Hi all!
I recently found this site and decided to join. I am an accidental real estate investor who wants to become a professional real estate investor.
I inherited a duplex when I was about 12 or 13 and rented it to a family member for a long time. That gave me a small side income, but not much experience. Later, I rented it again. When those tenants left, the property was a mess. I recently fixed it up and rented it under section 8.
In addition, I have inherited about 6 properties recently (thanks grandpa!) and they are rented under section 8.
Having had all this fall on me, I am know learning about being a landlord and about investing in new properties.
From what I have learned so far, my goals are to:
(1) Setup a robust property management system/process to manage my current properties;
(2) Learn about analyzing investment opportunities on properties I have seen or believe have potential. I want cash-flowing properties and I like the section 8 program. I am currently not interested in negative cash-flow hoping for equity gain.
(3) Learn about the best ways to invest with a partner (i.e., LLCs, Partnership agreement, whatever). I have a great friend with an engineering/construction background who wants to start investing too.
As to my background, I am a lawyer. My practice is criminal defense, but anticipating problems I am learning about landlord/tenant law and evictions.
Any help is appreciated!
