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I've been working with rental properties since I was a youth.
I have my own rental property now in Las Vegas and I live in NYC.
I hope to purchase another rental property later this year.
My Las Vegas property is brand new when I purchased it. I looked in the paper and also found a real property manager. They manage my property for 10% of the rental amount. They are responsible for getting tenants and evicting them if needed.
When prospecting for the property, I looked at location to airport and strip (which is where a majority of the jobs are located) I also wanted to allow for equity gain, I found a property in an area that was being built up. I did not need a lawyer to complete this transaction but when I do a NY property I will. For the NY property, I am looking for something structurely sound where the only issues are cosmetic where some blinds, paint, and carpet will make it look nice. I don't want to have to buy a new boiler the frist 5 years I own the place.
I just go to the mail box and collect a check from them every month.
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I don't care if you are black, white, purple, green, Chinese, Japanese, Korean, hippie, cop, bum, admin, user, English, Irish, French, Catholic, Protestant, Jewish, Buddhist, Muslim, indian, cowboy, tall, short, fat, skinny, emo, punk, mod, rocker, straight, gay, lesbian, jock, nerd, geek, Democrat, Republican, Libertarian, Independent, driver, pedestrian, or bicyclist, either you're an asshole or you're not.
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