They hardly ask me about how to find great tenants. In fact, they hardly mention tenants at all. It seems as though finding a great tenant is a given. It’s not.
Let me state the somewhat obvious here: A rental property does not become an income-generating asset until it generates you an income. Income is generated by a tenant paying the rent. Or to put it another way, a rental property is a debt–not an asset–until the tenancy begins.
Finding a closing deals is great but before you buy a property, make sure that there is tenant demand for it. And once you buy one, find that great tenant ASAP.