All Forum Posts by: Beth L.

Haha @Account Closed just thinking that might be the connection.

I've noticed that sometimes people call me Becky in email communications, even though the name Beth is right there. Although Becky is a lot closer to Beth than Patrick is to Neil! :-)

@Neil G. Maybe they are making an association of Neil Patrick Harris to remember your name.

@Karen Margrave

 None that I know of. The only thing that really makes it a vacation rental is that it comes furnished, and sometimes with future bookings and/or PM in place .

When looking around the greater Orlando area, I have only ever seen them on the MLS, with something in the description about it being furnished and this is also listed as interior features.

I am sure that you could also list on your own through FSBO or Craigslist, but I would think that the MLS is the place that most would look, besides here on BP.

@Wayne Smith

 I have only used tenantbackgroundsearch.com I think it is great! There are three levels in which to choose, but the highest level (only $29.95) includes a nationwide eviction search, nationwide criminal search, along with previous address history and a great credit report.

I gather their info on the rental application, and submit an order for the report and pay with a credit card (I collect an application fee from them which almost covers the cost). It emails the prospective tenant to complete the process, which is pretty painless.

I don't care so much about their credit score, as much as if they are past due on any payments, how much debt they have, or if they have been untruthful about their history in any way.

I find that those that have something to hide decide not to put an application in on the unit, since they know I am doing a background and credit search.

I understand though that there is Tenant Screening / Mysmartmove available through BP, but I don't have any experience with that service.

@Account Closed I think it is great that you and your wife have found a process that works well for you. I know someone that is an onsite manager of a 24-unit building, and has been for like 20 years. He rarely has issues with evictions or late payments, and he doesn't even take applications, search background or anything. I don't even think that he gets a copy of their ID. He basically interviews them and "gets a feeling" from them whether they will be good tenants or not. I would never do that, but it works for him.

That being said, this is a forum where we help our fellow landlords. So it would be great to share if you have found where to search for landlord/tenant cases in Maryland, including evictions, as I haven't been able to find it. You might be quite the hero to all of us MD landlords. :-)

@Jonathan Pockets really then you would want to look for deals that would cash flow with the financing you want. Keep in mind that if you are purchasing in the name of an LLC for asset protection, most likely you'll have to get a commercial loan, so the terms there are usually 25% down for 20 years. That really crushes cash flow!

@Matt Weaver

Oh and here is a recent post about it:

http://www.biggerpockets.com/forums/52/topics/164042-best-quickbooks-desktop-vs-online-for-landlords

I am sure there are others as well. You may want to search the site.

@Matt Weaver

 Our CPA gave us the differences between online and desktop. I don't have the email here, but I am sure that this info is listed online.

@Andy H. there are lots of forum posts on QuickBooks. Just type it in the search box above. You may find some more suggestions from others. I know that there are some QuickBooks experts around here.

I believe you would just create separate accounts for each entity to keep the funds separate. But if that is not necessary, then you can create different GL accounts for each entity. There are a few QuickBooks experts around here that I am sure will jump in.

Right now I use Quicken Rental and created tags for each property/LLC and I also keep separate accounts for each LLC. It is pretty easy. However, my accountant wants me to switch to using QuickBooks since the balance sheet and reports will give him everything he needs and he said that now that we are getting bigger it is better to keep track in QuickBooks since it is designed for businesses. I am not looking forward to converting everything and learning a new system.

And they poured cement down the drains. WOW! They were really upset about leaving!