Beginning

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Beginning (by Deonta Aaron Wilson [IL]) Oct 23, 2014 1:12 PM

Beginning (by Deonta Aaron Wilson [IL]) Oct 23, 2014 1:28 PM

Beginning (by Cheryl [CT]) Oct 23, 2014 1:48 PM

Beginning (by DIXIE [KS]) Oct 23, 2014 2:32 PM

Beginning (by Andrew,Canada [ON]) Oct 23, 2014 2:50 PM

Beginning (by Deonta Aaron Wilson [IL]) Posted on: Oct 23, 2014 1:12 PM
Message:

How do I get started?

--24.12.xxx.xxx

Beginning (by Deonta Aaron Wilson [IL]) Posted on: Oct 23, 2014 1:28 PM
Message:

Im not sure I understand --24.12.xxx.xxx

Beginning (by Cheryl [CT]) Posted on: Oct 23, 2014 1:48 PM
Message:

Are you looking into buying rental property? If so, have you narrowed it down to multi-family places or are you interested in single family houses? Have you looked at the prices in your area and have you saved the 20% down payment along with closing costs? If so, I recommend finding a good realtor and reading a lot of books on landlording before you jump in. It isn't for the faint of heart and you need to be educated before you begin. Reading the posts on this board regularly will be a lot of help too. Good Luck. --98.179.xxx.xxx

Beginning (by DIXIE [KS]) Posted on: Oct 23, 2014 2:32 PM
Message:

Here's what I did:

Find a house you like. Buy it. Move in. Fix it up just right [while you live there].

When finished, find another house. Repeat above.

Ditto.

I only had to do that 5 times because I then had enough equity in the houses to be considered reputable by the bank.

Now I have 18 and that's enough for me.

. --67.143.xx.x

Beginning (by Andrew,Canada [ON]) Posted on: Oct 23, 2014 2:50 PM
Message:

"How do I get started?"

-first ask yourself WHY do you want to be a LL? You will have lots of difficult times ahead if you take this path and without knowing WHY you are doing it, you will probably burnout quickly.

Also study your local rental laws. Some areas have fair rental laws and protect LL's. Other areas have very biased rental laws and you will constantly be dealing with unfair legislation, tenants who have learnt how to manipulate the system, painfully slow evictions, unrecoverable financial losses ect.

If you have a spouse, make sure they are on board with you being a LL. Otherwise it may even cost you the relationship. I learnt that the hard way. --70.29.xx.xxx

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