All Forum Posts by: Meridith Wardle

Hi Michael (I think we met at BPCon?), 

Trace amount here in Red Wing as well. When we have guests we have our snow removal service go over and plow/shovel for 3/4 inch or more. He spreads salt, but we also keep salt in the garage of the STR with a scoop so guests can spread it. Hope that helps!

Meridith

Hi Jamie, I'm also coming alone and would love to connect.  I'm staying at the Marriott right around the corner from the Residence Inn.  I'll shoot you a PM...

Meridith

I'm in Minnesota and the laws & regulations vary by state. That being said...I had an investment property that was in my name. I wanted to take out a HELOC (with a local credit union using a commercial lending product) and during that process the lender worked with the title company to re-title the property into my LLC. It was pretty simple. I got the HELOC and bought another 1 or 2 properties with it.

I like Brian Murray & Brandon Turner's Vol II of their Multifamily series...

I'd start with 'The Book on Managing Rental Properties' by Heather & Brandon Turner.

I used to just keep books in Excel but have switched to QuickBooks, which was recommended to me by my CPA.  I've been extremely happy with the switch!  You might talk to your CPA and see what they recommend.  Good luck and congrats!

I had a tenant like this last year.  He was a recent college grad, good job, but had never utilized credit.  I use Avail for screening and I called them; they process applications slightly differently for someone with 'thin' credit.  They were able to do all their checks, verify income, verify past rental history, and he signed a lease with me.  I've had no problems with him.

Those fees seem pretty high when you're putting 20% down and have a stellar credit score...I'd either pay cash for the property and pull the cash out after you rehab/rent it; or call around to some local banks/credit unions to see what they can offer.  Good luck!