All Forum Posts by: Justin Springborn

As the title suggests .. I am about to close on my 1st rental property (a duplex that I will be house hacking).

I am inheriting 2 tenants, both of which have leases that will be expiring at the end of April.

I have 2 immediate questions:

1.) For the final month's rent for each tenant, am I crazy to want to try and collect a cashiers check / zelle payment / venmo request, or does this need to be more "professional"?

2.) For future rent collections on my own leases, what is the "best" way for me to collect rent as a beginner, and as someone who wants to minimize expenses as much as possible?

Bonus Question:

For  someone that is only managing 1 tenant .. is property management software a necessity, or just a "nice to have". Again, would love to minimize expenses as much as possible, but do not want to cut corners in the areas that matter.

Thanks for all the help!

Emily - Fellow rookie interested in small multi-family properties. Wouldn't mind collaborating and sharing ideas together as we work towards closing our first deals. Ping me if it makes sense for you, otherwise, best of luck to you and your family!

Evan - I am at the same point in my career/journey, and moving to the DFW area in September.

Would love to go to a few meetups with you and work collaboratively on building a strong network, learning the market, and preparing to investment in a first property. 

 Bruce - Appreciate the response and the offer, check the DM's!

 Hey River, I'd love to get connected and learn about some local meetups. Just sent over a connection request!

 Chris - Love it! Excited to connect and learn from you. Check the DM's!

Howdy!

My name is Justin Springborn, a young buck new to real estate and the Dallas Fort Worth area, looking to purchase my first investment property within the next 6-8 months. My goal is to purchase a small multi-family property with an FHA loan that I can self-manage while retaining my day job as a software engineer.

I have been causally reading books, listening to podcasts, and self-educating on personal finance and different asset classes for the last 2 years before finally deciding on real estate; but I still feel like I do not know enough to go at it alone. I would absolutely LOVE to connect with experienced real estate investors/professionals who wouldn't mind helping a young 20-something get into the game and navigate all the landmines that I do not even know exist.

Excited to be part of the community,

Justin