All Forum Posts by: James Petry

@Eric Veronica

Good advice

@Brian Gerlach

Good advice ... thank u

Hello all:)

I recently applied for a home equity loan on a property that I've had rented for 3 years now and on paper own it free and clear( personal loan unsecured ) I was told by the bank that the property could not b in my LLC for the loan . So I quit claimed it to my name and now they say I have to wait 6 months since it just changed ownership on paper ...... any thoughts ?

Finding another tenant. So , I have to fill a vacant property at the end of the month and I’m trying to streamline my process. I’ve done this a few times and so far it never feels smooth enough. Here’s what I’ve done . 1) I post the property along with what is absolutely necessary ( income amount , no evictions ect) 2 show the property open house style and hand out applications and accept the fee with the completed ones 3 pick the applications that meet the outlined standards , call their references , past land lord ... excetera 4 pick one of those and run the full back ground check 5 if the selected one passed .... I refund the cash to the applicant that I didn’t run the background check on Opinions or suggestions on this process would b great

thanks for replies everyone 

Negotiating a deal on a sfr with an out of state tust company.  The seller countered my offer and added a stipulation that the earnest money be bumped up from 500 to 3000.  I dont mind putting the money up as i dont intend to break the deal. Anyone have advice or experience on not losing earnest money to something out of my control?

I'm kinda going through a similar issue but I used an HVAC guy that's driving around in a van. 1400$ and over a month and I still got no ac and a lot of head ache..... I'm guessing mine is going to b an expensive learning lesson as well will urs ... good luck

Ok , great. I have my 1 tenant depositing their rent directly into a bank account in my name .... I guess I need to change the name of this account to my new llc?

Hi BP people . Closing on my 2nd rental now since becoming a member. I decided how's the time to convert to an llc. My question is gjis though ( I was told to keep all the property transactions in the llc. How do u guys/girls keep all the transactions organized / within the llc name .... hopefully my question makes sense

Now that im investing in my investment (repairing and foreclosed house) im getting tons of receipts that i assume i should be saving for tax benefits. How does the rest of the world do this? Giant shoe box of receipts, I did see an app for i phone that scans and converts to pdf file. Any suggestions appreciated