Rental Property Tips?

[Brenden Evans]

Hello, 

I am a 21 year old real estate investor out of Los Angeles California. I own some rentals in Cleveland and Milwaukee and I am a couple of weeks from closing on another multi family in Wisconsin. I am interested in any advice I can get in regards to expanding my portfolio in Cleveland? The do's and dont's would be greatly appreciated as I am always trying to learn. Any advice? All investors welcome

[Nathan Gesner]

Quote from @Brenden Evans:

A large percentage of investors (maybe the majority) never really learn to manage their properties well. They lose a ton of money through common mistakes. Study the problems landlords face, learn how to handle them, create policies and procedures, and get ahead of the game. A well-managed property produces a much greater return than the average investment property.

Buy "Every Landlord's Legal Guide" by NOLO. Written by attorney investors, it's full of practical advice about the management of investment property, has sample forms that can be edited, and - most importantly - tells you what your primary state laws are and where you can read them. It's updated yearly and is the best $40 you'll spend as a Landlord. There is one book for 49 states and a separate book for California.