All Forum Posts by: Kurt K.

It could have religious undertones. Best to stay away from those types of images. Plus when you reduce it down it will be hard to read. Never use yellow for the type color. Again, hard to read small. Maybe a clean type treatment. The color green comes to mind.

@Brian T. Grooms It should be interesting how this plays out. I agree, there are going to be some lawsuits.

Hi Don,

Even though I don't have any properties in AZ, here are a couple of PM companies you might check out. 

www.myhomepm.com

www.legacyhomemanagement.com

I picked up a brochure of My Home Property Management at the last AZREIA meeting and I've seen a gentleman from Legacy Home Management post a couple of times. Unfortunately, I can't recommend either of them because I haven't used them. Hopefully someone might have a referral. 

I've been told its best to talk to a couple of PM companies before you make a decision. 

Good luck.

I inherited 14 rentals at once this year without any kind of real estate experience, so it was an eye opener for me. 

For all of my transactions I use my LLC name for tracking expenses which helps with record keeping. But you can also do that with your personal name.

I'm not a lawyer and can not confirm the risks. But it seems there shouldn't be that many risks involved if you are just paying a utility company. I dont think they really care what the name is only if they get paid. 

When you contact the utility companies, you might check if it matters if you use you personal name or your business name. Sorry if I wasn't much help.

Even though all of my tenants pay their own utilities, I've set it up when a tenant moves out and pays the final bill, the utility automatically goes into my business name (LLC). You dont need a lawyer for this. If you dont have an LLC I'm thinking you can use your owner name. The utilities should offer some sort of agreement that you can sign up for this with all of your properties. That way you dont have to pay a deposit everytime it goes into your name.

You will have to contact each utility to set up this type of agreement and confirm what there terms are. Good luck.

Some great info already said. I would recommend not furnishing a unit in a college area. I'm thinking it would get banged up pretty quick. Not sure what kind of furniture would be renter proof in a college town. IKEA is nice but not sure it would last long. Most college kids when they have to furnish their own furniture buy cheap stuff. When a semester ends some of it ends in the trash. 

Then if renters have renters insurance, how does that play into a furnished apartment? Some things to think about.

Interesting article

Real estate firm Point2 Homes looked at how much house or square footage you can buy in Phoenix, Denver, Boston, Austin and other U.S. cities. Here's what $300,000 will buy you here and in those other markets:

http://www.point2homes.com/news/us-real-estate-news/much-house-can-get-300000-top-50-cities-us.html

@Don Konipol Makes some very good points about investing with family members. As he stated, it will change your relationship. Money can do funny things to people, especially family dynamics. I prefer not to mix family with business but that's just me.

Whatever you choose, there are consequences if it does not go right and be aware of that. Good luck.

I'm sorry for your friend's loss and I also lost a family member this year and inherited a number of properties. The first thing I did was not make any rash decisions and take steps to protect my assets and stabilize the properties. I thought it was best to sell at first, but now I'm glad I didn't.  I talked to a lawyer and set up a living trust. Also confirmed that insurance and taxes were paid to date.

Living out of state, I found a property manager and proceeded to clean house. We had some deferred maintenance and rehabbed 8 units and upped the rent in all of them. We evicted 10 inherited tenants and replaced them with new screened tenants with new leases.They are 100% rented and cash flowing nicely. 

@Account Closed This is not going to be easy and will take some time to stabilize your properties. Be patient and take a deep breath.