔 This video did not tell us how to!??

[@vacuumbed1]

Great show. I’m curious about Brandon’s home in Hawaii. Presumably he qualified for the $2M loan? I did a flip in Portland, Oregon that I wish I would have kept for myself.

[@mpgisbtsarmybaefighting2838]

Hi, how do you keep it for yourself? If you don't mind me asking.

[@valmentor]

My two favorite real estate people!!! Say whaaaaaaaaaat.... had to like 👍🏾 👌🏾

[@michellealbertino9432]

investment in real estate is good

[@Davefitz04]

Ken you should update your camera and mic situation

[@Pitbull14218]

Aren’t there laws preventing cities from increasing property taxes too much too fast? What states and cities do they have those protection laws on property taxes?

[@ryanthepianoman27]

That’s a loaded question

[@robertoinvests]

❤

[@probst9999999999]

How would you be cash flow positive on 2 million dollars and 3x 2500 rents, a 30 year mortgage with 20% down would have 7750 per monthj cost...

[@ragingdogeblade6190]

41:10

[@RobWilliams007]

The government getting involved is horrible because then they can impose rent controls and all kinds of things that infringe on the rights of private property owners.

[@LA_337]

Only leeches wouldn’t want the government involved. Try actually working to earn money only to have an unregulated industry steal it because of greed.

[@nationalsportsmixes7500]

Love me pls mr.elroy!

[@lubosimaboshe]

am just from having a dream about an apartment complex😊one day all those who read this comment are going to buy one. 😊👌Great episode

[@superligcanlmaclar3456]

I do not understand. Why not just stack coins or deposit them in Flirt Invest?

[@sneekolas]

Wait. I already have my first rental property. Why am I watching this?

[@lele2216]

Have to talk to positive people with open minds. I have a friend talking me out of it or a year cant I'm not listening to her.

[@nnekaoa9234]

they nickle and dime u 4 everything