All Forum Posts by: Morgan Nandin

My father recently asked for my help to help him stay "organized" with his rentals.  He has 6 units.  We flipped a house together 2 years ago and I was in control of budget and all book keeping.  I have showed him the Rent Redi app and he would like me to use/run the app with his rental properties because he is not tech savy.  I am not an owner of these properties but I would be helping him manage them.  I know in NY you need to be a licensed broker to be a property manager but I would not be showing the property, I am more of a secretary I guess but it would be through my bigger pockets pro account and rent redi account.

I want to make sure we are not breaking any laws with me helping him out.  Any advice would be appreciated!

(The goal of this is to obviously help him stay organized but I am eventually going to buy these properties off of him or he is going to put them in a trust.  This is helping me gain more experience as well while I am looking to purchase my own rentals)

I am beginning my REI journey and have 1 flip under my belt but my goal is to have some rental properties. There is a property for sale that I drive by everyday and I am not sure if it's worth diving into/if it could be a good deal. I don't have a ton of information but here is what I do have.

listed 350k-On the Main Street of town.  4 buildings on the lot.  First building has a deli/convenient store below and 2 apartments above. 2 single family homes behind and a large 2 story garage.  Rent right now is apparently low and bringing in $3800 with potential for more. Have only been in the store below and it is in good shape and the other units seem to be in good shape.  Some work needed on the 2 homes behind and garage. 

Any advice at all would be really appreciated on if it’s worth looking into/next steps. Closing on my flip early August and will have some funds for a 1031 exchange

Thanks!