All Forum Posts by: Amish Patel

Can I have some more context? Have you looked at other comparable rentals in the area? If so, how long have they been on the market and are they above or below your asking price? Generally, I keep at or slightly below others if I want to aggressively drive traffic and rent quick. It could also be a supply demand problem where you have too much rental supply and your asking price isn't competitive enough. 

@Serena Halterman Would love to join for the next meetup.

I currently own long-term rentals in California and Arizona. Looking to expand to Ohio this year with 1 to 2 more rentals. Can anyone recommend a real-estate investor CPA and trust attorney that understands California taxes to help structure the corporation?

you can look at twinmotion or Revit

Has anyone had any experience with any debt collection agencies for past due rent? I had a tenant that owes me over $7K. 

@Logan Pourbaix you can find private lenders under the Network -> Hard Money / Mortgage Lenders section here on bigger pockets.

It all depends on your personal risk management. I personally keep the equity in my primary home as the rainy day fund. Also, if you pull out the equity for a down payment on a rental can you still float all mortgages with no rental income. This was a rule that I had set in place many years ago and saved me during the moratorium. One of my tenants didn't pay rent for over a year (approx. 30k in rent) which I had to float.

I currently live in CA and own property in CA and AZ. Looking to expand my portfolio to other states and am looking for ideas on good corporate structures that can provide protection and allow me to add additional real estate into it. 

live in California and have rentals in California and Arizona. Looking to expand my portfolio to other states and am looking for ways to structure my corporation. ( i.e californial llc that owns llcs in different states )

Don't buy all your investments with 100% cash. I started investing with the assumption that all my rentals needed to be purchased with 100% cash. Though this was safe with minimal risk, it wasn't the best approach by any means. Fast forward to now if I had leveraged lenders I would have easily had 4 times the investment properties with substantially more cash flow and equity. On top of all that the renters would have been paying for my loans.