Prepping to be a first time Landlord

[Bassim Audi]

Hello! 

I am working towards closing on my first 3-unit home. I will be living in one and renting out the other two. I'm looking for some advice on what tools are must haves for the small stuff that comes up. Also, any other suggestions on what else to start looking at or prep work i could be doing you have are very welcome! 

I appreciate you taking the time to respond. 

[Tyler Gibson]

@Bassim Audi You need to find leases that you will use and I suggest using something like Cozy.co or one of the other landlord software. You want to make it easy for tenants to pay you and you would rather they do the automatic bank draft instead of cash. Also you need to determine how you will do background checks and credit check. Many of the landlord software have solutions for those things but you need to find a valid legal lease for your state. If you are not handy and don't already know how to fix things then I wouldn't run out and buy tools. If you plan to fix things yourself then bravo but wait to buy tools until you need them. Also youtube anything you need to learn it is an incredible resource for learning how to do repairs. Focus on how you will vet your tenants and collect rent. Remember that the quality of your returns is dependent on the quality of your tenants. So be picky it will pay dividends in the long term.