6 important lessons I learned in my first year as a landlord - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Ireland News News

'6 things I learned in my first year as a landlord that any new real estate investor should know'

But before you start envisioning yourself as a future real estate mogul, know that there's a lot to learn and that you are probably going to learn it the hard way. Like I did.

Lesson: Do your own homework, ask lots of questions, and don't let impatience get the better of you. A good, thoughtful inspection will save you a ton of time and money in the long run. This isn't always possible, of course, but a former owner is a great source of information on your property.

When the basement in our rental property flooded, we immediately called the general contractor who had done other work for us and he came instantly and made plans to install a sump pump. And that same contractor introduced us to a plumber who would come to our rescue when our pipes froze. The best sources of contractor recommendations are the previous owner and friends and neighbors. But I've also received great advice on local Facebook groups and at local hardware stores.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines