@Account Closed
Hi Nicole,
I'm new to Bigger pockets and to Real Estate, although I did own a two-unit in the past. It was a nightmare. Although I'll be rehashing a lot of what Mike Hanneman said above, sometimes that repetition has value of its own.
You sound like a humble person, but I caution you against portraying yourself as a rookie to your tenants. Even if they know this, it doesn't mean you don't know what you are doing. My previous tenants passed background and credit checks, once they knew I was a newbie, they tried they're hardest to take advantge of that. Be careful about being too friendly too. Keep the relationship nice but professional. This can be very difficult at first, but its important because your tenant asking you if something is possible as opposed to holding it over your head or they're going to leave/stop paying rent etc. will largely be determined on their perception of you and what they can get away with. Regardless of what you've portrayed yourself as in the past they've only been there for 6 months, so you can start your new attitude today. I'm also a Biblical man and I strongly believe that doing things out of fear will lead you down the wrong path every time. And, don't feel sorry for yourself. Ever. You have a great challenge in front of you but even more than that, you have a fantastic opportunity.
Calmly assess the situation. What are your options if things go badly? Start looking for a good eviction lawyer now so that if the scenario presents itself you won't be playing catch up. If you haven't already, look into the regulations in your area regarding tenant rights, Landlord expectations ie. what to do with security deposit, and make sure all your bases are covered. Then when something goes wrong you'll be prepared, and feeling prepared takes a lot of fear out of it.
Besides, you found these tenants, I'm sure you can find more if you need to! ;)
