Dream Team – Post-Closing

You will want a Photographer to take professional photos of the property while it is vacant before you move in if this is a Nomad property or before a tenant moves in if this is a partnership purchase or a non-owner-occupant purchase.

We recommend that you have photos taken right after you close before you move in in almost all cases. You will use these photos when you're marketing the property to rent.

Ask your Real Estate Broker for a recommendation.

Mark this task as complete once you've decided which Photographer you will use to take photographs of the property after you close.

If you're going to have your Lease (or any other paperwork you might sign) reviewed by an Attorney before you use it, you may want to determine who that attorney will be.

This attorney will also probably review your Contract to Buy and Sell Real Estate.

Ask your Real Estate Broker for a recommendation.

Mark this task as complete once you've decided which Contract and Paperwork Attorney you will use to help review your legal documents or if you're qualified to review them yourself.

Once you've read through the Lease and highlighted sections you have questions about, take your questions and meet with your Contract and Paperwork Attorney and go over your questions about the Lease.

Mark this task as complete once you feel comfortable with the Lease.

Decide which Plumber you will use to do a should you have plumbing issues with your property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Plumber to use.

Decide which Flooring Company you will use to do carpet or other flooring on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Flooring Company to use.

Decide which Handyman you will use to do a should you have general maintenance issues with your property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Handyman to use.

Decide which Painter you will use to do painting on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Painter to use.

Decide which Roofing Company you will use to do roof related work on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Roofing Company to use.

Decide which HVAC Company you will use to do a heating and air conditioning work on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a HVAC Company to use.

Decide which Electrician you will use to do electrical work on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on an Electrician to use.

Determine who you will use to run credit and background checks on your tenants and tenant-buyers.

Mark this task as done when you determine who you'll use.

If you have not already done so, determine who you will use to run credit and background checks on your Tenants and Tenant-Buyers.

Mark this task as done when you determine who you'll use.

Take some time to research the landlord-tenant laws for your city, county, and your state.

Mark this task as done when complete.

Make sure you feel comfortable with the cash reserves you have for your rental property.

Most CPAs will recommend you have between 6 months and 12 months of your mortgage payment, taxes, insurance and maintenance reserves for your property.

If you do not have this amount saved for your property, make it a goal to work on building up your account to have that for each rental property you have.

Mark this task as done when complete.

Find your local landlord group and attend meetings to stay abreast of the rental market and network with other landlords.

Mark this task as done when complete.