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re: TOS: Being a landlord
Posted on 6/12/15 at 5:01 pm to retooc
Posted on 6/12/15 at 5:01 pm to retooc
Establish an LLC to protect your personal assets. Set aside 20% of monthly income for future major repairs. Find a plumber, handyman, and electrician you trust and pay them for a couple of minor jobs to establish a relationship. When you are out of town give the tenants names and phone numbers to call if something breaks. Before you buy talk to a good real estate attorney to help with the paperwork.
All in all. you will probably find this small a rental investment more trouble than it is worth. I had 6 quadriplex units in Norcross (near Jimmy Carter Blvd) for 10 years. When I saw the economy teetering in 2006 I sold them off just before half the construction industry (most renters) tanked.
All in all. you will probably find this small a rental investment more trouble than it is worth. I had 6 quadriplex units in Norcross (near Jimmy Carter Blvd) for 10 years. When I saw the economy teetering in 2006 I sold them off just before half the construction industry (most renters) tanked.
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