All Forum Posts by: Vlad Taralunga

Was contemplating this business idea and was wondering if property managers would find it interesting. One of the problems with sites like Rentometer is that it only collects rent data from public websites. That is just a slither of the rent data for a particular area (same problem as MLS rent statistics). Property managers are the ones that know best the rental data in an area based on the potential thousands of units that they manage and that a lot of time they renew without posting a listing anywhere.

So my question is: would you share your rental data (1 button click integration with the major property management software platforms like RentManager, AppFolio etc) in return for some sort of revenue sharing? I was thinking the data would get deidentified as well (if someone searches for rents in a particular area it would just tell them 2 bedrooms withing 4 miles rent for a min max average, without revealing any actual addresses). In exchange for sharing your data, you could either get an upfront fixed fee or a small fee every time your data is included in a query by a user of the service.

Does this sound even remotely interesting? Would be curious to discuss further.

@Michael Plaks Got it. For the most part, we are 3 investors that are pooling their funds together to purchase 2 properties (and hopefully more in the future). Everyone is contributing financially. We are just doing investor 1 buys property A etc. because that's the only way to have a single name on the mortgage (i.e. if investor 3 would contribute off the bat on property A then both investors 1 and 3 would have their names on the mortgage). We were thinking that after investor 1 successfully purchases property A and investor 2 successfully purchases property B to settle everything financially as part of moving the titles into the LLCs and writing their operating agreements. Later on investor 3 is basically up for purchasing the next property in their personal name, then keep rotating.

@Michael Plaks Thank you for answering my question. What setup would you advise in our scenario?

@Denice S. Yes we are aware of the due on sale clause.

Hi all,

I have a pretty specific question. I have 2 investor friends and the 3 of us currently in the process of purchasing 2 properties, 2 quads. In the interest of having the smallest number of people on mortgages and getting the best interest rates, we were thinking of a single partner buying each property, then transferring it into an individual LLC that would be jointly owned by all 3 partners. So partner 1 buys property A in their personal name with a residential mortage then puts it into LLC A, partner 2 buys property B in their personal name with a residential mortgage then puts it in LLC B, then partners 1, 2, 3 are equal owners in both LLC A and LLC B.

The question is with this structure would we be able to claim mortgage interest as an expense in each LLC if the mortgages are in the personal names of just one of the partners.

I would appreciate direct answers to the question. Please no why do you need to put it into an LLC, why do you need 2 LLCs, why do you need partners, why don't you get commercial loans etc.

Thank you in advance.