All Forum Posts by: Jimmy Jefferson

Hi BP! I’ve got a handful of residential rental units, but for the first time I have a detached 2 car garage to rent out. Any suggestions on where to post this garage space for rent? Can you do it on the regular platforms like Zillow? Or need to go to Craigslist or Facebook marketplace? Any thoughts or insight is appreciated! 

I recently rehabbed a property, signed a 2 yr lease with someone, then about a week before she’s supposed to move in, she informs me that she has an ESA (Emotional Support Animal), a huge dog - lab mix. We have a no pets policy and now she is saying we “can’t deny her housing”. However, we definitely do not want a dog in our newly renovated property. We told her the property and the current tenants in the apartment building (it’s a 5 unit building) can’t accommodate her dog, but she is adamant on moving in per the signed lease (which mentions nothing about her ESA). 

Thoughts on ways to navigate this and avoid a large dog in our newly renovated property?! 

Thanks! 

Thanks for the reply. I've heard that Listsource is mostly good for SFH and Propstream is good for both single family and multifamily. Another one I've heard of is Reonomy. Going to try one of them, just trying to figure out which one would be the most effective.

Hi all, looking to find owners of small multi family in my area and have found some on my own, but now looking to get a little more serious and generate more leads. The two tools for doing this I’ve heard of the most are Listsource and Propstream. Any opinions on one vs. the other or any other recommendations?! Thanks I’m advance! 

Thanks to everyone who replied! We ended up finding a very well qualified couple to rent this apartment to. We did not proceed with the lady who wanted to pay for a full year at once. Great discussion though and thanks for all the thoughts. 

Thanks for all the input, everyone. To answer the first question, correct - she does not have good credit. The escrow account is a solid idea that we did not think of. Will definitely check with our realtor also if we decide to move forward with her. Not having to worry about monthly payments seems nice. We just need her to take care of the place since we just put good money into it to make it a real nice 1 BR apartment. 

I’m renting out one of my five units in a small apartment building. The one prospective tenant wants to pay for a full year of rent up front at once. It’s about $16,000 for the entire year. Sounds good to me initially, but wanted to ask… Any drawbacks here of letting her do this? Thanks in advance! 

Hi all,

I've got a handful of properties (9 doors total) in my personal name. I recently created an LLC and am wondering the following:

- Is there any way to avoid the transfer tax (1% seller + 1% buyer = 2% total) if I would transfer the titles from me to my LLC?

- Will the bank call the loan due upon transfer?

- Can I start to use a LLC credit card for easier organization of rental expenses, prior to transferring properties' titles to my LLC?

- Can I accept rental payments for properties that are in my personal name into my LLC specified bank account?

Any information is appreciated.

Thanks in advance! 

Jimmy

@Bob Paxson thanks for the advice.  That makes a ton of sense and definitely something we will do, should we proceed to purchase this property.  I've got a great relationship with my brother and we obviously want to keep it that way!  Thanks again.  

@Adanna Davis thanks for the reply!