2020-12-10 Advice For New Landlords
| By:
Jeff Taylor
HOW DO I SURVIVE NOW? by Mr. Landlord
Landlords reveal what advice they would tell a new investor if they asked about being a landlord now (especially given the current state of affairs):
- *Check your state and local laws carefully (particularly for various state and federal eviction restrictions and moratoriums.
- *Work alongside a seasoned landlord for one month as an unpaid intern.
- *Screen potential tenants like your livelihood depends upon it, because it does depend on it.
- *Spend one hour every day reading landlording forums like MrLandlord.com/LandlordForum.
- *Create or modify your lease so that it covers EVERYTHING. Have a real estate attorney review it.
- *Don't be in a hurry to buy a house, and don't fall in love with the house you're buying.
- I also add my two cents: Right from the start, learn all you can about how to run a rental business (not just how to manage properties), AND put your trust in God.