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Updated about 6 years ago on . Most recent reply

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Where to start as a Landlord?

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Hi Everyone.  I'm new to bigger pockets and new to the world of landlording.  I'm a little stumped on where to begin as I have 0 experience in this area but am a homeowner so I guess that's a start.  I'll quickly explain the situation:  I'm pretty lucky b/c my dad has helped me invest most of my income from the ages of 16 - now (35) in 2 multi-family apartments in Queens NY (1 6 family, 1 4 family).  He's been taking care of them for approximately the past 8 years and now it's time for me to take over.  On the downside I have a full time career as a teacher and run a full time business which eats up about 65-70 hours per week (I know, wah wah, cry me a river).  Although my dad's a great guy he is not a good teacher in passing off these buildings to me and simply said "it's easy just collect rent and pay bills."  Although that sounds easy I know it's going to be much more time consuming than that.  Although I have obligations from my career and business I am excited about this new step in my life but want to slowly transition into becoming the landlord of these apartments in the most successful way possible.  Any suggestions/feedback/ideas/stories of similar situations would be helpful and appreciated.  Thanks in advance and I'm looking forward to being a part of the community.

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@Charles Kao thank you for the brutally honest but proactive response.  I have picked up and am currently reading Brandon Turners Book on Managing Rental Properties.  Thank you for that suggestion @Jordan Moorhead.  Found that about a month ago through Amazon and that's how I got the connection to this website.  Also I have started to listen to podcasts, put together a portfolio and some other minor things.   Definitely not looking to be an armchair investor or be told what to do.  Don't want to go the property management route and am willing to, and am going to, make the first step and many more.  I'm not afraid of it, was just out looking for successful ways in doing so.  Didn't really know what else to say as my first post on this website but do look forward to getting more involved and asking more detailed questions to get specific answers.  Thanks guys.

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