I've been a landlord since 2010. My first rental was my personal home that I ended up keeping so I could move closer to Downtown Austin. When I had my daughter, we purchased another rental so that could be her college fund. Being a landlord in a city I live in has not been overly time consuming. I'm a realtor and my husband is in commercial real estate and construction so we have a rolodex of contacts that do help us manage issues as they arise. THe biggest hiccup is vacancy and turning it over. We've been strategic that rentals we own have leased relatively quickly. We recently closed on our 3rd rental on 12/31, and this time we are doing renovations to improve it and make it more attractive. My advice for those entering this space, it's not that hard to self manage, however you need to be patient, strategic on where and what type of rental you are looking to add to your portfolio. I personally like single story homes as I think it's a wider pool of tenants that find them attractive. Small updates go a long way with tenants.. With this most recent rental, we have included our girls to be apart of the process so we can teach them the importance of financial health and have them understand why we make these decisions. I have tons of fun pictures to include., you can email me: cynthia.mattiza@KuperSir.com and i can elaborate more or send over. @cynthiamattizarealtor, or you can connect with me via linkedin https://www.linkedin.com/in/cynthia-mattiza-34224413/
Photos you can use: https://drive.google.com/drive/folders/1Q32Vyu7yWsz0v7iJ6JSvTmDtU6cOL0wQ?usp=sharing My name is Trevor Rice I own a company called Home Pros at www.selltohomepros.com (would love a backlink!) we are a "we buy houses" company. We essentially buy distressed houses and either wholesale them off to investors or buy them myself. I bought my first rental 2022. I bought it intentionally as a rental property, but initially I was under contract for 65,000 to try and sell it off as a wholesale property for 75,000 to make a $10,000 assignment fee from a end buyer. Well I was cranking the numbers and it needed maybe $4000 worth of work including a appliance set, and some doors and a broken window. Basically turnkey ready to rent! It was worth about 195,000 once the property was fixed up. We call that 195,000 number a ARV (after repair value) that a appraiser would appraise it at. Well one of my lender collogues that brought me investors told me "why don't you just buy it, hell ill give you the 69,000 for the purchase and rehab" and I was shocked and I did research. The property would rent for $1500 a month, and a bank can cash out refinance and pay off my collogue and I can get in a long term loan. I cash out refinanced it for 95,000, paid the $69,000 back to my colleague, put $20,000 in my pocket tax free after closing costs. It was appraised at 195000 and so I walked into equity and I am cash flowing $400 a month on a 4.5% rate. I did 27 other units in 11 months and got addicted! What surprised me on this whole process was once you do one it snowballs and money gets easier to get and buying power gets easier. And I realized the money is not in the cashflow but in the cash out refinances. Because its tax free money! My best advice tips for others is have reserves, its not all sunshine and rainbows, you need to have money in savings. Also, remember. People lie, no matter if its property managers, tenants, bankers. You need to do due diligence no matter what anyone says, do not take anyone's due diligence as your own. Pay the extra money for licensed, good contractors you will save mountains of headaches and lost sleep. Lastly, for taxes and insurance get a umbrella policy and challenge your taxes and do cost segregation studies! This will save your but from paying uncle sam.
I rented out my most recent rental property in 2021 during the thick of the COVID Pandemic. It's a two-(2) unit residential property in South Jersey. This was an intentional purchase, as I wanted both passive income and the benefit of rapid appreciation taking place in the market. This would be a long-term hold, which I anticipated replicating through a cash-out refinance. While I had owned rental property previously, returning to the market in 2021 was a reminder of how hands-on the landlord role can be. One surprise was how much tenants look to you for guidance and decision-making, particularly around expectations, boundaries, and communication. I've learned that some tenants require more hand holding than others so, consistency early on really matters. Tenants will often test you to see what they can get away with. So, while it's OK to be friendly, it's super important in the beginning to set the tone, establish clear expectations and maintain professional boundaries. My advice to anyone who is thinking of becoming a landlord is to establish good processes and put everything in writing. And, don't skip the tenant screening and background checks. At a minimum, this due diligence will give you some peace of mind and legal protections. Good decision-making at the beginning and enforcing the provisions of your lease is the best way to ensure a stable, well-functioning rental relationship. As a landlord, I get the best of both worlds. I get to provide a home for someone while also benefiting from a long-term investment. I currently own two properties in the Northeast: my primary residence and the two-(2) unit rental. Submitted by Jacqueline Mitchell, Founder & Creative Director @ Four Square Staging email: foursquarestaging@gmail.com NOTE: Photo of property and a selfie is available and can be sent separately with your email address. I did not see a file upload button prior to clicking "Submit".
I became a landlord in 2022 when I inherited my grandmother's home in a transitioning neighborhood--instead of selling immediately, I decided to rent it out while the area was still appreciating. Now I own three properties across North Carolina, and the biggest shock was discovering how much tenant screening matters; my corporate credit analysis background helped me spot red flags others miss, but I still learned the hard way when my first tenant had pristine credit but turned out to be incredibly destructive. My advice is to trust your gut during walkthrough meetings and always verify employment directly with employers--a polished application doesn't tell the whole story about someone's character.
I jumped into being a landlord in 2021 by taking on the management of several mobile homes my company acquired, intentionally creating affordable housing options in overlooked markets. Today, we manage numerous renovated manufactured homes across South Mississippi and the Gulf Coast. What surprised me most was how much joy I found in providing quality, safe homes for families who often struggle to find them; seeing the relief on their faces is incredibly rewarding. My advice is to approach landlording with a solution-oriented mindset, always looking for win-win scenarios that benefit both you and your tenants--it builds strong communities and sustainable businesses.
My journey into the rental market began in late 2022. Rather than an intentional investment purchase, I became a landlord by converting my primary residence. After relocating, I recognised the strong demand and opted to leverage the property's equity and rental potential instead of selling, allowing me to retain an asset and generate income. Currently, I own one rental property in a vibrant suburban market just outside London, UK. This area benefits from excellent transport links and a growing professional population. I am ready to provide high-quality photos of the property and a professional headshot for your feature. Surprises and Advice for Aspiring Landlords What truly surprised me wasn't just the financial aspect, but the profound human element involved. Managing tenant expectations and navigating maintenance taught me that being a landlord extends beyond collecting rent; it's about fostering a respectful, professional relationship. The initial perception of "passive income" quickly gave way to an appreciation for active management and communication. For others considering the rental market, my most critical advice is twofold: Thorough Tenant Screening is Paramount: Invest significant time in background checks, references, and interviews. A good tenant relationship is the foundation of a successful rental. Master Local Regulations: Understand your local landlord-tenant laws. From deposit protection to eviction processes, compliance is non-negotiable and protects both parties. I'm eager to elaborate further on my experiences and contribute to The Playbook.