All Forum Posts by: Ray Shum

Thanks @James Wise. Your podcast about building your business through a partnership happened to be one of the first episodes I listened to. Very insightful. 

@Jo Ballagh I have LLCs for each of my 2 properties to collect rent and pay operating expenses. And then a 3rd umbrella LLC which owns the 2 other LLCs. I recommend it as Kevin suggested for protection of your personal assets.

@Account Closed Do you also have separate accounts in each LLC for security deposits? Or just one central account that holds only security deposits but for multiple properties?

Thanks for all the welcomes! @Jonathan Pliszka so far we have a couple individual units in a high-rise building in East Lakeview.

I have a prospective tenant that is from the UK. All the standard online tenant screening services I know of are only good for people with history in the US. What do you recommend I do to properly screen this tenant?

Is there a UK online service that I plug his info into? I don't know how access-to-information laws may differ there.

Hi,

I am relatively new to real estate investing and am interested in learning more and expanding my network. I've recently purchased a couple of condo units for rental in Chicago through a partnership.

I do very well in my current day job in IT sales. I've succeeded and failed as an entrepreneur in the past. I'm happy to start earning supplemental passive income and also excited to see how much I can grow real estate into a new career.

Ray