Updated over 6 years ago on . Most recent reply
First time land lord advice.
Hello B.P. community!
I am approaching my closing date within the month. Just to give you some background, I am moving into my first investment property in Cumberland, Rhode Island from Massachusetts. I will be living in one of the units, and the other will be rented. It is already occupied and has a signed lease until September. I'm looking for information that could be helpful on my journey moving forward. I would love to hear about previous encounters and just simple things that a newbie may not realize. ANY help is appreciated, Thank you!
Most Popular Reply
@Brett Aguiar
I would say, make the place nice, fix things when they break, be a responsive landlord. Maintain the property, know your neighbors they will call you if anything is "off"
On the other side
My 2 biggest mistakes were.
1. Settling for a tenant, don't do it, stick to your screening criteria. I have gotten suckered by the underdog story.
2. Don't delay in starting eviction process. Waiting a month on a promise to pay is costly.
Sounds harsh but I learned the hardway.