All Forum Posts by: Tyler Eastman

@Ronan Donnelly Thanks!!

@Nathan G. This helps alot! Thanks!

I recently just bought a single family house. There is currently a one car garage behind the house.

I was thinking about adding another garage beside the existing one, connecting them, and adding a garage apartment above them. I would think this would "force appreciation" and help the resale value in the future.

I dont know for sure how much it would cost to add a garage apartment such as this but I would think it would have a better return than buying a second property right away.

Is this a wise strategy or should I just look for a second rental property altogether? Which is a better strategy?

What is the best way to run a credit and background check on a prospective tenant? I have heard of a few different sites that do this but I am curious as to which is the best and most economically friendly.. 

I currently have one rental property and hoping to expand to others. 

I live in a smaller town where the market is not the greatest, therefore, I invested in a nearby town that is about 45 minutes away. If everything goes well with my first property, I am hoping to expand in that market. I currently manage my own property. 

My question is, what is the best and most efficient way to collect rent without making the drive down there to physically pick it up?

Any help would be greatly appreciated! Thanks!

Thanks John! 

I am a new real estate investor that just closed on my first single family house two days ago. I am trying to get everything in order before I start renting it out.

That being said, should I use an excel sheet to track my income and expenses or is there a better way or better software?

I want to keep my expenses as low as possible because this is my first property, therefore I need any software I use to be free or very low cost. I have heard of Stessa but have not looked into it yet..

Any help or advice would be greatly appreciated! Thanks!

We are closing on our first rental property tomorrow!!

As we acquire more rental properties and our business grows, should we put the properties under an LLC? If so, should we wait until we get multiple properties or should we do it right away after acquiring our first property?