So you want to be a landlord?
05-27-2020, 05:52 AM
(05-27-2020, 12:05 AM)PJ Wrote:(05-26-2020, 03:26 PM)MiscellaneousDave Wrote:(05-26-2020, 02:35 PM)PJ Wrote: These stories are too awful lol. I really would like to use rental properties as a little supplemental income but I can't see a scenario where it works out well.
I think it can. But there are a few key things to keep in mind.
- Have them nearby (where you can drive and pick up the rent while actually checking on your property)
- GO WITH YOUR GUT. If you think they are scumbags, don't rent to them. Don't be desperate to get that rent where you pick anyone.
- Save some of that money for repairs and such.
Thats a really good idea to physically pick up the rent each month. Hate to not see the property for 6 months or something and get a big surprise one day.
You can even replace the AC filter each month too to make sure it gets done, and again allows you to make sure all is well.
I will tell you that In Florida it is a PAIN to evict someone, not sure about up there. That is something you may want to research too if you decide to do it.