All Forum Posts by: John Welchen

Hi BP, I'm new to REI and just started a rental property company (a LLC). I look to make my 1st purchase in the next 2 months but have a FUTURE question about lease agreement. I like to plan things ahead so I need some questions about leasing. Should I have a lawyer draw up my 1st lease for rental property or should I find one online. Any lease templates you guys/gals recommend? Also, can a lawyer draft up a standard copy that I can use for all my future properties?

Hi BP, I'm new to REI and just started a rental property company (a LLC). I look to make my 1st purchase in the next 2 months but have a FUTURE question about lease agreement. I like to plan things ahead so I need some questions about leasing. Should I have a lawyer draw up my 1st lease for rental property or should I find one online. Any lease templates you guys/gals recommend? Also, can a lawyer draft up a standard copy that I can use for all my future properties?

Joe Splitrock thank you for the feedback. My goal with LLC 2 would to eventually manage other properties within the first year. I had planned on managing LLC 1 as well as finding other properties to manage under LLC 2. So LLC 1 would be for just property I own. And LLC 2 is for property I manage.

Hello All,

I'm new to the BP forum and new to real estate investing. So I'm curious to know if anyone has experience/knowledge about keeping your rental property and property managment company. Lets say I have 3 properties that I'm fixing up for rentals(all under LLC 1). I had planned on going with a property management company but decided that I will manage my own properties (start a PM comany LLC 2). Should I create 2 seperate LLCs for for both business ventures? Are their any benefits in creating multiply LLC's for this purpose? Has anyone had any experiences?