While the fix and flip strategy attract a lot of attention on TV shows due to the dramatic visual results and lump-sum profits it generates, buy-and-hold projects can be just as profitable in the long run and are a great option for those looking to build income-producing assets... but is the workload of managing the property too intimidating to get started?When it comes to buy-and-hold investment, the two most crucial aspects to consider are getting the money correct so you don't tie up all of your assets and making sure property management isn't too difficult for you.
Every action came with its own set of papers, from leasing to a new tenant to assigning maintenance duties and collecting money.
Instead, both the landlord and the renter may do all of this through electronic document transfers and signatures.
Dropbox is a well-known service for storing many sorts of data, whereas HelloSign is a web-based business that specializes in contracts and leases electronic signatures.
Spend some time researching which service best fits your requirements.Online Payment ProcessingWhen given the choice, most renters will probably choose to pay their rent online rather than writing out a check and bringing it to a physical office.
Many software solutions make it simple to take online payments and provide a slew of additional features that make life easier for both tenants and landlords.Tenants can easily view their payment history, and inconsistencies will be easier to rectify when cash and paper checks are no longer used.