I'm oresto and I'm Judy if you are a realtor if you are a current landlord if you are an aspiring landlord yes this episode is for you aspiring that was a word I've been trying to look for this entire time and hopefully they tune in because there's major benefits to listening we bought three properties boom boom boom we found this property through a friend of ours that was selling off-market properties you got to be able to find your property a lot of times you get caught up in trying to find the perfect deal and one of the things we learned is like just get in there I have a secret I have a secret there's no such thing as a perfect deal there's such but there is such thing as a perfect wife ask your local Realtors um get on Facebook pages and get out there yeah start being with the people who are finding houses seeing houses buying houses also find them before they're sold property acquisition and the different things you need to be aware of when you go to purchase your first property just a couple of points that I wouldn't want anyone to miss out on initial costs make sure you know how much money you're going to bring to the table to close what's it going to cost to close how much is my title going to be what am I going to pay for taxes closing cost closing cost yeah is there anything that I would have to repair before a resident moves in just those straight upfront costs before you ever even get at leased the second thing that I would highly recommend legal requirements can you have a rental here is it in an HOA that already has a maximum number of rent rals you know what's going on with the city do you have to register with the city how do you pay your taxes where do you go to pay your taxes where do you go to pay your taxes one of our clients purchased a property that actually was in an area where they paid both the city directly and the school directly and the county directly for property taxes like how weird but the only place that we could go to see that that's how it was done was on the closing documents wow make sure you know the legalities of what's going on the third one is insurance insurance make sure that you have the right kind of insurance for your home it's not just homeowners you need to make sure you have some extra coverage as a landlord the proper coverage the proper coverage right extra doesn't mean more just make sure it's right yeah and take this video sort of like a checklist you're not going to get all the answers obviously there may be other videos that you can reference but we just want to give you sort of a checklist to kind of help you mentally prepare [Music]