All Forum Posts by: Tulan Kantesaria

 what is the name of the book. I just got my first rental property in sep and got tenants in there. Now hoping to get a small flipper next year and want to get started on studying. my plan is to get a contractor do everything rather than sourcing things myself. Might be bit expensive then me doing it but for first time think it is best way to go even if I make a small amount than a big amount.

Hello all

Is there a good website to get some forms for renting out unit like a credit application , move in checklist and move out checklist for damages , inspection agreement of the unit , eviction letter template , late fee template etc.

@Greg Schow yeah we closed it with Entreprise bank.

thank you all for replying

@Stephanie Medellin we are willing to put upto 30% percent down 

@Stephanie P. yeah the condo community is more than 50% owned by investors for rental purposes. 

We did find a bank doing a non warrant loan for 5.75% with 20% down. We are still going to put more downpayment but did find a bank so that was a good thing.

Can i ask you quick question. We are buying mortgage but our property is in a condo association with 50% or more investor owned condos. So i guess it does not come under faanie or freedie guidelines

would you have any suggestion regarding any bank lenders that do non warrantable loans in the boston area or for that matter anyone? 

@Matt Motil exactly what i was thinking since in my last business which was a franchise we did same thing where we got the K1 for tax purposes. Wanted to make sure that would be a good strategy for this kind of business  as well.

@Matt Motil understood then will use it as a regular LLC instead of setting up as S corp. Just a titbit i forgot to mention is that it is a partnership with my brother so does that make a difference since it will be set up as partnership if i am not mistaken.

should have mentioned it before.

@Ashish Acharya @Matt Motil

at this point this is our first rental and nowhere close to making $40k in rental income. More like $4k or little more.

So Just a standard LLC should be fine.?

@Tom Bertz

thank for quick reply. It is a partnership between myself and my brother so as you mentioned and what i was thinking it will be setup as partnership 

@Mike Dorneman

Are you sole owner or partnership in your real estate business ? I dont think i can do what you doing in partnership can i ?