Whites House Team

  • Home
  • About Us
  • Blog
  • Our Listings
  • Buyer/Seller Info
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • CIPS
  • Contact Us

First-time Real Estate Investor? Here Are 3 Helpful Tips That Will Get You Started

April 22, 2015 by Linda White

First-time Real Estate Investor? Here Are 3 Helpful Tips That Will Get You Started Real estate investing comes with many benefits that you may be eager to start taking advantage of. For example, the right rental property can provide you with monthly cash flow coupled with equity appreciation, tax deductions and more, and these can have incredible effects on your overall financial situation. As a first time real estate investor, you may be excited to start searching for a property to invest in, but you may consider following a few helpful tips to make your search more successful.

Determine Your Budget

There are investment properties that range in price considerably, and you will need to know up-front what your budget is before you can begin your search. The right real estate investment will generate revenue to pay your monthly mortgage payment and expenses, but there may be months when your property is vacant. Therefore, in addition to thinking about the amount of down payment that you can afford, also think about how affordable it will be to manage property expenses when the space is vacant.

Consider Different Communities

You may consider being flexible regarding the communities that you invest in. Each community may have a different economic base and primary demographic. For example, some towns or even suburban communities may be largely comprised of college students or military professionals. Think about the benefits between the ease of finding new tenants versus the benefit of having long-term tenants.

Analyze Cash Flow

After you have found a few properties to consider, it is important to analyze cash flow. Each property will be unique with regards to the required mortgage payment, income generated, property taxes and even repair and maintenance needs. While you can estimate these expenses initially, you should request historical operating statements from the sellers early in the process. You will find that some properties can be considerably more profitable than others, so it is important to complete a thorough analysis.

Some real estate agents have considerable experience helping their clients from excellent real estate investments to consider, and they may even complete a basic review of operating statement numbers on your behalf before showing you a property. When you are new to real estate investing, the experience and guidance of a savvy and knowledgeable real estate agent can be invaluable. When you are preparing to make your investment, consider following these tips, and seek the advice of a helpful real estate agent.

Filed Under: Home Buyer Tips Tagged With: Buying a Home, Home Buyer Tips, Real Estate Investing

Linda White - Knapp Realty

Linda White

Call (702) 301-0648
NV - BS.0143690

Robert J White

NV - S.0056824

Knapp Realty
Search for Homes →

Questions about Short Sales?

What's my home worth?

Property Search

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Connect with Us!

Hablamos Español!


日本語でどうぞ!

Categories

Equal Housing Opp

Looking For Something?

Quick Links

  • About Us
  • Accessibility Statement
  • Blog
  • Contact Us

Our Location

Linda & Robert White
Whites House Team at Knapp Realty


39 E Basic Rd.
Henderson, NV 89015


Direct (702) 301-0647 Cell (702) 301-0648 Fax 855-975-3237

Copyright © 2023 · Powered by MySMARTblog