All Forum Posts by: John Montgomery

What you're doing is a great way to start. I've had an inlaw unit that I rent out and have learned so much about owning a rental and most importantly finding the right tenants. I think having your rental next door does a bit of the "weeding out" for you but still, you get a chance to see all the different types of people that come through trying to rent from you. Bigger Pockets has so much good info on everything, including finding good tenants. My advice would be to read about that thoroughly before you select a tenant, and then keep reading and talking to other members about all the other ways to invest in real estate before you decide to take the next step. I also did a flip a few years back and that was very rewarding, but it is also very challenging. The most important thing is finding the right deal and analyzing the project properly. Knowledge is key. You can find it here!

Large is kinda  vague. It means different things to different people. What if we break it down into a few different lumps and then advise on each one. What would be the best strategies for these different amounts: 100k, 500k, 1 million? I'm not sure myself, but it's hard to consider any advice without a point of reference.