You Bought Your First Rental... Now What? (The First 90 Days)

🤖 Access my FREE Guide to Finding Hidden Deals → https://bit.ly/4v4ERHM 💥 Access Our Free Resources → https://www.moneymakinmamas.com/link-in-bio-page 🐺 Book a Private Call to Discuss Partnering With Me at eXp → https://calendly.com/moneymakinmamas/calendar The Transition Strategy: One Paycheck to Two Strategy: https://bit.ly/4w5jPcF Contact Nancy Wallace Laabs Money Makin Mamas [email protected] www.moneymakinmamas.com Most people think closing on the property is the finish line. In reality, it’s just the beginning. In this video, Nancy Wallace-Laabs breaks down the essential "Next Steps" to protect your cash flow and secure your asset immediately after purchase. Whether you are a brand new investor or looking to tighten up your systems, these 5 pillars of post-closing management will ensure your first rental is a success—not a stressful side hustle. 💡 In This Episode: Nancy Breaks Down:  The "Safety First" Protocol: Why you must rekey immediately, regardless of what the seller tells you.  The Paper Trail Power: How to organize your surveys, contracts, and HOAs so you are ready for a refinance in 2 years.  The Rent Collection Trap: Why Zelle and ACH win over cash and personal checks.  Late Fee Logic: Why consistency matters more than the dollar amount when you’re standing in front of an eviction judge. The Professional Boundary: How to protect your 2:00 AM sleep by setting clear maintenance request rules.  Accounting for the CPA: Why a simple P&L is better than a complex CRM for your first 5 properties.  The Wealth Shift: How to track mortgage pay-down and appreciation to fuel your next deal. Follow Money Makin Mamas YouTube https://www.youtube.com/@moneymakinmamas?sub_confirmation=1 Instagram https://www.instagram.com/money_makinmamas/ Facebook https://www.facebook.com/profile.php?id=61554260335637 LinkedIn https://www.linkedin.com/in/nancywallacelaabs/ 📑 Timestamps 00:00 — Why getting the property is the "easy" part 01:50 — The 3 Immediate Steps: Rekeying, Utilities, and City Inspections 03:42 — How to set up your Banking & LLC (Don't co-mingle funds!) 05:00 — The "One Folder" Rule: Organizing your deal documents 07:15 — Why you should NEVER accept credit card payments for rent 09:40 — Setting boundaries: Professional client vs. "Friend" 11:55 — The "Water Leak" Warning: How small drips turn into major losses 13:40 — Equity Tracking: How to prepare for property #2 About: Nancy Wallace-Laabs is a licensed real estate broker investor and national speaker with over twenty years of experience and ten years in property management. She is the co-founder of Money Makin Mamas where she helps professional women transition from paycheck dependency into single family real estate investing through structured decision making and practical application. Kelcie Leka is the co-founder of MoneyMakin Mamas represents the real life transition the brand is built around. After leaving a high stress corporate sales leadership role, she began building a real estate portfolio using the same single family framework taught inside Money Makin Mamas, bringing a practical, relatable perspective for women balancing career, family, and investing.