It's easy to get discouraged as a newbie in real estate (overnight success doesn't exist and having patience and doing the actions steps needed on a consistent basis is key...)Hearing other passionate real estate investors is really refreshing and inspiring.Good luck to all of us!

It could be interesting to get a new investor on the podcast to ask a ton of questions. It could help a lot of other new investors, but it might also help seasoned investors communicate to those they are trying to hel...

I just closed and was given a check in the amount of both tenants deposits.Right away you want to call and transfer any utilities that the previous owner was paying, as well as call and set up a time to introduce yourself to them, as well as lay out clear guidelines and expectations as to what to expect with you as the new owner, ie. where and when to send payment, contact info and info on what to do if there are any issues that need to be addressed.I just closed on a new duplex and acquired tenants, i called right away and started service for water and garbage for the tenants, as well as met with them in person, I showed up with a copy of their current lease agreement for them to have as a refresher, a basic rental application for them to fill out to make sure i had the most current information about employment, tenants, contact info, as well as had them make a list of concerns and things that need repair. 

I've been looking at a lot of properties online and one of 2 things usually happens: either the seller over estimates the property (overstates price and rental rates around the area), or it's a 3rd party/wholeseller who I have to refresh their memory about the property.

Even the pool was a refreshing 90 degrees.Did my first investment with Dad when I moved to NYC.

A kitchen refresh here or there but my FIL just remodeled my mother's entire kitchen and can easily do and has done plumbing, electrical, roofing, general carpentry, etc.

Hopefully that will refresh your memory.Throughout the United States, operating expenses run 45% to 50% of the gross rents.

Hi Das Siva A great post that is a must-read for all newbies and a refresher for those of us that have been here for a while.

I'm just typing here to give myself a refresher.

Thats refreshing!