Gaining experience as a landlord
Happy Thursday to everyone,
I need some information, hopefully somebody here can help me. I know that when you are investing on a multifamily or apartment building, when you apply for a loan in order for the banks to take the rent money in consideration as income, you must have some management experience. Like two years minimum or something like that. I’m getting ready to rent out one of my homes that I owe, and I’m planing on managing my self because I want to get this experience as a landlord. So that I can use this experience when I apply for a mortgage for my next investment. With all of that being said now my question is, what type of documentation do I need to keep to prove to the banks in the future that I have been managing this property my self??