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Updated over 15 years ago on . Most recent reply
Buying cheap properties to lease and hold
Newbie investor here. No deals under my belt yet. However, even though I intend to wholesale a few of my first, I have intentions to buy several properties with intentions of leasing them out while they build equity. The ones I buy for myself I intend to be much more selective. Ok, so I hear lots of talk about similar intentions, especially in my local REIO. Now, I have never been a landlord, but that is basically what you become when you lease a property, correct? How does one handle tenants and the problems they sometimes bring? Do you get someone to service the properties, or do it all yourself?
Can someone point me to some reading material/links/books etc?
I suppose what im wondering, is how is leasing any different than renting? If so, then how? Or is it just a different name for the same thing? At the end of the day, you are becoming a landlord. If you still have a day job, like myself, how in the heck do you respond to issues with your properties? Take calls from tenants?