Steps to take after Obtaining your first Investment Property?

Question

You’ve bought your first Investment property.  Now what?   Should you have already had a process in place to get a lease ready for a tenant?

Did you use your real estate agent to help you market, find and house a tenant?

Did you screen them yourself?   How did you check their credit?

Is a property manager necessary for only one property?

What did you do immediately after obtaining your first property?   I would like to hear what worked and what didn’t work if at all possible.

What recommendations do you all have for owner actions the day after closing?   If there’s something that needs to be done well before closing, I’d appreciate  you sharing that info as well.

Stephen Brown · Answer

I found a lease before I had my first property.

I uploaded it into my property management software.

I advertised my place on Zillow and Facebook.

I showed the property. I ran background checks and credit through the PM software and then chose the qualified tenants.

Then I had them sign the leases. They rented :)

Steps to take after Obtaining your first Investment Property?

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