Don’t skate to where to puck is,
skate to wear the puck is going.
This is a great quote and something that really resonates with me at this time. You have to move toward where you want to be, not where you currently are. So many people want to learn to buy their first rental when the market is great and they are looking to buy. The truth is, you should learn how to buy your first rental before you are ready to buy it. You should then retain the knowledge you obtain in this book to educate yourself on when is the right time to buy the rental and what rental is the right one to purchase.
If this Pandemic has taught you anything, it should be you need a side hustle. You cannot let yourself to be dependent on one income, no matter how reliable you think that income is. Rental Properties are a great side hustle. If you buy the right rental property, at the right price, it can give you a consistent monthly income to supplement the income you have already established.
So why don’t more people use real estate as a side hustle? It is because they don’t understand it. The truth is owning a rental property can be a great experience or an awful experience. The determining factor is if you are educated on buying and managing a rental property or if you are learning as you go. I love learning as you go in a lot of things, but rental property isn’t one of them.
If you are interested in obtaining a rental, then take the time to read my book “The ABC’s of buying Rental Property.” The next couple of years you may have the biggest buying opportunity you will see in your lifetime, so you need to be prepared. I wrote this book to prepare you with all of the information you need to know when purchasing your first rental. I am going to help to prevent you from making the same mistakes new investors make and to maximize your investment.