All Forum Posts by: Jonathan T Harned

HI Stephen, 

Welcome to the forum, and thank you for your service!

It's always great to see fellow veterans transitioning into the business world. I’m also based in Tucson and set up an investment company here just after I got out. Tucson has a lot to offer and is a great place to start on a new venture. 

If you ever want to grab a coffee and chat about real estate or starting your business, feel free to reach out. It's always nice to connect with like-minded individuals.

Best of luck with your new journey, and I hope we get a chance to connect!

Best,

Jon

@Belliny Flores You may want to look into a program by Pace Morby. You can search him on FB or Google, but he has a class you can take on creative financing and sub-to. I believe he also provides contracts, though I'm not 100% sure on that. 

Word of caution when it comes to contracts, specifically with sub-to. While you can use generic forms, to include the AAR standard form, there are many disclosures you will need to provide to the seller to ensure the transaction goes off in a legal and effective manner. Not taking the time to know what those disclosures are, or moving forward with a generic (OfficeMax, etc.) contract has the potential to bite you in the future. 

Good luck and again, I'd look into Pace Morby's site. 

@Augusto Celis You may want to look on the south east side of Tucson, down in the Littletown area. There are some 3/2 properties in your price range there and it's close(ish) to the freeway. That area is currently expanding and has a few larger companies investing in it (Amazon), so I'd bet on it continuing to be a good growth and appreciation area for Tucson. 

As for Trulia, it's an ok site to search, though it does have one outstanding feature: the crime map. If you click on the map for a property, you'll be given an option to change what the heat map shows, one option being the crime in the area. I've found that feature very helpful. I'm not sure if Zillow has integrated that into their site yet. 

Hello @Thomas Rodriguez, 

Have you tried rent-o-meter? It's an online site which you can either pay for or use for free (simplified) which will give you general current rent prices for an area based off the type of property. 

rentometer.com

While I'd still ask a current landlord or property manager, this would be a good way to start and will give you a basic idea. 

Hope that helped, 

Jon

Hello All!

Just posting to the masses, looking for some advice. I'm in the market for a bookkeeper in Tucson, AZ who specializes in rentals and real estate-related accounts. If you happen to know of someone, or currently work with someone you've had success with, I would greatly appreciate any recommendations. 

As always, thanks for the help BP!

-Jon

@Thomas C. Regarding your question about placing tenants, JC is actually doing that for a lease option I'm working on for me right now. I'd give him a call and ask about his company's services, he's very amenable and I'd be surprised if you couldn't work something out. Good Luck!

Hi Thomas!

First off, congrats and good luck! If you're in the market for a property manager for that area, I'd like to put in a plug for JC Cardwell and his team at CareRealty. I'm currently using them for my properties and after having gone through a bad previous manager, I would highly recommend JC. As an out of state investor, he has made my life easy. Super friendly, quick to reply and takes a genuine interest in maintaining your properties and handling issues with tenants. 

Again, good luck!

Hi Ya'll, 

I do have a great PM I work with in Pensacola. Care Realty, owned by JC Cardwell. Since renting in Pensacola, I've gone through one bad PM, did a ton of due diligence on the second and can't be happier. These guys walk their talk and have made my life amazing. Highly recommended. 

Also, if you need a broker, please try Riki Hasty. He negotiated a deal for me that I'm just now closing, locking me in at 2.5% fixed for 30. Again, super easy to work with and doesn't mind both teaching and explaining when I (a newbie) had a question or six. 

Good luck all!

Hello All, 

I'm looking for some advice on the creation of a checking account for a R.E. investment business. I'm unsure if I need to set up an individual checking account for every LLC, or if I can have one LLC manage all the finances for multiple sub-LLCs.

My goal is to have one LLC act as an overarching parent company that would oversee and contain other LLCs holding either small groups of properties or individual properties based on the size/risk of those investments. Currently, I have one LLC based in WY (for the anonymity benefits) which I would like to use as the parent company. I also have another LLC formed in FL which holds my two current rentals. At the moment, all the proceeds and expenses flow through my personal account, which, before I get blasted here, I am aware is a big no-no (comingling) if I desire to make this a ligament company. I will also be creating a third shortly when I move to AZ and begin to acquire other properties out there.

With that, do I need to open multiple business checking accounts for each LLC or can my WY based one manage the finances for the others? Ideally, I would like to have one large account that would collect rents from all the properties, pay the expenses, and provide a single point of contact when purchasing new investments. If I understand what I have read, this would also allow any monies in the single account to "season," increasing my potential for conventional loan acceptance.

If anyone could provide a little enlightenment on this subject, or point me to some quality reading material, I would be very appreciative. 

Happy Holidays to you all and thank you in advance for any advice you can pass my way. 

V/R

Jon 

Hello Again All, 

I am currently invested in two rental properties in the Pensacola, FL area, and am looking to acquire one more within the next year. With that, I will also be moving away from the area and am looking for a trustworthy and reliable property manager to oversee the properties in my absence. I have queried this forum before with great success and now would like to do the same again. 

If you happen to know of a property manager who you've worked with and who currently operates in that area, would you mind sending me a referral? 

As always, thank you all in advance for any info you can provide and thank you to BiggerPockets for establishing this community. 

v/r

Jon