Rental property managment

[Matthew Wilson]

I am a brand new member. I am in my early 20s and am active duty in the military. I am currently renting and am looking to to buy a duplex when my lease is up in 6 months. I want find a duplex to live in one side and rent the other and then acquire more properties as time goes on. I was wondering what the best way to get started was. What to look for in a good property, whats the best property management company to use, books or media to help educate myself, etc. I have lots of ambition and am willing to work hard to make it as a part time landlord. Any guidance would be appreciated.

[Sean Rooks]

Matthew, 

I'd recommend a few things to help you get started:

1) Start listening to the BP podcast as often as you can (on your way to work, working out, etc). Tons of free education right there. 

2) Read all the applicable blogs on BP about starting out, and house hacking.

3) Join TRIG, once there try to network with some of the many investor-realtors and wholesalers. Once you find someone you like, start looking at as many duplexes as you can find (even if you aren't ready to buy yet) so you get a feel for the market and learn how to identify a good deal. Also start linking up financing... I'd recommend a FHA or VA loan for your situation.

in 6 months... go for it! I think most people would recommend land-lording yourself for 2 reasons: To learn how it works, and to save that money. But over to your situation and deployments. 

Reading list: Set for life, BP book on managing rental property.