All Forum Posts by: Brent Causey

I've read several of the forums on property managemnet software. The company I work for has 150 units that they manage through some older software that is reaching end of life. 

We are looking for a piece of software that will allow the tenants to not only pay online, but pay online through an application or from their mobile device. 

Has anyone had any experience with this? 

Thanks in advance 

Brent 

 Thanks. 

That's what I said, I'm not worried about being able to pay the bank back. I'm worried about a tenant suing me and getting my lot. If they sue my LLC they can get the cash that I loaned the LLC, but not the actual lot.

In a worst case scenario, I am out cash - yes, but I'm not out the lot that is more valuable to us to have than the money.

So, Here's what I am doing per CPA. Personally getting LOC/Loan against Lot in my name, personally. Personally loaning money to LLC. LLC will repay my personal loan. Land not at risk. Worst case scenario and LLC gets sued, I'm out the money that was borrowed by LLC.

Cannot sell it. It's next to a family camp we've had for 30+ years. I just spoke with my bank and they told me they'd loan up to 90% of the value. I have a really good relationship with my bank though. 

Let me clarify.. I want to get a LOC or Loan with that land as collateral to use as downpayment for purchasing first rental. Unless there's a better way to do it.

I own a lake lot outright that will appraise for around $50k. This lot is on a high demand lake and lots/houses are scarce, as most lots and homes never make it to market - they are sold through word of mouth. 

I am wanting to get my first rental and I want to use that $50k asset as collateral. What %of that $50k asset can I get in cash, as a general rule of thumb.