Slavik Lund
How to Buy Your First Rental in
3 Months
Step by step guide to your first deal
Hey! Thank you for checking out this blueprint. If you’re here, you’re probably looking to take that next into homeownership or purchasing your first rental property.
You’ve come to the right place! This is your step-by-step guide to deepen your family’s legacy.
Month 1 - Let's Kick Things Off!
Week 1
Know your numbers! - This is your pre-approval. It’s a necessary starting point because it'll help you create a plan based on your current situation. You'll know how much you can shop for and get any next steps that will help you get in a position to buy. (and its free) you can start this process by clicking here.
Week 2
Build your team - The agent and lender you choose will be your biggest advocate and your guide to all questions. Spoiler alert - not all agents & lenders are cut from the same cloth. Finding an agent you work well with is a crucial part of your investment journey. (my team and I would be happy to connect you with someone)
Week 3
Start property shopping - Start exploring properties that fit within your pre-approved budget, using online tools and your agent’s recommendations. It's also important to visit properties that catch your interest to get a feel for what you like.
Week 4
Continue shopping - Narrow down choices and refine your list of potential single family or multi-family homes based on your visits and any new listings that come to market
Book a CallMonth 2 - Found ‘the one’?
Week 5
Making an offer - Strategize with your agent and loan officer to craft competitive offers on homes you’re interested in. After you land on a plan, your agent will submit your offer and negotiate on your behalf.
Week 6
Offer accepted - Once you're in contract, proceed with a home inspection and negotiate any necessary repairs. Your agent will be able to help guide you through this.
Week 7
Loan process is under way - Your lender will collect any remaining documents they need to get your loan approved. They will also order your appraisal which ensures you aren't overpaying for your property.
Week 8
Closing preparation- Await final approval from your lender. Make sure you submit any requested documents as soon as possible.
Book a CallMonth 3 -The Final Stretch
Week 9
Final loan approval - Your mortgage has been approved and funds are ready to be sent to title.
Final Walk-Through - Conduct a final walk-through of the property with your agent.
Week 10
Review documents and clear to close - Review any loan documents with your lender and make sure any questions regarding closing are answered.
Week 11
Closing day- You'll sign all of the closing documents and the property will officially be yours!
Week 12
Moving day - Congratulations! The first big step in your financial future is complete and a new chapter starts! Remember, we've always got your back even after you've moved into the property.
Book a CallHow to Buy Your First Rental Property
Start Here ⬇
If you're interested in owning a rental at any point in the future the next step is to take my quick home buyer quiz. It takes less than 3 minutes to complete and will tell you if you're in a good position to buy a home, your first rental, or both?. It is never too early to start this quiz and has the ability to save you tens of thousands of dollars when you purchase.