All over the internet, there’s tons of great advice on all aspects of real estate, but relatively few places that walk you through the ups and downs of a deal from start to finish. I decided to write about one of my rental property purchases from beginning to end, pulling no punches and sharing the good and bad things that happened along the way.
I’m an out of state landlord, so this series was written from that perspective. Most of the process could easily be applied to local investors. Join me as I try to demystify the real estate investment experience!
Rental Property Tales – The Series
Part I – How I decided on the perfect market to buy my next rental property. What factors influenced me to pick this market? Are factors like unemployment, demographic trends, and population change relevant?
Part II – I assembled a crack team of local professionals. From my realtor to my contractors, I explain how I found and hired each member of my team.
Part III – Now that I had a team, I needed to find a great property. I share my analysis process and how I decided one specific duplex was worth pursuing.
Part IV – I make an offer on my midwestern duplex, and conduct some revealing inspections. Is the property all it seemed at first? Is the existing tenant a problem?
Part V – Before we could close on the property, I needed to secure financing, arrange insurance, and get all of my contractors on-board so that we could begin the rehab process.
Part VI – After an eviction, two rehabs, and a rodent infestation, my new rental property comes online. Was it a huge success or a dismal failure?