All Forum Posts by: Ran Fridman

Hello, my friends! I am a property manager in Chicago and I need reliable handymen all over the Chicago area. If you share, will be appreciated. Looking forward to having some good contacts. Thanks!

Hello, Douglas! Very useful video is not only for people who are looking for a property management company but for a property management company as well. Keep it going 😉

Hello, CJ! In addition to sending a certified letter dismissing the tenants and providing instructions for the deposit return, consider documenting the property's condition with photos and a thorough inspection report. Clearly outline any deductions from the deposit and adhere to state laws regarding the timeline for returning deposits. Consult with legal professionals if needed to ensure compliance and protect your interests in managing the property long distance.

Hello, Laurel!

Yes, property management companies, including those with LLC structures, commonly provide a W-9 form to investors. The W-9 is a standard IRS form used to request the taxpayer identification number (TIN) and legal name of the entity, which is essential for tax reporting purposes. Providing a W-9 helps ensure accurate and timely processing of tax-related documents.

Hey Rick! Welcome to Bigger Pockets and congrats on diving into real estate investing.

Great call on exploring HELOC with equity in your home. For financing, check out local banks, credit unions, and online lenders for investment property loans.

Considering an LLC is wise for asset protection. Build its credit by opening accounts in the LLC's name and making timely payments. Talk to a local business banker for guidance.

Best of luck with your 2024 investment goal!

Hello, David! Given the credit score disparity and the man's score below the minimum requirement, it's advisable to exercise caution. From my own experience, it's better to evaluate other potential tenants who meet your criteria to ensure a more secure rental arrangement.

Hello, my friend, hemlane is good, but you could also try avail, it has a lot of features as well and, as for me, it's a simpler interface. Good luck!

Hello, Margaret, as for me complaints from investors and owners switching property management companies include poor communication, lack of transparency, delayed response to issues, and insufficient attention to property maintenance. These issues often lead to frustration and financial losses, prompting the decision to switch management companies.

Hello, my friend, congratulations on purchasing your first property. Here are some tips to be a good landlord for you:

1. Understand the basic rules for landlords and tenants in Detroit.

2. Screen tenants well by checking their history, income, and references.

3. Make a straightforward rental agreement covering rent, rules, and responsibilities.

4. Regularly fix things, check the property, and make upgrades as needed.

5. Communicate with tenants openly and solve problems quickly.

6. Clearly state when rent is due and consider online payments.

7. Keep up with local rent trends and property values.

8. Have a plan for urgent issues and share emergency contacts with tenants.

9. Make sure your property meets safety standards and stay updated on local laws.

10. Know local pros like contractors or property managers who can help.

I hope that will help you, anyway, if you have any questions feel free to reach me. Good luck 😊

Thank you my friend