90 days from now, you’ll be closing on your next property! That’s right, today we’re taking action and buying your next investment in 90 days or less! In this blog I’ll show you how to take action NOW!

Ok, so how will we buy a property in the next 90 days? By staying motivated and on top of things. There are a lot of moving parts to buying a property and it’s important to keep track of them! If you miss a deadline, the whole deal can fall apart and you’ll have to start over. Work on getting everything in your life stabilized and orderly before buying a home or investment property. People’s expectations of real estate are that getting wealthy in real estate happens quickly: think house flipping on HGTV. Well I’m here to say NO! Building wealth in real estate happens very slowly, so have a strong reason why you’re doing all this investing stuff in the first place other than to make a quick buck!


First and foremost, it’s important to educate yourself on real estate. We’re talking real estate terms, processes, and strategies! You’ll want to pick up a few books and read through them to get comfortable with the whole process. Next, you’ll want to pick a category of real estate to target. This could be single family homes, condos, commercial properties, or something else. What appeals to you most at first glance? Weigh the pros and cons of each. Next, decide what you will do with that type of property. Will you do short term rentals? Long term rentals? The BRRR method?

Here at Rent to Retirement we love buy and hold single-family rentals because of their steady cash flow, appreciation, and low risk relative to market downturns. We also endorse diversifying into many different markets because the more properties you have, the less risk it would be if something went wrong like a large capital expenditure or a tenant not paying, if all you had was one property.

My personal favorite strategy to get started is the house hack in which you buy a property and rent out the additional space in order to live for a discount or for free. It’s also great to look for hidden potential in a property. Do you need to buy a duplex to do a house hack? Maybe the basement of that single family house you’re looking at could be converted into another unit! Be creative!

Evaluate Your Financial Picture

In making any financial investment, we want to make sure we are in a good position to make it and not rush in blindly! So what factors do we need to look at when determining if we’re ready to buy our first property?

Credit Score

I could go on and on about this but I’ll save you the time! Go back and check out my video about credit score, how it all works, and how to build good credit. For now, just make sure your credit score is as high as it can be and give your credit report a review to check for inaccuracies.


Next, to qualify for a loan to buy your property, you’re typically going to need steady income or employment for 2 years or more. Banks like W-2 employees the best but they will still lend to you if you’re an entrepreneur or independent contractor as long as you have good records of income to show them.


Most real estate purchases are going to require some level of cash put into the deal although the amount of cash varies greatly. If you’re going to be living in the property, there are programs to put much less than a 20% down payment into the property so explore your options! For an investment property, we’re going to need 20-25% down.

Banks see you as a lower risk if you’re living in the property because it’s your housing and you won’t want to lose it by not paying! You’ll also want to budget in about $8,000-$10,000 in closing costs to purchase the property as there are lots of hidden fees that come up in the process of buying real estate like inspections, appraisals, fees from the title company, and more.

Once you have a handle on your financial picture, go and talk to a lender to get pre-approved! This pre-approval letter is a golden ticket to getting your offer accepted. Without it, sellers can’t take your offer seriously if they don’t know if you can pay for it or not.

Find an Agent or Provider

If you’re new to real estate, you’re definitely going to need a guide for your investing journey. There are real estate agents whose job is to help people buy and sell real estate. They have to take a government test to get their license. This indicates real estate isn’t as simple as some people might like to think.

This being said, you’ll need to go find a real estate agent or turnkey provider that knows their stuff. Here at Rent to Retirement, we’re happy to get you started with an initial consultation call and start the process with you. Agents are great for local markets and ask a friend who they have used to find good ones.

 If you’re trying to invest out of state, you may want a turnkey provider like Rent to Retirement. You can get all the pieces set up for you right away instead of having to find property managers, contractors, title companies, and other parties involved when investing out of state. It’s your personal preference on how much work you are willing to put in.

Make Offers

You can’t buy a property without making offers! Follow the 100, 10, 3, 1 rule to make this simple. You’ll likely need to look at 100 properties, identify 10 that make sense, make offers on 3 of them, and get 1 offer accepted. This is just the way of real estate! Not every property is going to be a good deal but with the right guidance from an agent or provider as well as running your numbers correctly, you’ll have a cash flowing asset in no time.

Once you have an offer accepted and you’re “under contract”, you’ll want to do a home inspection, and appraisal. Based on these things, ask for any repairs or credits from the seller. Again, your agent or guide for the purchasing process should have some good recommendations for home inspectors to make sure you’re well taken care of. This is called the due-diligence phase. It’s a great time to make sure you really want the property. It gives you a chance to kick the tires without another buyer swooping in and stealing the property from you.


Congrats! You’ve purchased your first property! Your agent will probably send you a bottle of wine or something and it’s now time to kick back and enjoy the fruits of your labor. You’re now a part of the club! And don’t stop now! The more properties you buy, the more you’ll thank yourself later.

The number one regret of real estate investors is that they didn’t buy more properties when they were younger or didn’t start sooner.

The most important part of all of this is just getting started. The amount of knowledge and personal growth that you will see from buying your first property will far outweigh any amount of money that you will make on the first deal. It’s all about building your confidence and getting into the game. It only gets better from here!

If you’re having trouble overcoming your fears or just can’t get that strategy in place, shoot us an email at: info@renttoretirement.com. We’ll get your ducks in a row and help you buy a property in the next 90 days

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