Investing in Rental Real Estate
What procedures and formalities do you follow when investing in rental real estate?
Most Popular Reply
@Account Closed
Here is a list
Separate bank accounts for each property when you start out. Do not commingle funds with your personal money
Develop a Rental Application
Develop a lease that is compliant with your State or local laws. When I started I use the our local MLS local lease
Develop procedures how you will screen applicants. I use smartmove from TransUnion
How will you collect rent. I use an electronic format
How will you handle maintenance complaints
Will you self manage or hire a property manager
Read Brandon Turners book on Rental Property Investing and Managing Rental Properties
Listen to Podcast
Good Luck.