All Forum Posts by: Andy Wilson

I have my first rental property now put on the market. I am having one or two applicants everyday and some of them really want it and are willing to pay several months upfront. But I am not really interested in “bulk” money.

Should I increase the rental price or just wait for the most qualified tenant to come? The number still makes sense but obviously bigger number is better.

Any advice?

I just found zenbusiness. Any one to share experience?

Hi BP,

I am trying to start LLC. There are lots of online companies and registered agents that help to form LLC. What would you recommend to form LLC from the scratch?

I don't even have a tenant yet but because I put lots of money and effort foe this property, I guess I can say I am changing sole proprietorship to LLC, right?

Any advice will be appreciated!

@Patricia Steiner

Thank you for advice.

It was so surprising how easy to identify personal info these days.

I am just a humble physician, definitely not rich at all. I just purchased a rental property in a decent area and somehow my neighbors thought I was moving in and said “welcome, I heard you are a doctor”

I did not want my future tenant to know what I am, but I guess the tenant would soon learn what the landlord do.

I don't know how these people know this personal info. Any advice in this situation? for the future reference, how would you make yourself invisible as the property owner? Setting up LLC by consulting a lawyer?

@Sue K.

So, BRRRR could be dangerous without enough reserves I guess.

Thank you for sharing

Hi BP,

I realize again the importance of avoiding over-leveraging especially in this unforeseen recession crisis.

I thought I would never leverage more than I can handle (pay them all back) in the worst situation, but am realizing that this is a pretty vague principle. More importantly, it substantially prevents me from scale up enough.

How would you define over-leverage that should be avoided?

Hi BP,

How can I prove that I am paying my kids for painting work for my rental properties? I think it will help to write off for tax. Right? But not sure how without official invoices.

Thank you.. i am not sure if there is any downside to apply though..