All Forum Posts by: Kate Jones

To all real estate investors, what did you prepare before you made your first property purchase? Did you create a company name, business website, business card etc. What do you wish you would have been more prepared for regarding your business? Before you made your first purchase, did you have contractors, agents, and lenders in hand? 

If you own multiple properties, do you have a bank account for each of those properties? How do you keep track of the finances if you have a say a duplex with two different sides/doors of the house that has tenants come and go at different times for each unit? Any suggestions on certain banks to avoid or great banks you have investing experience with? 

 Thanks for your feedback. How do you organize these? With the title connected to the property? Perhaps the dates? If you have multiple tenants within a year or a few months, how do you keep track? Certain PowerPoint slides with the tenants names with the date under a file with the property name? 

When you are switching tenants, do you take pictures/videos of the room/home in-between each group of tenants? If so, where do you store them and how do you organize it?  

I just started learning about real estate a few months ago. I am from long Island, New York, which is an expensive market. I am finishing up a two-year school at the moment. I am trying to buy my first property and I am looking to house-hack. I was looking into other states. Do you think it’s a good move to start someone else that is more affordable to build my portfolio? I do not have any connections due to Covid and just being new to real estate. In order to meet other investors and potential partners, I would have to drive a lot. It is just inconvenient right now. If I start out in New York, it would take more time and I need to move somewhere where I can start my business. 

Hi everyone. Quick question. Say you want your tenant to move out. You give them a list of things to do before they move out and when they need to move out by. Say one of their tasks are to clean up so it looks like the next tenant can move in . Say this is a cash for keys type situation and you are kicking them out to avoid eviction fees and you both agreed for 500$. What would you do if they did not do half the things you asked them to do such as their part on cleaning? I understand you shouldn’t give them the money until they do everything but that costs you time and money regardless if you want them out but they aren’t holding up their end of cleaning. 

 This helps a ton. Thank you so much!