How to become a landlord

July 19, 2018

If you ever asked yourself how to become a landlord, you are in the right place! Investing in real estate,
and trying to profit out of it is a great idea, and if you have a chance to do it – you shouldn’t hesitate.
Many people are planning or already renting or leasing their property, and if you ask them for their
opinion – you should too.

Why is investing in real estate such a good idea?
As you can see, this has become a trend. More and more individuals are doing it and for a good reason.
Investing in stock is in the past. At least, for those who aren’t well experienced in this field. Investing in
real estate comes with much fewer risks. Also, it doesn’t require so much experience or knowledge. If
you have it – good. But if you don’t – you will learn everything that you need to know somewhere
down the road. And all that – without having to risk large sums of cash. Why? Well, investing in the real
estate doesn’t require betting on your money. Every penny you spend will be there – one way or the
another. You will always have that property, ready to sell or rent at any point.
You want to become a landlord, but don’t know how – don’t worry
Becoming a landlord isn’t as hard as it seems. It is actually the easiest part. But, you will need to start
somewhere. The first thing you should do is to obtain a property. How to choose? Are you in the right
market? How much money will you get out of it? Becoming a landlord, or planning to become one raises
many questions. Don’t worry – we are here to answer them.

How to become a landlord – step by step guide
You should get well informed before you make any final decisions. Knowing what you are doing, or
planning on doing is really half a job. So, let’s start.
? Explore the market.
? Find a reliable real estate agent.
? Calculate how much it will cost you to remodel/redecorate it. Secure the investment money.
? Find a property that you are interested in.
? Inspect the property before buying it. Negotiate the price. Sign the papers.
? Make a few changes in order to lend your property at a higher price.
? Transfer the new furniture to your property.
? And, in the end, become a landlord!

Explore the market
It doesn’t matter if you already own a property or not – you need to explore the market. You should
know how much money you can get out of it. Once you get all the information, things will get much
simpler. When you get the clear picture, you will know what exactly needs to be done in order to get
more cash.
Find a reliable real estate agent
That’s right. If you want to become a landlord and do things the right way – you will need to find
yourself a reliable real estate agent. And no, it’s not as expensive as it sounds. This person will provide
you with all the help you need. So, don’t hesitate – and find the right partner. Having an ally by your
side at all times is exactly what you need.

Secure the investment money
In order to become a landlord, you will have to obtain a property that you will later rent. Your next step
is calculating your budget and planning your finances. How much are you willing to spend? And even
more importantly – how much are you able to spend? Schedule a meeting with your bank’s agent, and
get to know your next steps. There are many options, and you should find the one that fits you the best.

On the other hand, if you already have a property ready to lease, think about your options. Should you
invest some more in it? How much is it going to cost? Do you need to secure the investment money in
order to make these few final changes?

Find a property
Your real estate agent can help you with this step. All you have to do is to make a list of things you
want in your new apartment, house or condo. And of course, a list of things you wouldn’t want in
your property. The rest is your real estate agent’s job. He or she will search the market, and once they
find something that might interest you-you will be informed.

Buying a property
Once your agent finds you a property that satisfies all your criteria, it’s time to inspect it. This step is
very important. Look for things that need to be fixed, things that are damaged or if something that’s
included in the deal is missing. And if you find something that just isn’t right lower your offer, or start
looking for another property. Negotiate the price – don’t insult the property owner, but don’t offer too
much either. Try to find a balance. And once you make a deal – sign the papers.

Make a few changes
Investing in small changes will help you a lot. How? Making a change here and there can make your
property much better looking – and more expensive. So why not? Think about remodeling or
redecorating your new space – and get the most money out of it.

Transfer the new furniture
A fully furnished space will get you more money. Most people are looking for such apartments/houses.
Why? Moving furniture from one house to another is a hassle. And when people are renting a place –
why not a fully furnished one?

Where to get new furniture? Well, it depends on how much you are willing on spending. If you are
planning on obtaining it from another country, consider hiring professional movers who can transport it
in a safe manner -

Become a landlord
Once you finish all the other tasks, and your property is ready – all you need to do is to find yourself
some tenants. Decide on the price, and spread the word out. You and your real estate agent should be a
best friend by now, and he or she will guide you to the end of this process. So rely on them! You can
even offer some additional services to your tenants, such as weekly cleaning or gardening services. And,

your tenants will need a moving expert that can help them move in. As a decent landlord, you should
recommend them a reliable moving company. Moving professionals from Orange Movers Miami will do
everything quickly, safely and at an affordable price. Therefore, if you recommend them to your
tenants, you won’t regret it.

Emily Love


Buying advice