JUST Sold it, Contacts are your biggest resource

[Deanna McCormick]

Just sold it after personally being in the rental business as a landlord, property manager for my family's rental business I finally sold the last rental property we had. Besides working for the family business I had worked for many years for other property management companies as a site manager so that background was valuable. 

What I learned is your contacts you make in the rental business are your biggest resource, you'll never appreciate more of what you can learn here on BP than the average landlord.

Our family owned e properties, Thru networking I sold a 6 plex and a 5 plex 3 years ago and all from a referral of a boss I worked for as a property manager. The last property was sold to a neighbor that had contacted me 4 years ago and basically just kept up with letting me know they really wanted our property.

Having the properties appraised prior to any sale was my best armor all were private sales and no realtor commissions. 

AND all my properties had all tenants on month to month leases, this was how we ran our family rental properties and made any sale desirable to the new owners. 

Who knows what's up for me next,, I've got the rental business in my blood and will probably invest again in the future but for now I won't have to worry about the phone calls for emergency repairs.