All Forum Posts by: Mark Delosreyes

@Rafael Martinez, we continue to grow, so we ended up just hiring a good property management company. Depending on your situation and strengths in real estate, the 10% we pay is well worth it, especially when you get a surprise, destructive, tenant. Our property management company used AppFolio, and it seems to be a good fit.

@Chuck Kohout, thanks man!  I will check them out.  

My LLC has a modest portfolio of rental properties. However, in our local market, houses are selling fairly quickly at a solid price. We are considering shifting our business to flipping houses, instead of BRRRR'ing. As an accountant, I've built in capital gains taxes in our models to figure out our net profit on potential flips. Does anyone have experience with setting up an SEP IRA in your LLC? It seems there's a contribution limit of the company's net profits. If so, does anyone contribute to these IRA's within your LLC to offset capital gains taxes? Thanks!

Thanks everyone for the helpful input.  Both my attorney and CPA said it's possible to do this, so I may give it a try on our next deal.  I will keep you posted.

@Kenneth Mooney, thanks for the reply.  I will check into that.

When I first got into real estate a few years ago, I immediately started an LLC with a partner and put all purchased rental properties under that LLC. Most of the banks we have partnerships with give us commercial mortgages (15 year amortization, 4.5% terms for instance). The LLC is also nearing our exposure limit with our most frequent lender. We are considering buying houses with our LLC and flipping them to our personal names at a fair/below market price. This would create some additional capital for our LLC with having a guaranteed buyer, eliminate realtor fees, holding costs, etc, but we would also be able to take advantage of individual mortgage terms - 30 year amortization, 3.5%, for instance, with a separate bank that we have little exposure. The 30-year would really open up cash flow, versus our commercial mortgage terms. Has any done anything like this before, and if so, what are some of the things we need to watch out for. Thanks!

Does anyone know of an app to use for scheduling tenants' maintenance requests?  We have 1-2 handymen for our 30+ properties, but we would like to explore an app that could track each open request;  then, show the task as completed.  Thanks in advance for your input.

Do any landlords send delinquent rent payments to collections?  If so, what is a good site/service to use, geared towards landlords?  Thanks!

@Roman M. - 😂😂

@CP Chou - yes, I'd love to maintain this current local bank relationship, especially since they offer 85% LTV on investment properties. The bank has been great to us, but they have told several customers the same story - slow down (we're in a small community). I also wonder if the bank is having an issue? Thanks again for the advice!