Follow this checklist to make smart down payment decisions and avoid costly first‑deal mistakes
Based on: How Much SHOULD You Put Down on Your First Rental Property? by BiggerPockets
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What if the biggest mistake you could make on your first rental property has nothing to do with the property itself — and everything to do with how much you put down? Most first-time investors obsess over maximizing returns on paper, only to find out the hard way that real life looks nothing like a spreadsheet. Sound familiar? You've been saving diligently, researching markets, running numbers late at night — and now you're staring at a real decision with real money on the line. The pressure to make the perfect move is real, and one wrong call could set you back years. Here's what the BiggerPockets experts Dave Meyer and Henry Washington want you to understand: your number one goal on your first deal is simply not to lose. Not to hit a home run. Not to build a three-property portfolio in year one. Just get on base, learn the game, and live to invest another day. Dave and Henry have done this for years across multiple markets, and they've watched investors make the same painful mistakes over and over — buying cheap properties without a team in place, overestimating future rents, and making bad business decisions just to avoid a tax bill. The investors who actually build wealth are the ones who stay in the game long enough to get good at it. Imagine closing on your first rental property knowing exactly why you chose your down payment amount, having a clear-eyed view of your cash flow, and walking away from closing with confidence instead of anxiety. Imagine having a team of contractors, agents, and lenders already lined up before problems arise. That's not a fantasy — it's what happens when you follow a proven decision framework instead of winging it. This checklist distills every actionable insight from Dave Meyer and Henry Washington's expert Q&A into a step-by-step PDF you can work through before you ever make an offer. From down payment strategy to 1031 exchange timing, house hack math to knowing when to cut your losses — it's all here, organized so you can actually use it. Stop second-guessing yourself and start making decisions like an experienced investor. Work through this checklist before your next move.
Every checklist item comes with actionable notes to guide you — things like "Don't forget to do this before you start," "Avoid this common mistake," or "Set a reminder for 30 days out." Nothing vague, just clear next steps.
+ 19 more action items inside...
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