Quadplex with FHA loan @ 3.5down in Atlanta

[Brendon George]

Hi Bigger pockets community, I just purchased my first investment a quad plex in Gwinnett County, Atlanta closed yesterday, looking to house hack. Obviously this will be my first time land lording any major hurdles or suggestions to research on this topic? how can I make this next step a smooth transition?

[Doug B.]

Congrats on your first investment!  The first one is always the hardest.  I would have a plan for the following, especially if you are managing yourself.

1) Tenant screening is very important.  Yes you want to rent it quickly, but if you have to wait a little longer for a good tenant, it is worth it in the long run.  Sometimes first time investors get to nervous and will take the first person that applies.

2). Think through how you will deal with rent collection and maintenance.  You want to have a system in place so when the first thing breaks you have someone ready to fix or know if you planned to fix yourself.  You also need to decide if you will let the tenants know you own the building or are just “managing”.  There are different thoughts on this, but some like to say just managing so they can blame th owner for rent increases, late fees, etc.   it ensures the relationship is strictly business and it is easier to stick to the lease and not let the sob story make you bend the rules.