All Forum Posts by: Jake Hill

I own a rental property and I want to separate that property from my personal assets.

Can I form an LLC for a property management company to rent out the property instead of listing my personal name on the lease? I do not want to transfer the property to the LLC I just want protection for myself. Does this make sense? Is it possible?

Looking for advice on the best strategy for setting up a separate bank account for rental income/expenses. Rental property will be in owners name and I would like to separate business accounts from personal. Thanks!

Planning to rent out primary house in the next 6 months. Will need to buy another primary to move into and I am wondering how you leverage the rental profits to show income when purchasing the next house. Thoughts?

Hi All,

Planning to start renting out our primary home in the next 6 months. Any advice on transitioning a house to a rental? This will be first rental property.

Thanks in advance.

@Patrick Drury thanks for the comment! I agree brining value to people is a great way to learn and show appreciation. As an agent yourself, what kind of things would some do for free to help you out?

Looking to network with local real estate investors in the Minnesota area.

@Zach Wain the property is our primary. I will explore the HELOC. Thanks for the advice!

Ok here’s my situation -

Bought a house 3 years ago with the intention of flipping and then selling with in 4-5 years. We bought when interest rates were low (3%) and have a relatively inexpensive mortgage payment. Rent in the area has increased and we could have good cash flow so now I plan to make this a rental.

My question is what is the best approach for starting the next property? Best way to leverage the equity in the rental? Equity is 80-100k, haven't got a formal appraisal yet. Or do I go the private money route or conventional on the next rental? Next house I am looking to BRRRR.

Thanks in advance!

What is the best strategy when turning a primary residence into a rental property?

Debating on selling property after basement renovations or turning into a rental property.

@Jeffrey Donis I understand the agreement part. I have some contracts I plan to present to an attorney to review. I am trying to better understand how to legally sell the contract to a buyer. My thoughts are that you would need to describe and show the property, which would mean I am acting as an realtor and would need a license? How to wholesalers promote the deal legally?