All Forum Posts by: Aaron Van Curen

@Natalie Kolodij Well, I bought the property under a single-member LLC so I have a separate bank account for everything relating to the rental. I figured I would legally have to charge the LLC a management fee if I wanted to get paid for managing. I leave the rest of the rental income in the bank account for any future expenses.

Is there a more simple way to do this?

If I own a property under a LLC and pay myself 10% of the monthly rent, which would add up to more than $600 per year, do I have to send myself a 1099 for being the property manager even though I am the sole owner of the property? I run the property managment as a DBA, Lovely Living Property Management, so that I can hide my identity but it's not incorporated at all. Thanks for the replies!

This is a pretty vague question. What are your goals? Are you wanting low-risk with lower returns or the opposite? Established areas, developing areas, redeveloping areas? What kind of tenants are you okay with dealing with? An area is only bad to invest in if it doesn't fit your criteria. I know people who invest in the "hood" and kill it and others who invest in the higher middle class areas and see small returns but have tenants there for over a decade. It all depends on what you're looking for.

Monique Burns wrong Lafayette. This post is for Indiana. I own a duplex in the 47909 zip code and am an owner occupant. Recently received my real estate license and will be ramping up a property management company. Please let me know if there is any way I can help you find, analysis, and/or manage properties.

Hey Aaron,

Looks like we have three things in common: our name, real estate, and we both go to Purdue! I currently own a duplex in Lafayette and am a owner-occupant. I would love to get together sometime and chat. I would also recommend the meetup @Nay Morgan posted.

-Aaron

I own a SFH in Fort Wayne and a Duplex (I live in one side) in Lafayette. Just received my real estate license and will be ramping up on property management for others. I know of a few duplexes in Lafayette that are between $150,000 - $200,000 earning around $2,000 a month.

Very brief, message if you want to learn more about this area.

I'm a local and would like to take a look and close in 30 days once we have a PA. Let's get it done asap. Email me: [email protected]

I would buy a duplex. Solves the issue and your renter should pay the mortgage. Do this until you can get the personal loan you want from the bank.

Now I suppose you came here expecting a story of how I bought a property, however, I am actually seeking advice. I own this property in a somewhat rough area that is expected to be getting a great deal of renovations through the next 5-10 years as it is located near downtown Fort Wayne. This morning I got an email from a tenant explaining there was a drug raid across the street and had sent me a video of it. I deeply committed and concerned about this situation and really want to help this area. I am considering on buying this property if possible and was wondering if there are any creative ways of buying such as working with the city and/or police department to somehow get a discount or some loan from the city to do repairs and revitalize the area. Any input would be greatly appreciated. Thank you!!

@JD Martin sadly, the box is still grayed out and the system won't let me purge the bank account.