All Forum Posts by: Jonathan Cubeta

I'm putting working on my business plan for my property management and investment company.  My question is what financial statements should I include for my current properties.  I'm going t be using this plan to seek new financing, wheat her it's conventional or through private investors.  If I include the income statement it shows the property at a loss because depreciation is factored in.  But the cash flow statement shows a strong positive cash flow.  Should I just include them both??

Hello

I'm in search of a good real estate attorney in Ct.  Looking for one who has experience in land lord tenant law.  ( eviction). Yes, unfortunately I need to evict a tenent and my current attorney who I haven't used in a while retired.  Also, any suggestions on the eviction process in CT.  

Thank in advance for any help

Hello

I'm in search of a good real estate attorney in Ct.  Looking for one who has experience in land lord tenant law.  ( eviction). Yes, unfortunately I need to evict a tenent and my current attorney who I haven't used in a while retired.  Also, any suggestions on the eviction process in CT.  

Thank in advance for any help

What tenant screening sites has everyone had luck with? I'm looking for a new service and was leaning towards myrental.com, has anyone had experience with them? Thanks in advance for the help.

I'm a Realtor and an investor and I always inspect my properties and recommend the same to my clients. The only time you should skip contingencies is if the property is extremely discounted and you know it needs major repairs going in, maybe a flip or a cheap foreclosure, otherwise always do inspections.

I am not an attorney so as far as legal wording I can't help, but I think I understand what you are trying to say. Will you be close to the property to check up? Otherwise you should consider a property management company. It's always a tough situation having tenants do all the maintenance and up keep. I personally do not let my tenants touch any maintenance issues. You are defenetly on the right track looking at other leases, have you tried nolo.com

you do need to be careful because the lease may not be enforceable, an LLC is a business entity, the owner should sigh his name as member/owner I own multiple LLC and any kind of business loans or contracts have to be signed by a person. People try to use there LLC to avoid liability, make sure you have someone to hold responsible and liable for any damages

don't do it, the one time I decided to try and help out a tenant by doing that a exact thing. I got burned and stiffed out of security and multiple months rent.

SAY NO

Hi Rich

If you end up working with a Realtor be sure to use one who knows Investments, they will all tell you that they do but find one who knows what NOI is and cap rates and always make sure you run your own numbers.

you can have the tenants make the check out to whom ever you like. You can change all your accts in to the LLC but with out refinancing into a commercial loan the mortgage will be in your name. Have them make the checks to the LLC, you should also get a checking acct in the LLC to pay all the expenses. This way at tax time you can distinguish between rental income and personal income. Any time I have existing tenants I have them sign an addendum that states they understand the mailing address has changed. This way they can not foret to pay a month and say they sent it to the wrong address. I would have them sign a new lease as well and don't forget to get any security deposits at closing.