From the course: Rental Properties 101
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Purchasing properties with tenants already in place
From the course: Rental Properties 101
Purchasing properties with tenants already in place
- [Instructor] A good option is purchasing properties that already have tenants in place with a reasonable lease agreement and a good rental history. Remember to do your due diligence to review that lease agreement and rental history. This provides positive cash flow from the start after you become the new owner. Then find an experienced management company to handle your tenants. Using a property management company is the biggest step towards truly passive rental income, and you will discover that they specialize in the most time-consuming and least attractive part of your buy-and-hold strategy. They have relationships with all the skilled professionals needed in case of repairs or emergencies. You will definitely want the services of a property management company for your remote rentals or your properties that are located in other areas or markets. Work with companies that specialize in turnkey rental properties. I…
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