Quote:
Originally Posted by floridaorange
We bought an investment single family home in a hot sub market and live nearby so I'm gonna be doing some of the property maintenance and landlord. In about 2 yrs we plan to demo it and build a custom home with pool etc. Its a really cool property in that you can access it from front street and rear.
Anyway to the point - what non-obvious advice might you have for a first time lessor?
I've owned 2 homes and had my RE license in California and did commercial real estate investment work for a handful of yrs a while back, I'm 39 married with 2 kids 1 is a baby  so I'm hoping this doesn't spread my time too thin. |
100% agree with Grumpy on this. The biggest problem is getting solid tenants in the dwelling. Many people are not who you expect them to be upon first glance. Don't just rely on credit score, either. Really look at their job history, job time, debt to income ratio's, where they are in life, et al.
Where in Orlando is the home? I was born and raised there and have some insight as to that market - and can also give you some pointers on tenants based on where the house is located.