[1 of 7] Rental Property Management 101: Just Bought a Duplex – How to Avoid 2 months ago   08:25

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Rent Like A Pro
This video will give you a thorough understanding of rental property management and all of the necessary basic fundamentals you must know before you get started.

The Rent Like a Pro Team has over 20 years' experience in residential property management. They teach at various apartment associations and landlord organizations. They have managed thousands of properties from large, multi-family complexes to single family homes. Their online video training program has helped many landlords and property managers increase their income and improve their management systems.

Rent Like a Pro is a team of professional property managers collaborating to develop a site that gives landlords access to the tools and techniques the pros use. This site is a source of the most up-to-date property management and landlord techniques for building residual income through real estate investing.

For more techniques and information, go to http://www.rentlikeapro.com/free-training/

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Comments 113 Comments

Kevin Mac
Have a valid question. Newbie over here in philly. Just started property management school? I’ve been a plumber both residential and commercial for almost 30 years. I need to ask how did you get the cash/ investors to fund the first property? Because that’s the burning question. Where do I find those who want to invest in the real estate and make em commit?
Akoms Ayor
Am a manager in a property management company, can someone help me ? I need free online certificate courses on real estate. I need free online courses that awards certificate thank you
Jess Hoffman
I live internationally. We are trying to buy my husbands house. We want to rent out all of the 5 bedrooms to students instead of a single family. We don’t want to necessarily have the bills in our name since we are so far away and will have a friend manage. What is the best way to do this?
Jeff Hooper
Been processing for about a year about doing property management. Reading blogs, watching countless videos, etc, etc, etc. Here is my question..Is it worth it? :) Have had the interest from some time, but wondering if it is a good career move. Thanks
Bill Welch
Who do you use for your Work Comp insurance? We're having a hard time finding an affordable company that wants to insure property management companies. Part of our problem is our subs. We have some subs that are one man operations and they have exempted themselves from work comp coverage (which is legal and most one man sole proprietors around these parts do that). Previously, we were able to have these small companies sign affidavits exempting themselves and indemnifying our WC carrier, but seems like that's getting harder to do. These small guys are carrying Liab Ins but don't want to, or can't afford the WC coverage. Can't say that I blame them when they have no employees. Any suggestions? Thanks a bunch for any advice!
Moon Freedom
Too much time to watch multiple videos and I don't care about your personal life.
Aameer Khan
Check out https://ai-tube.com/videoai/IqNwSh-Ewvf for your property management needs in India or visit us at https://www.elev8.in
Glenda Lumpkin
Can you increase the deposit amount when you send the renewal documents?
Ernest Judge
#1 question... Do you guys still own that first quad you invested in? Or did you sell it along the way?
I ask because I'm in the process of closing on my first duplex... and my thought process and experiences are much the same currently with being in college and working, with my first born, so after being an agent for a year I decided to build in the investor side...
Ian Smith
Is there a book/books you would recommend to learn more about Property Management?
Ray Smith
if I buy or when I buy a duplex and how much is going to cost me for property management to handle my renters
Randall Jackson
Was married to a managing broker that did property management as well. Did my share of repairs, hiring & firing of contractors, did inspections, served eviction notices and so on....We did what we thought made sense at the time and overall, we did OK. Your videos are awesome! and I wish that I had seen them before we started managing properties. Now that we're divorced, I've started buying rentals and I don't want to manage them my self, because my real job requires me to travel for months at a time. Also when I'm home from work, I don't want to be managing properties.

Started an LLC and Bought a 3-plex in January, that was fully rented upon the closing date and have since hired the listing agent as my property manager, plus one of the tenants is my property manager's assistant. Why did I hire her? Because there isn't anyone else in the area that will do the job and her office is less than a mile from the units. My burning question for the day 1 video is: With today's technology, do you think I'm throwing my money away by using a property manager? Thanks for what you do.
Kyle VA
Grate video's, iv been tryin to watch at work but i can barely hear you.
SameChickDifferentDay
Thanks for the info! 👍🏼
razorcliff hudge
the volume is too low.
oooka real_estate1984
Let prospective tenants know where you’re located, how they can reach you, and when you’re holding any open houses or tours.
Also be sure to tell them where they can go to apply for the rental, as well as what sort of screening and background checks you’ll be running.
Doing so will help filter out anyone who wants to avoid a screening, which is a good indicator that they’re not the best fit, anyway.
Michael Brown
In one of your videos you talk about how you lowered the monthly rent on a property, but then added a "utility fee" of $65 which actually brought the total monthly commitment to more than the pre-lowered rent amount. How do you present that both in a lease and explain to tenants so they don't push back against it? Genius by the way, thank you for sharing this tip!
Erwin Oliva
Hey Clint and Chad,

Thank you so much for telling us your story of how you got started. Very inspiring. Looking forward to following you guys.
allan oteyza
how do I sign up!!
David Sanchez
Hi Chad & Clint,

Great video!

Couple Q's:

What advice or guidance in today's economy can you provide to an active 1st time residential (multi-family) property investor?

2) If you could start over, knowing what you know today, what type of property would be your go-to investment and why?

Thanks so much,
David
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Just Bought a Duplex – How to Avoid [1 of 7] Rental Property Management 101: 2 months ago   06:46

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Today’s question comes from Diego from Florida. He just purchased a duplex and is in the process of renovating the units. He purchased it for $140,000 and plans on investing $61,000 to renovate the property. He wants to use the appreciation from this project to purchase a multi-family in 12-18 months. He wants to know if Matt has any pointers for him and potential pitfalls he could face with his plan. Thanks Diego for submitting a question!

Learn in depth strategies by grabbing my New Book "Raising Private Capital" Available now on Amazon
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As always, please email us any real estate questions to HelpMe@DeRosaGroup.com and we will answer them on an upcoming episode!

Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/
Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast.

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