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Updated over 5 years ago on . Most recent reply

User Stats

706
Posts
171
Votes
Joshua D.
  • Rental Property Investor
  • Pittsburgh, PA
171
Votes |
706
Posts

Managing rental Properties for father in law

Joshua D.
  • Rental Property Investor
  • Pittsburgh, PA
Posted

So my father in law came to me and my wife asking us to manage his rental properties which are around 15 of them. He saw we were doing are rental properties and liked how we handle them. Well im second guessing it now and wondering if i wanna mix family and business together. I met with his secretary about everything and everything really is messy. But he wants to pay me first months rent putting people in his properties and 10% for managing them. So trying to set it all up to manage his places. Is there a good way to do this? Hardest part is getting everything transferred over and getting tenants in place with the way we do things. I never thought about getting into the buy and hold business to manage other people properties. He's my father in law and hard to say no but having anxiety thinking about it all. He is a huge business man in the area and honestly the 15 properties he has is literally pocket change to him. He has so many businesses and stuff. Just not sure how to structure this and handle it all or if i should do it. Please any advice would be greatly appreciated? Alot to think about for me. 

  • Joshua D.
  • Most Popular Reply

    User Stats

    72
    Posts
    56
    Votes
    Dante Feria
    • Rental Property Investor
    • Columbus and Jonesboro GA
    56
    Votes |
    72
    Posts
    Dante Feria
    • Rental Property Investor
    • Columbus and Jonesboro GA
    Replied

    I think if you accepted and did good your wife will inherit it. 

  • Dante Feria
  • Loading replies...