All Forum Posts by: Ryan L Grinstead

I have my LLC with my property in it currently. For collecting rent purposes, do I start a separate business account for the LLC and put rent into the account and then pay myself like that or is there a better way or more tax efficient way? Advice from CPA or lawyer would be greatly appreciated.

Advertising your rental using social media. What are your do's and don'ts?

What are the minimum standards you set for tenants applying for your rental properties? Obviously following fare housing laws. For my area it is a lower income area. Not the best part of town.

Thank you all for the input. I ended up passing because it was HUD Property and needed a lot more cash up front than I was prepared for. Silver lining is it peaked my interest in HUD properties.

Yes it's just a duplex. I currently live in one side and have the other side rented. Moving out I to new house so I need to get my side rented. Need a reliable way to screen tenants.

What are the best resources for screening tenants. I have heard of rent prep but does anyone have another suggestions?

I've stuck to Lowe's mainly because I went with porter cable for power tools and HD doesn't have them. Where do you guys go for appliances for rentals?

I am looking for ways to creatively get closing costs without asking family. I've heard of cash advances on credit cards. 140k property with about 4800 cash on hand. FHA loan. I am seeing if seller will cover some closing costs, I just want to see if anyone has other solutions.

Phil thank you for laying that out. I did no know anything beyond some of the FHA stuff. I did a little research and looks like I have to go with FHA. Thanks again!

How does it work and what are the terms usually? Is it better for local banks or bigger ones?