How to Invest in Your First Property

Joseph "Joe" McInerney Chicago
2 min readMar 30, 2022

There are many different ways for property owners to make money on their investments. One of the most common ways is by purchasing a rental property for either residential or commercial use. Yet getting into real estate investment can be tricky and intimidating. There’s a lot to research and learn before making your first purchase. Here is some advice on investing in your first property.

Is It Right For You?

Before making the big decision to invest in real estate, ask yourself if this is the right move for you. Does it make sense financially? There are mortgages and operating costs to consider, along with any surprises that may crop up. Other concerns include whether you’re willing to deal with tenants (this can vary depending on whether the property is residential or commercial). Don’t be afraid to think things over before making any final decicions.


First things first, investing in real estate requires funding. For your first property, you’re more than likely going to need to rely on a mortgage rather than being capable of paying for the property upfront. Ideally, one should strive to get preapproved before they begin seriously looking for property to purchase. This will streamline the process while allowing you to move quickly when you find the right property.

Generally, one should expect to put down between ten and twenty percent of the property value as a down payment. This will need to be considered in addition to handling a mortgage.

Property Hunting

Once all the finances have been accounted for, it is time to start property hunting. Two primary concerns for this part of the process would be location and budget. It is beneficial to look at different areas and research their average rental prices, as this will provide an idea of prices and returns.

Property Management

One final thing to consider is how the property will be maintained. Are you going to be the property manager? Or is hiring a property manager a better option? The latter is beneficial if you want to be hands-off, own properties outside of your area, or hand it off to someone with experience. However, remember that this will cut into the return on your investment.

Article originally published on



Joseph "Joe" McInerney Chicago

Joseph McInerney of Chicago has a long career of guiding investment decisions for private investors. Learn more at!