All Forum Posts by: Adrian Vega

@Melba Chambers

I live on the first floor so I didn’t see it being a issue but I might have to move to a alternative source. Any recommendations?

@Sai T.

Still learning. But thanks for the input maybe I feel butthurt because I had dinner with them last month and they said I’m a better landlord and treat them great so it was weird to see this message so I felt a type of way but I have to remember this is a business not personal.

Hello all,

Thanks for any input. So I have owned a 3 family since February of this year. I did inherit my 2 tenants anyways I have always texted them a day before letting them know I would pick up the rent from them and give them a time and I normally get the response of ok thank you or no I won’t be around can you come at so and so hour and it’s always been easy. So today I send my texts out and one says ok see u tomorrow and the other says “ Good evening.. adrian hope u don't get bothered but can u please wait until I contact u to pay the rent I feel pressured when u ask for it. It's like u dont trust me my rent will alway be on time i have a five day Grace period thank u. and sorry”

How would you handle that? I am just looking for alternative responses as I just want to tell him off but I have to bite my tongue and see how some other seasoned landlords would handle this.

They both pay cash btw.

Thanks for any constructive feedback.

@Andrew Syrios

Yes I have current loans on both the 3 family and SFH. Would it be better to call and ask if they would call the loan if I were to transfer to a LLC?

@Andrew Syrios

Thanks for the reply. If I move them to a LLC wouldn't I have to refi it could the loan be accelerated?

@Steve Hall thanks for the reply. I am going to have to look up the 121 I don’t even know what is it. Learning as I go just trying to not get burned to much along the way. Thanks again

Hello,

I purchased a single family home 4 years ago and just recently moved out and now owner occupying a 3 family. I rent out the SFH and also have 2 tenants on the 2nd and 3rd floor of the 3 family and I'm on the 1st floor. My question is since I have done this with out a LLC and am a sole proprietor is it worth creating a DBA? Are there any tax benefits in doing so? I plan to purchase another property in the future thru a LLC but might not be for awhile. I know liability is a issue being a sole proprietor but curious on if it's worth getting a business certificate from the city or just continue to do what I am doing. I do also have a separate personal account that I only use for the rentals.

Any help would be appreciated.

@Joe Splitrock

The property has steam heat. Do you have any recommendations on a smart thermostat? I could maybe put them on timers.

@Joe Splitrock wow that’s is exactly what I’m afraid of!

Hello everyone,

I am new to real estate and myself and father are new landlords also. We purchased a nice triplex and I am a bit concerned about having to pay for heat and hot water. At some point we will figure something that is beneficial for us and our tenants but for now I am looking for some feedback on how to manage this appropriately I am scared of high heat and hot water bills due to ignorance.

Thoughts...

Thanks for any feedback.