Bought a House to Rent...Now What?

Question

I'm new here and used the search function but couldn't find anything. I actually haven't made my first purchase yet, but I hear about all these deals being made to buy homes and apartments, but haven't come across any resources saying how to rent out the property. How do you make people aware that a property is for rent...stick a "For Rent" sign out front, mailers, etc.? Any advice or coaching would be appreciated. I'm looking at properties in the suburbs of Detroit (not in the city). Places like South Lyon, Livonia, Berkeley, Royal Oak, Livonia, Brighton, Novi.

Dave Van Horn · Answer

All the above. Don't forget about zillow, craigslist, facebook marketplace and other similar sites. You could also hire a property manager out of the gate on the first one to assist with compliance on local rules/Fair Housing Laws and to help you with your lease template.

You might want to check out Brandon Turner's (of BiggerPockets) book on Rental Property Investing. He has a section on "How to Find Great Tenants" among other good pieces of info for first time landlords.Rental Property Investing | Best-Selling Business Book – BiggerPockets Bookstore

Justin Hammerle · Answer

If you don't want to do things yourself, you can also hire an agent or property management company to take of the leasing for you.

Dave Skow · Answer

@Adam Chalmers- thanks and good luck ...most renters  seem to find options on social / bulltein board type sites ...so try your suggestions as well as  learn  the  electronic  methods ...if you will need to use financing to buy the property(s) - get  pre approved so you can be  ready to  make an offer  and good luck

Bought a House to Rent...Now What?

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