All Forum Posts by: Jennifer Rysdam

What I have read is that there is no difference. I was told if your income is going to be over $40,000 to have the LLC switched to an S. Corp to minimize taxes. Definitely talk to your tax person though. Every situation is different.

I hand deliver a copy. I also have been told by my attorney to have them sign something that says they received a copy of the documents just in case I have to go to court and they claim they never got one. 

You'll have to check with an attorney but I would be trying to file an eviction on the current tenants to remove their stuff and their people. Put it on them to get those people out. They may be more afraid of an eviction than the squatters. Sorry you have to deal with this.

If you do decide to go forward, I would definitely background check the co-signers and maybe get first, last, and deposit from them too. Also, be sure to check these people out on facebook and things like that. You can get a good look into people's lives that way. You may be able to see if they are legit or are scammers. Otherwise, if you have other applicants it might be time to move on. I've rarely had good luck with younger people that have no history to look at.

Some of my tenants drop a check or cash off at the bank. They can even put it in an envelope and drop in the night box. It's really convenient for them. I send out QuickBooks auto invoices every month and some pay that way too. I'm thinking of changing to Cozy.co though. QuickBooks takes about 7 days to hit the bank and I've ran into too many NSF. I've even had one recently NSF 2 days after posting to my bank account. The bookkeeping part of NSF's is a pain. I think Cozy allows you to pay a few bucks to have it post faster.

I advertise on apartments.com, zillow, local facebook rental and rummage sites, and craigslist. They are all free. I also have a website with all of my apartment info and a downloadable application. That way I don't have to get tons of phone calls because all of the information is there. Good luck!

Save the money and make yourself a reserve fund. Things will go wrong, tenants will move out, and you will be glad you have the cash to cover those things. Save it, save it, and once you have a bunch of money in the fund you can take some out and reinvest. I have an 8-plex and I like to keep my reserves at $20,000. Any more than that and I reinvest into flips. Good luck!

I would rent to him again. I cannot imagine my brother killing himself in my home. I don't know that I'd be able to go back in there either. All I could see is him the way I found him.

I live in a great big 100 year old house. Our upstairs is just like that. Do you have vents running upstairs at all? We have 2 vents running upstairs. Make sure those are completely open, and maybe close some downstairs. We have a Mitsubishi Mini-Split up there, but it's right at the top of the open staircase so the cold air goes right down the stairs anyways, so we never use it. We have lots of fans up there. One thing to do is open the windows before bed and blow the heat out one window while sucking the cooler outside air in another. You can also to put fans at the bottom of the stairs and blow them up the stairs. Another is to turn the AC down during the night and close any doors to the main floor or basement. We are thinking about putting vents on the roof and ends to help get rid of the heat. Sometimes we just turn the furnace fan on and leave it on. The basement is very cold and recirculating that air helps.
If a window unit would work it might be worth it, but then they'll complain about the electric bill, lol! Just make sure you don't put it near the stairs like our previous owners did :)

Haha! If only she was as picky about the ads and recommendations on her page as she is about this site. Talk about lacking context to stir the pot! (eyes rolling)
@Patrick Tromley Thanks for the recommendation! I just added it to my Chrome :)