Anyone free to help a fellow newbie out?
Hey everyone,
My name is julien and I would like to start off by thanking you for taking the time to read this post...
I am a beginner investor interested in investing in multifamily homes (3-4 units) in the Boston area (North and South shore). Although I am excited to begin my real estate journey, I do have a FEW questions for those with experience in the game:
Question 1: What is an efficient way to perform a property analysis? I have "practiced" with MFP I've seen on Zillow and Redfin and my numbers never come out the way I want them to...Two metrics I tend to have issues with are estimating rehab costs and utility costs.
Question 2: I, and probably most other beginners, have never run a background check on tenants. How would I go about doing this? What are some pros and cons to look out for when choosing the right tenants?
Question 3: When creating your leasing agreement what are some important things to add and what are some things not to add?
Question 4: When should I consider hiring a management company to manage my properties?
These are all the questions I have for now. If any other questions come to mind, I'll be sure to reach out!
Thanks,
Julien