My parents have owned properties they rent since before I was born. They both told me that I could pursue any type of career I wanted. My grandmother wanted me to be a doctor, and my mother wanted me to be a veterinarian. I wanted to be a landlord and skip the expense of college. I told my parents to put the money they were saving for college for me into providing me with real estate to rent. My father told me that if I learned how to become a certified property manager, that he and my mother would start me out with one rental property.
The further stipulation was that I had to earn enough profit off of the property to finance a second unit that was similar. I started out with a small two-bedroom residential property that I was able to rent for a higher rate to a retired couple that really liked the neighborhood. I really did great with my first tenants, and that was a real boost to being able to earn the equity I needed for affording the second property. I learned a lot by taking classes on how to become a certified property manager. It helped me pick better tenants and how to make better decisions as a landlord.
My father told me that he was very happy with my progress and how I could make informed decisions. He told me a lot about the mistakes he and Mom made when they first got started as landlords and how much money they lost. He said that was why he wanted me to go through the educational process in learning how to become a certified property manager and how it would help me learn the laws and the how-tos of being a better landlord and real estate owner.