All Forum Posts by: Sameer Raina

agree with joe moore. i use zillow and craigslist for generating leads and rentapplication.net ($40 for full scale checking) for tenant screening. my logic is that if a tenant cannot submit a strong application, they will not spend $40..so it is self selecting in a lot of ways. also, i share all possible information about the property, so that i get candidates that are well aware of what they are getting into. no nasty surprises. also, it is the right thing to do...at least for my business.

it depends on what your objective and strategy is. certainly, it is not a "required" first step. from a tax perspective, it does not make a difference whether you have an LLC or not. For asset protection, it is helpful to set up an LLC only if you run it correctly. Also, there are operating costs for creating and running LLC's. Agree with other posts - there are many posts on BP about setting up LLC's etc. my two cents is spend your time in evaluating deals and refining your strategy. LLC's can come later.

We (@Shefali R. and I) had planned to attend this event but will now longer be able to make it. Sorry to miss this. Look forward to attending the next one. Thanks

thanks bruce. will call them today.

Hi folks - need some advise. I recently purchased 2 rental properties in condominiums in Essex County, New Jersey. Both properties will be tenant occupied from April 1. My problem is that i cannot find an insurance carrier for Landlord Insurance. I have spoken to about 10 insurance companies and all of them have declined to provide a quote for "investment properties that are in condominiums and are under a 2 member LLC". Most agents do not know why...they just say it is company policy.

Can someone shed light on the logic behind this? i cant seem to figure it out.  How should i approach this? Any recommendations on insurance agents that handle this type of transaction will be most appreciated as well.

Thanks.