Looking for Rental Property Owners

[Josephine R Mukoroyi]

Hello,

I am looking for real-estate landlords who are self-managing their properties.  What has been your greatest challenge in managing your rental properties. 

Thanks.

[Ron Flatt]

My toughest challenge currently, is being out of state when multiple units go vacant.  

The key to self managing is prioritizing:

1st)  Screen your tenants - If a tenant does not have at least 3X rent as income they will not be able to stay current.  

2nd)  Have a strong lease, and make sure you live by that lease.  If you let the tenants slide on smoking, or pets it will come back and bite you.  (it is very rare that I forgive a late fee)

3rd)  Keep your properties maintained,  if something needs to be fixed try to get to it quickly.  A drip under the sink may not seem like much, but if the bottom of a cabinet and floor rots out you will have a huge expense.  

4th)  Keep a reserve of cash.  

You can IM, follow or connect if you like.  

Good Luck