Beginner Landlord - Landlord Forum thread

Beginner Landlord by Frugal (PA) on February 8, 2010 @18:04

Hi,

My story is really simple. I am about to purchase an investment property and while I am fairly good with finance and making the numbers work, this will be my first rental and experience as a landlord.

Can you please point me to some resources, and what should I do as first steps? Something like Do's and don'ts , good websites, books to read, what you wish you knew/read etc.

Thanks so much and happy investing!

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Re: Beginner Landlord by Anonymous on February 8, 2010 @19:25	[ Reply ]
Don't worry about where to look for landlord "how to" information. Your tenants will teach you a new lesson every week.

Re: Beginner Landlord by ARP (NJ) on February 8, 2010 @19:45	[ Reply ]
On the right of your screen, click on the LANDLORD TENANT LAW link and look for your state or click on the TIPS & ADVICE link.

Re: Beginner Landlord by lpa on February 8, 2010 @20:34

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Well, you are way ahead of me when I started because you have a great group of landlords to turn to whenever you have a question or a problem. You have the power of the internet.

Read the LPA website's articles and forms. It the best of many books all rolled into one.

Check out the LPA's Books page for some good landlord reading and legal books.

Check out The LPA Newsletter archive and Landlord Articles.

Finally, I recommend you use LPA forms to screen and lease your property when the time comes. A membership will pay for itself many times over.
Good luck!
John

Re: Beginner Landlord by Anonymous on February 9, 2010 @09:13	[ Reply ]
And read through some LL books to get the basics. NOLO press has a few good ones. Go to the library and get Every LL's Legal Guide to learn the basics.

Re: Beginner Landlord by Libby (Pa ) on February 10, 2010 @09:58	[ Reply ]
I read Property Management for Dummies. Very helpful.

Re: Beginner Landlord by al (ca) on February 10, 2010 @21:43	[ Reply ]
I dedcided to not pay for anyone's advice and learn on my own. I found myself in over my head with bad tenants pretty quick. I can tell you to join LPA and buy books and do what ever you can to learn what the heck you are doing. It will be worth the investment.

Re: Beginner Landlord by Rick (GA) on February 14, 2010 @07:28	[ Reply ]
Owning rental property is a business. Do the same research you would do if you were to invest in any other business. Most businesses are cash or COD, but in this business you extend credit to every customer (tenet).