All Forum Posts by: Michael Rogers

@Ronak Patel

I don't have experience with kiosks, but I do use storage software that allows tenants to rent online.  It also allows you to manage your storage units from your smart phone or anywhere you have an internet connection. We've used it for several years and have had good experience.

http://www.easystoragesolutions.net/

 It's in the first post by Josh Dorkin. T

Click on the blue link called REI Property Analyzer in Josh's first post.

 I couldn't agree more @Marcia Maynard. This landlord made a boneheaded unforced error in the game of real estate investing.  Landlords work so hard to build our portfolios, get good tenants, make sure everything we do is within the rules so we can build wealth through years of hard work.  Then to go and document such a boneheaded move on national TV so any attorney looking to make a case against a landlord can see is not smart.

The mother was a resident of the house and so was the child. They are still alive.  I'd assume they were paid up on there rent and there was no formal eviction process in place.  I'm not familiar with California law, but it is known to be tenant liberal. Allowing reporters and bystanders into the house (some taking items from the property for souvenirs), is not how I would handle things.

My guess is this landlord will live to regret making that decision.

How about this landlord, Doyle Miller, letting the media go through the San Bernardino terrorists house today?  This guy is just asking for a lawsuit.  He must not be a Bigger Pockets member or he'd know better.

How long til this guy gets sued?

http://mobile.nytimes.com/2015/12/05/us/landlord-l...

Here is a link to a video and article I posted about how to complete a 1099-misc. It talks about who you have to give a 1099 and shows an example of how to fill out the 1099 and 1096.

https://www.biggerpockets.com/blogs/111/blog_posts/46839-how-to-file-a-form-1099-misc-for-independent-contractors

Welcome fellow Noogan!  

I recommend you listen to the podcasts if you are looking to learn about real estate investing.  Bigger Pockets has some great podcasts that are full of great info and entertaining.  Here are a couple really good ones if you are looking at wholesaling or flipping.

Danny Johnson - https://www.biggerpockets.com/renewsblog/2013/05/1...

Brian Burke - https://www.biggerpockets.com/renewsblog/2013/01/3...

Sharon Vornholt - https://www.biggerpockets.com/renewsblog/2013/04/0...

J Scott - https://www.biggerpockets.com/renewsblog/2013/03/2...

Best of luck!

Michael

@KANE WHITESIDE

Your best bet will be to find a local bank that does their own portfolio loans.  They basically make the loan and hold the loan while you pay for it.  There are 2 basic types of loans that banks do:

1. Portfolio loans - The bank originates the loan and also services it for you.  These are usually 1% or 2% higher interest rates than secondary market loans and have a term of 3 to 5 years with a 15/20 year amortization.  The plus is since the bank will be holding this loan they can be more flexible with your self employed income and can be more creative in getting you a loan.

2. Secondary market loans - the bank helps you get all the paper work together and then immediately sells it off to investors.  Fannie Mae, Freddie Mac type loans.  They are more difficult to get but you get 30 year terms and lower interest rates.

Larger banks aren't going to be interested in doing these types of loans for you.  So skip Bank of America, Wells Fargo, etc.  Try the local community bank or credit union.

Best of luck.

Michael

From one CPA to another, welcome to Bigger Pockets, Albert.  Lots of good information on this website about operating a successful rental property business.

Michael

Welcome to BiggerPockets @Sherman Leach.