All Forum Posts by: Andrew Tozzi

Hey David, 

Thank you for the feedback. 

So when you have tenants send it over via zelle do you normally just transfer that money over into your personal bank account? Do you find that it would be helpful to have a completely separate bank account # for your business and another for personal? 

I am trying to understand best practices for transactions with contractors and tenants while making sure it is still well organized. 

Great discussion here and am looking for similar feedback on my partnership setup; 

Not planning on occupying and looking for a multifamily property

Partner 1: Financial partner - 

- Will provide 100% of the 25% required for down payment on property

- Not responsible for any rehab costs 

- Equity gained from down payment is owned by partner 1, equity is split 50/50 after 

Partner 2: Managing/Loan partner - 

- Will provide 0% of funds needed in down payment

- Receives 50% of equity after gain in equity from down payment is given to partner 1

- Loan is taken out under managing partners name

- Manages property

- Provides funds for rehab expenses

Does this look like a 50/50 split in resources and responsibility? My partner and I are new and we are looking for feedback to ensure both parties are happy down the road. 

Hello All, 

I am a first time real estate investor that is looking for information on best practices for setting up a checking account and arranging payments from tenants to be received on mobile apps. 

For more details, this will all be done under my LLC and without getting into the weeds of why I chose to go the LLC route, it is my understanding most mobile payment systems do not allow consumer to business transfers.

Any advice is greatly appreciated!