Rental Property

[Lilsuge12]

I live in Muscle Shoals,AL.I need someone to tell me the step process I need to take on starting a Rental Property business. I will be building and renting the houses.I have passed my Home Builders test and am going to be representing myself as a "Individual".

 

[latigo]

I live in Muscle Shoals,AL.I need someone to tell me the step process I need to take on starting a Rental Property business. I will be building and renting the houses.I have passed my Home Builders test and am going to be representing myself as a "Individual".

Step one. Build the houses.

Step two: Rent the houses.

 

[John Se]

get your license
get your insurance
get your lots
get your plans
file for permits
wait
change drawings as requested
re submit
get various permit approvals for various local state or county governments
pay for permits
get loans
pay for house construction or materials
complete about 20 different inspections
get final inspection
get final C of O
get license to rent if required.
get more inspections perhaps
get tenants
execute lease agreements
get rent and deposits

 

[FarmerJ]

Depending on local market conditions you may well be better off buying homes that are on the market or even foreclosures BUT before you do any of that you MUST look for a multi housing association, landlord group , landlord association in your state , join it, make use of any seminars they offer as well as all the materials they have available to members because if you have not had rental units before you may want o learn all you can first so you can try to avoid many of the mistakes many LLs do actually make and learn the hard way from.