All Forum Posts by: John Carter
John Carter has started 1 posts and replied 2 times.
Post: Where to start with an already owned property?
- Grand Rapids, MI
- Posts 2
- Votes 1
Quote from @Sharon Rosendahl:
See if there is a landlord association in your area. We have the Washington Landlord Association for my state. They charge about $100 year and provide us with a lot of info about our laws and have a lot of documents and other help for landlords. Likely they have something similar in MI.
You are here at BP. There are loads of resources both in your state/region forum and also the landlord forum.
It is critical to vet your tenant well. That will solve a lot of potential issues. One of my background check resources regularly offers classes and newsletters that pertain to landlord issues.
Meetups are also a great way to learn more about being a landlord and investing. I even have a meetup through work as I work for a very large tech company that has interest groups.
Good Luck!
Sharon
Thank you! My first step is definitely to dive into the numerous resources here on BiggerPockets. That idea about joining the landlord association is great though. I didn't even know there was such a thing and after looking into it for my area it seems like there is a lot of great resources.
Post: Where to start with an already owned property?
- Grand Rapids, MI
- Posts 2
- Votes 1
I own a house that we will be moving out of soon. I have no need for the cash and it is in a great area and I plan to just hold onto it and rent it out. I am very familiar with business but have no residential real estate experience. It is a whole different world so I would like to be pointed in a good direction for my scenario. The property should cashflow well and should be a coveted spot, but I need to increase my Real Estate knowledge before actually delving into it so I can confirm this.
If you were in my position what specific resources would you begin reading and looking into? What would be the next steps you would take after that initial research as well? Really any advise would be helpful. Thanks.