Newsflash: (Future) First Time Investment Property

My family has always own an investment property or two. And that’s something I’ve always wanted to get into. I know the struggles and the headaches. But it’s also the investment option I am most comfortable with and most interested in. I am a couple years away from being able to do that. I’m currently getting my Masters so time is tight and financial I want to boast my retirement and save a little more cash for my goals.But in the meantime I am looking for some advice on what I can do now to prepare for that in the future. I think by my mid 30s I would like start investing in rental property. So that gives me 7-8yrs. I’m married, with no debt (except my mortgage), I have a healthy ER, and contribute about 15% to retirement. So my personal finances are in okay shape.To prepare over the coming years I want to save 20% for a downpayment (plus closing costs), probably about $25,000 for the market I’m in. Save an additional $10,000 for repairs and unforeseen expenses. And do a little more research on what makes a good first investment property. And look into areas I would be interested in.I know there’s more I could be doing. What am I missing? What do I need to be aware of before investing in my first rental property?

Read more at https://www.reddit.com/r/RealEstate/comments/6egznj/future_first_time_investment_property/?utm_source=ifttt

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