How To Financially Prepare To Buy Your First Rental Property (7 Steps) | Bigger Pockets Video

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Buying your first rental property in 2025? How do your personal finances look? Building a financial foundation is a crucial preliminary step, not only for getting a mortgage but also for ensuring your own long-term success!

Today, Ashley is going to show you how to get your financial house in order, step by step, so that you’re perfectly positioned to buy an investment property. You’ll learn how to raise your credit score faster than you thought possible, grow your income through low-risk side hustles, and slash your expenses by hundreds (if not thousands) so that you can fast-track saving for a down payment, closing costs, and reserves!

But that’s not all. By the end of this video, you’ll know how to set reasonable financial goals, stay on track with watertight budgeting and regular financial meetings, and prepare for real estate investing from a tax perspective. We’ll even show you how to get preapproved for a loan and which documents you’ll need to have on hand!