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Updated almost 3 years ago on . Most recent reply

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4
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Heshan Abeywickrema
  • New to Real Estate
  • Omaha, NE
0
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4
Posts

Converving primary residence to a rental.

Heshan Abeywickrema
  • New to Real Estate
  • Omaha, NE
Posted

Hi folks, I've been listening to the podcasts for awhile now and have a general idea of what needs to be done. However it feels very daunting and want to get some input on converting my primary residence to a rental. We (my wife and I) move to new place and decided to rent out the other. I refinanced my previous mortgage to a new 30 year loan. The PITI is about $1400 and the current market for a 3 bed 2 bath is about $1700 to $1800. I want to self manage the property so that the PM wouldn't eat into my cash flow. I wanted to reach out since I have no clue on how to pick a real estate attorney and draw up a contract regarding tenant screening. I want to get the property rented out asap but want to cover all my bases and have a good tenant. Thanks in advance for any advice and sorry for being so wordy.

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