what classes/degrees should i go for

Question

im interested in starting a career as a landlord and I want to know if there are any degrees or classes tht are helpful in the field

Account Closed · Answer

Well thank you Linval.  How nice of you to re-post that.

Nancy Neville

Linval T. · Answer

@Anthony Hartzog - Welcome to BP where you will find a trove of info and near real time help to your inquiries.

I found a response to a similar question by @Nancy Neville and it has a lot of salient points that will start your education in REI and the road to being a landlord.....here is Nancy's response which is a course outline in itself.

This is a very good question and one I feel strongly about when new investors are interested in becoming a landlord.

First of all you must accept that this is a business of evictions,  damages, fires, tenants not paying rent, and more. This is a business of  people management. We are responsible for other people's lives and  their families. Yet we seem to just jump into it without any knowledge  or Continuing Education Courses required.

The media, the courts, and the neighbors, and sometimes family and  friends view us a the "Dastardly Landlord" who only have broken down  homes for rent. We care nothing about money and my mission has been to  change that mindset for a very long time. So let's begin.

This is a business of

*Fires

*Damages

*Vehicles left behind

*Clutter left behind

*Hoarders

*Dirty Carpeting and walls

*and Left behind vehicles

*Not to mention really nasty stuff that smells bad!!!

Once you accept this as part of being a landlord and view your home as a  "tool of the trade", although and expensive one, and that this is a  business of damages, repairs, fixing up your home, evictions and doing  it all over again and again, only then will you be a true landlord!

So the bottom line is that you need a plan

You need to know the things that you don't know.

You need to know the following:

*Location, Location, Location, How much rent can you collect in this location? What are the rents going for in this location?

*Take into account, Cash Flow: Mtg pymts, Property taxes, Property  Insurance, Normal Repairs, Damages, Vacancies, Tenants not paying rent,  Evictions.

*You need to know the landlord/tenant laws of your State and the City Ordinances of your rental properties.

*And you need an EXIT PLAN! Even if your young!

*You need to know how to advertise and words you should use.

*You need to setup your office (whether home or building) with the right  equipment, such as a color printer, computer, Internet, webpage, vonage  phone, stamps.com, etc.

*You need to screen your tenants and know what to ask them.

*You need to have a rental criteria

*You need to have excellent curb appeal

*You need to have an appealing open house, application forms, good  setup, with card table and chairs, pens and paper, receipt book, etc.

*You need a legal binding lease agreement. You need to know whether to  rent your homes out month to month or annual and know the difference.

*You need to attend some court sessions to see how the court system works.

*Purchase as much landlord information as you can as you can write it off.

*Purchase a good financial software program.

*Study the legal forms and know what they mean and when to send them.

*Take before photo's prior to you renting out the home and photo's when  they leave. Have the tenants sign the before photo's at the signing of  the lease.

*Once the Eviction has been started, never never never try to interfere  with the process after such as locking a tenant out, going to the home,  harrassing the tenant for non pay, even if they are DESTROYING YOUR  HOUSE!

The eviction process is a sad and dangerous time. If you take matters  into your own hands you could lose you case, you could lose everything  you own, you could receive jail time, and more importantly you could  lose your life. That is why we have a court appointed official called a  Bailiff to handle this matter and NOT YOU!

I hope I have helped you and I wish you good luck.

Nancy Neville

Ryan M. · Answer

A degree in Psychology

Al Williamson · Answer

@Anthony Hartzog

Great question. You've gotten some great advice already.

May I add that you need to complete what you start. Getting a degree is an indication that you can get closure - and that's important for goal attainment.

So - keep the promises you make to yourself and you'll do fine.

Bryan O. · Answer

Also keep in mind that you may be required to have your real estate license if you plan to manage any properties that you do not own.

Linval T. · Answer

@Nancy Neville - You are welcome. That was a well written post that deserves more exposure than it initially did.

Frankly, you took the time and effort to put that masterpiece together and it's well worth it.

I will definitely revisit it as my continuing education :-)

Ellis Paul · Answer

great stuff...

Arlan Potter · Answer

The school of hard knocks.

A quick course on how to use QuickBooks will save you a ton of money down the road.

what classes/degrees should i go for

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