Managing Investor Portfolios - Part 1

Managing your investor's porfolio can sometimes be a tricky task.  It takes a lot of due diligence to ensure that your investors are getting the best investment homes/apartments/commercial buildings. 

One of the most important aspects of successfully managing a portfolio of investment properties is tenant management.  Being able to put high quality tenants into rental properties will save you more time, money, and headaches than you could ever believe.  One strategy to consider is using a company like National Tenant Network to do your credit and employment checks on perspective tenants.  However, I prefer to be more hands on in the tenant screening.  I often sit down with each tenant and conduct a short interview with each perspective tenant.  Once i'm comfortable with the tenant I will proceed with a verification of employment and credit screening.  Remember to alway ask tenants for proof of income and copies of their drivers license and/or social security card as well as their address for the last 3 years.  The last thing I do is ask the tenant for 3 references with one of them being their prior landlord.  In the rental world it can sometimes take months before an eviction shows up on someones credit report so I try to contact any previous landlords. 

If you follow those steps you will find that you and your investor will save money in repair expenses and court costs and time management.

Stay tuned for part 2 of Managing Investor Portfolios