When I teach real estate investor clients how to buy rental property, I teach them about the 7 steps in the buying process.

These aren’t rocket science but it is good to give—especially new real estate investors that have never done it before—a visual process to follow.

The 7 steps that I teach are:

1. First Meeting - This is what you typically will learn and discuss with your real estate agent when you meet with them for the first time.

2. Pre-Showings - These are the things you’ll need to do as homework before you start going out and looking at properties.

3. Showings - This is where you’ll be out looking at potential properties to make an offer on and ultimately buy.

4. Writing Offers - In this stage you’ll be working with your real estate agent, lender (and sometimes your attorney and CPA) to make an offer on a property that you’d like to purchase.

5. Contract to Close - Once you’ve gotten an offer accepted, this is all the stuff you and your team will need to do to close on the property.

6. Closing - This is the formal process of you buying the property. You bring your funding and sign paperwork and the seller provides you with a deed to show that you own the property.

7. Post-Closing - There are things to do after you formally close on the property and, additionally, hopefully your relationship with your real estate agent does not end at closing.

I’m going to be teaching a class on How to Buy a Rental Property on Monday, so be sure to check that out as well.

In another post I’ll share with you everything that I cover and give to real estate investors at our first meeting together, but for now… here’s a sneak peek.

One of the things that I typically give to my clients either at or even before we meet for the first time is our amazing deal analysis spreadsheet. I very modestly call it The World’s Greatest Real Estate Deal Analysis Spreadsheet™. Here’s an image of it.

And, here’s a link to download it so you can see it and check it out for yourself: