All Forum Posts by: Kejia Tang

@Doug McVinua the income property addendum is very helpful, thank you! Does the rent roll contain record of past rent payments (e.g. whether tenant missed payments or were late)? I looked at a few online and it seems inconsistent what they contain. And how would you advise an investor solve the problem of not knowing the tenant? Would they create a tenant screening contingency and screen the tenant themselves? It seems a large and unnecessary risk if a buyer has to simply accept a tenant and trust that the previous landlord did a good job of screening.

Hey guys, rookie investor here. I'm looking for my first investment property and several properties I've looked at come with a tenant in place. I'd like to know what the seller is obligated to disclose about the tenant if they accept my offer. Ideally I'd like to see the tenant’s rental application, credit report, background check, all other screening measures the seller took when the tenants first applied, rental payment history, as well as current lease. Are sellers required to give that to me, and to do that in a timely manner that allows me to pull out of the deal if I don't like what I see? Is there standard language that I need to put in my purchase contract to get this info? I'm in Arizona and I've been trying to google this but haven't found anything so far. Any advice is helpful - thank you!

I just got a reply from the statutory agents I emailed. They said they can do the setup for a fee and I can use their address for all State business. I think that's enough to get started.

Hi, this might be a dumb question, but I was wondering how people form LLCs out of state. I've formed in-state LLCs and Delaware C-corps, but those seem a lot more straightforward than out of state LLCs. 

I found a few LLC formation and statutory agent services in the state (Arizona) where I'm interested in forming, but I'm not sure what to do about business address and publication requirements, and my emails to various LLC formation companies went unanswered. The internet tells me I should move there before I form an LLC, which is not helpful. I know a lot of investors here form LLCs outside their home state - what's your basic setup for formation, publication, business and mailing address, banking, etc? Thanks!

I was thinking more just plugging in numbers from a 3rd party rent estimation site; I'm surprised there isn't a tool out there, but maybe because anyone who cares makes their own custom one like you said.

Hi, new to real estate, been enjoying reading you guys's posts. As I'm browsing the forum, I see a lot of people who seem to have built custom web scraper software to find and analyze deals, but I was wondering if there is commercially available versions of those? Software that automates the process of scraping listings off popular sites (or using their APIs), plugging in the numbers on something like the BP rental property tool, and then spitting out a ranked list of top deals, updating regularly?

I find myself going to realtor.com every few days, plugging the same numbers over and over into the BP rental property tool, and I figure there must be an automated service for that.

Any suggestions appreciated.

@Joseph Firmin the forum should sticky your list!