Managing a Rental Property for the First Time
๐ Back with another video behind the wheel. This time, I'm answering one of your questions. If you have any questions you'd like me to answer while I'm driving, please drop them below! So, have you ever been in a $200,000 SUV? Today, I'm in my Cayenne Turbo S, which was the fastest, most powerful, and luxurious SUV you could buy in 2014. Thankfully, I didn't pay anywhere near that much for it! But let's get to your question. VT 247 Vacation Time 24/7 asked about overcoming the fear of making a large purchase like rental property and finding good property managers, tenants, and looking out for owners. To answer your question, the way I bought my first rental property was by using profits from a stock investment for a substantial down payment. Renting it out and managing it, I decided to hire a property manager since I was hours away from the property. Here's how I found a good property manager: Ask Around : I joined a Facebook group with real estate professi...