Step 1: Get Pre-Approved
Before you look at properties, get a pre-approval letter for investment financing — not owner-occupant. Investment loans require 20–25% down and have different DTI calculations.
Step 2: Pick a Market
Concentrate on one market within 90 minutes of where you live, or one you'll visit quarterly. Resist the urge to chase the highest-yield city you've never been to.
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Step 3: Underwrite Everything
Run every listing through a calculator. Most investors look at 50–100 properties before buying their first. Pattern recognition compounds.
Step 4: Build a Team
Investor-friendly agent, lender, attorney, insurance broker, contractor, and PM. All hired before you close, not after.
Step 5: Close and Operate
Closing is the start, not the end. Your first 90 days as a landlord determine whether real estate becomes a business or a chore.