All Forum Posts by: Ben Morris

I Rented a house to a lady with three kids back in August. Only she was screened, therefore only her name is on the lease. In September she moved her boyfriend into the house. I didn't have a problem with it until they were unable to provide proof of employment for him. I did get a copy of his license, which has the rented house as the address and issue date in September. So now I want him out. FYI the house is in PA. 

Thoughts?

@Linda Weygant, I report all of my cash. The more my business is worth, the more the bank will lend me against it, the more I can invest. Don't get me wrong, I'm breaking down all of my expenses into categories in google sheets to report to my cpa. That is the task I'm trying to simplify. I'm just tire of manually tracking every dollar I spend. I guess the best thing to do is commit all business spending to one card and omit the cash from anything other than personal.

Thanks to all of you who mentioned your favorite systems. Ill let yall know what I choose. 

Thanks Natalie, I do have a dedicated business account. However I use my amazon credit card to make most purchases, I use my checking account to pay bills like utilities, and sometimes I pay cash for things like gas. I use cash sometimes because I have a lawn care business, And sooo many people like to pay me in cash even tho I have PayPal and Venmo. I mobile deposit when they pay me with a check.

I have three SFH, and one under contract. At the end of every month I collect all of my receipts, and my credit card statement, add up all of my expenses and deduct that from my income. This process is ridiculous, please tell me what solutions have worked best for you and how to get started.

My brother-in-law approached me about partnering up. We both want to grow and be very successful in real estate. I live in an investor friendly market, he has an investor friendly bank account, but his market isn't as friendly. My bank account isn't as well equipped for investing. What is a fair way to divide the profits if he finances the entire purchase and I do all the hands on work. Meaning I do the due diligence and manage the rental property. I really want to partner with him because I believe we can go further together, but I want to be sure we are both getting a fair deal.

$19,000

Buying a house ($21,222.00) that needs repairs, should I use my money to buy the house and then use an LOC (Line of credit) to pay for the repairs? Or vise-versa; my money for the repairs and LOC to purchase the house. A third option to pay for the repairs would be to refinance after the house is purchased. BTW the LOC is at 6.5%. Please help, this is my first investment property.

I am a teacher but desperately want to attend. Is there an evening time that could work for a meetup?