New to Landlording, Need Resources

[Michael Thompson]

Hello! My name is Michael and I'm 31 y.o.  I've been listening to the podcast for about two months now and just joined the community.  I officially became a Realtor in June so my interest in real estate now matches my title.  However, the long term goal is to buy and hold as an investment.  In the mean time I working as an agent.

I had a walk-in while covering the floor on Monday and sold my services to manage a ladies two rental properties.   They are next door to each other and one is three bedrooms and two bathes and the other is two bedrooms and one bath.

I'm starting everything from scratch: Application process, lease agreements, background checks, and everything in between.

Any help as what I should read, download, or buy in order to get this started?  I'm worried about the rental application and lease at this time.  I want to have a home run (no guarantee's I know) with my first tenant.  I also know this is question could go on forever but maybe just a couple of resources would help me while I put together my own process.

Thanks!

Michael

[Greg Dyer]

Michael,

If you plan on building a management business while accumulating your own property, a management software company such as Buildium may be helpful. They incorporate the application, background check and some promotion in their offering. Another source as a realtor is the National Association of Residential Property Managers website. http://www.narpm.org.

Hope it helps.