Landlord 101: Resources For The New Real Estate Investor
Resources for the New Investor
There is money to be made in real estate. And while it may be difficult to afford a full-scale development, for many, owning a small rental or a vacation home is a reality, and it is one worth pursuing. But you do not want to go into it with a blind eye. When it comes to investing, your most valuable asset is what you know about the process -- and Spotlight Real Estate Group is here to help. Here are some resources and guides worth checking out.
Understanding The Rental Property Biz
There is a lot more to buying an investment property than scouring the MLS.
How to Start a Rental Property Business by Home Business Magazine.
Delaware Landlord-Tenant Code Summary or view the unabridged Landlord-Tenant Code Create an LLC to conduct business: Delaware LLC or ask us for an attorney or accountant that can do this for you for a minimal fee. Ask your legal professional about a "Series, LLC" (that’s what I did!)
Ready to Look at Available Properties? Connect with Spotlight Real Estate Group
Making Your Rental Desirable
It is not enough to simply have a place available, if you want your rental to turn a profit, you have to know how to make it stand out and price it right.
3 Simple Steps to Make Your Rental Property Stand Out in a Competitive Market
How Much Should I Charge for Rent: A Guide to Rental Rates
You Might Not Want To Go It Alone
Once the deal is done, the real work can begin. Here are some things you should know about the time it takes to manage your rental, options for hiring a property manager that can do it for you, and a few things that the future occupant of your property will probably expect. Also included is our preferred general contractor, Real Estate Contractors, Inc for improvements and repairs.
How Much Time does a Landlord Spend at Their Rental Property? I prefer hiring a property manager and would be happy to recommend them to you.
Rental House Cleaning - What A Quality New Renter Expect
Real Estate Contractors, Inc for improvements and repairs.
If you’ve made it this far and checked out the links we’ve provided, you are that much closer to becoming the master of your own income. The biggest takeaway is that owning a rental is essentially a full-time job, and it takes experience and dedication to do it effectively on your own. If you want it to be passive income, then adding property manager and general contractors to your calculation is essential to accurately projecting your expected return on investment.
Good luck with your endeavor, and may the markets be ever in your favor!
Guest Blog Writer: Tina Martin of Ideaspired