Hello I am a newbie to the whole real estate investing what tips or advice would you give someone ?who wants to rent or own a multiunit properties such as a duplex ?
Rental Property Investor · Victoria TX / Portland, OR · Member since 2019 · 94 posts · 96 votes
6y
Plain and simple, the best advice anyone can give you, and the best route that you can take for yourself, is to educate yourself. Start broad and narrow your focus. For instance, Real Estate Investing For Dummies is not going to give you an in depth analysis of anything in particular. It will, however, give you an overview of a lot. It will give you a baseline of what you need to know, whereupon you can then begin enriching your knowledge.
As for having an interest in multifamily properties, you should probably start with reading up on how to be a good landlord. You can get a great investment, but run it into the ground because you don't know how to knowledgably handle situations that arise. You must learn and understand the importance and the reason why late fees should never be waived. You should learn and appreciate what the landlord/tenant boundaries are. Learn about what makes a good lease. Learn about what you can by reading top rated books. Listen to podcasts. Read forum posts.