I had a great evening, real estate wise. The best part was working with an investor who has owned rental houses before but has never had to do any tenant selection on her own. So I’ve been walking her through advertising the income property and answering calls/emails and tonight we met together with a prospective tenant couple. She let me do all the talking, question answering/asking and such. She seemed to show tenants houses the same way I show houses to her…I let them look around and leave them alone. But she said she wasn’t suprised at how I went over in detail what I would expect from them as tenants and, in turn, what they could expect from her as a landlord.
- Read all you can and go out on your own. Figure things out as you go.
- Hire an investment “mentor” and follow him down the path. (Someone who can actually show you what they are doing NOW…not 5 years ago.)
- Work with a professional real estate agent that has a proven track record. My guess is, and this is only a guess, that each major city only has about 4-7 of these guys. Here in KC my figure is about 6 out of the 13,000 agents. Better interview carefully!
But whatever you do…Don’t buy the books, tapes and seminars of the real estate gurus! Why? Give me a call or email. We can discuss it.
Here are a couple links to sites that would be worth your time to visit: