Required documents to be a landlord

[Hoa Nguyen]

Hi everyone, I'm looking to start off my real estate investor career. I'm putting together my gameplan and my goals, but I've hit a road block that for some reason isnt clear anywhere I do research. And that is the required licenses, documentation, and legalities of renting out a property. Do I need a broker's license, do I need a permit? I live in illinois and I realize that different states have different laws. So if anyone from Illinois here knows what I need to get started that would be awesome!

[George Skidis]

1. No broker's license is requred unless you wish to manage property for someone else.

2. Whether or not you need a license depends on which community you do business in. Alton yes. Cahokia, no. Every city is different. Check with their code enforcement or housing department.

3. Once you have a property to rent make sure you insure it as a RENTAL property and not owner occupied unless you live there also.

4. Join Illinois REIA. We meet in Cottage Hills, by Alton on the first Monday of each month and Belleville, IL on the third Tuesday.

5. You will also need an atttoney you can afford. PM me for details.