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Updated over 6 years ago, 06/18/2018

User Stats

43
Posts
35
Votes
Brian Washburn
Pro Member
  • Rental Property Investor
  • Omaha, NE
35
Votes |
43
Posts

Advice for investors on their first rental

Brian Washburn
Pro Member
  • Rental Property Investor
  • Omaha, NE
Posted

After 6 months, 50+ properties analyzed, 10+ property tours, and 2 offers, I am finally under contract to buy my first rental property in Omaha, NE! A 3BR/1BA in Midtown near UNMC and the VA hospital.

While I feel like I have learned a ton about finding deals, I am starting from scratch on how to find tenants, how to screen them, what little things to include in a lease, how to run credit checks, etc! Other than reading one of Brandon Turner's books, I am looking for advice in the following areas:

- Good sources of rental apps and leases (NE is not available through BP yet)

- Non-standard items to include in a lease or app that can be a real lifesaver (pest control, charges for clogged drains, etc)

- Free/cheap/effective places to post my listings besides FB and Craigslist

- How do I run credit checks for applicants?

- Tips for collecting rent (Can I use PayPal / Venmo for convenience and avoid paper mail?)

- Other things a 1st-time landlord needs to know but does not think about.
 

 Thanks in advance for all of your input!

  • Brian Washburn
  • Loading replies...