All Forum Posts by: Toby Gingold

@Dennis Canon @Samuel Lynch 

Do you still have those examples?

@Alan G. 

That makes sense, I would like to streamline everything, I will look into Quickbooks. Also saw Brandon Turner offers an excel from his property management book which I am going to look at as well. Will DM you for any other questions, always like learning other peoples systems / structures. I appreciate your response! 

thanks Larry

Hi All, I am in the process of closing on two SFR's in upstate NY. I am putting them under the same LLC. I was wondering if I could get some advice about the following:

1) How should I set up bank accounts for these? 

2) Does anyone know if it is possible to set up two checking accounts under a business checking/savings with my LLC?

3) I have an existing LLC, I used Chase to open my business LLC and checking, but should I go to a local bank that is closer to the properties or does that matter?

I imagine having separate checking accounts for each property so that all income and expenses are tied to each property to make taxes easier, expense/repair tracking etc. There will be no mortgage or hoa expenses so I won't have much need for auto-payments I would think. Then have one savings account where the security deposits are held for each property. Curious to see how others have structured this with 2 properties that are under the same LLC.

Any advice would be appreciated on this, thanks experts!

Hi all, I was wondering if there were any other platforms like RealtyShares out there? I was listening to an old podcast and it sounded like a great service but when I went to register I got the message below. Was curious if anyone knew of any other trustworthy platforms, reviews all over BP were positive for RS. Thanks 

Thank you for your interest in RealtyShares.

At this time, we are no longer accepting new investors on our platform. 

Success Story Spotlight! 

Next stop bigger pockets podcast! 

Congrats man, well deserved! 

I too am seeking a good referral for the Troy area - any recommendations would be greatly appreciated! I was looking into Empire Real Estate Property Management - does anyone have experience working with them?

Thanks Darryl, I've read that Austin is one of the best markets to buy in at the moment as a safe bet for a rental property because of its job growth. Do you know anyone in the area who has experience investing or would have advice to share?

Hi all, I'm a new member who has just started the process of looking into investment properties to buy. I currently live in New York City and I have been licensed for 4 years as a real estate agent, working in luxury rental buildings as a Leasing Agent. I am very familiar with rentals but not so much with the sales side of the business. Ideally I would like to purchase a property and rent it out. 

I know I can get a lot more bang for my buck in other states either purchasing a single family or small multifamily property. I am in no rush but I have saved a lot of my money and I am ready to invest in the right property. I'm reading up on anything I can and educating myself to the best of my ability during my downtime at work. I signed up for BiggerPockets hoping to get advice from anyone who has experience with investment properties. I would love to hear what you have to say and wondering pitfalls/benefits to purchasing in another state. Any thoughts on areas I should focus on, general advice, things to look out for getting mortgages out of state etc. would all be of help. Looking forward to connecting!