Updated almost 9 years ago on . Most recent reply
First Time Multi-family Home
Hello all!
I am attempting to buy a live-in Multi-family home with a VA loan in San Diego. This will be the first time that I have every bought a home, but I want to get started investing before I retire from the Marines. I have a few question if I may solicit your advice:
1. What the hell and am getting myself into?
2. Where do I find the laws about being a landlord?
3. What are the do's and don't that I need to watch out for?
Most Popular Reply
1. You are getting into a wealth generating journey that has its ups and downs.
2. Contact your housing department to see if they give free courses in your area regarding laws effecting landlords. You can also visit your local REIA and Neighborhood Housing Services.
3. From previous experience its best to move in first then get your tenants. When you do this then you will know what needs to be done. After a week go get tenants and screen them carefully. If you are getting a realtor, get one with experience. Make sure they screen criminal activity, housing court records, bankruptcy. Make sure you ask them the questions that matter to you. For example: I do not want people with animals, so I will ask them. My uncle is asthmatic so if you smoke you cant live in his house. I am asking about hobbies, how long they have been on their job and in career.