Step by Step Guide to Buying a Rental

According to IRS data, just 6.7% of the population reported owning a rental property in 2018. If you're like me, you want to be in this privileged group. Owning a rental enables you to build wealth through three mechanisms: 1) Equity paydown, 2) Cash flow, and 3) Appreciation. A solid rental property will have a Return-on-Investment above 20%, about 10% higher than the S&P 500's returns in the long run. We know owning a rental property is a good move, but how do you do it as a first timer?

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