Rita Lo
How to organize finances when renting property
Hi,
Just starting out as a landlord (with a single property), and wondering what the best way to set up finances is. I currently operate out of my personal bank account, but was told it's a good option to set up a se...
Lewen Ninemire
Incentivize tenant to move out on month to month lease
Hi, I am closing on my first duplex on Friday! My family and I are moving into one side that has a tenant that is month to month. We are planning on giving her an official notice, I have already spoken with the tenant...
Kyle Nigro
Comingling funds with LLC
Hi everyone,This year I purchased my 2nd and 3rd rental properties in the STL area. I had a SFH in the area already, which is under an LLC. I have not created an LLC for the other two properties. I have been collec...
Jeff Caldwell
Setting up accounting on my first rental
Just closed on my first (turnkey) rental property and I realize it may not be a good idea to have all my deposits and expenses related to this house going into and out of my personal checking account.Any ideas on how ...
Gerard Leeson
Tenant left a destroyed unit and dont know where to start
I had a tenant move out after 5 years and they left the place a complete mess. I am wondering where I should start and if I should possibly hire a contractor. There needs to be a massive cleaning of the unit it looks ...
Kathy Moser
Landlord Requesting W-9
Hey Real Estate Mavens,I'm hoping to buy the house I am renting this year or next. My landlord just sent me a lease renewal and included a W-9 Request for Taxpayer ID. I've never had this request before. I understa...
Bradley Lemen
What is better a Personal or Business checking for rental income?
I'm putting in an offer for my first ever Duplex this month and I have been fully catching up on laws, fees, security deposits, etc but I can't seem to come around the correct article to help me make the correct choic...
Angelina Ng
How do you organize your properties
Hi everyone,
I bought My first property in July and plan on buying another property by the end of the year. I was wondering how everyone else organize their property on the administrative level. Since I have only one...
Josh Trup
Advice on Finance setup for first rental property Duplex
Hello all,
In the middle of acquiring my first rental duplex in Ohio as an OOS investor. I have two major questions.
Should I open an LLC for it?Should I open a new checking and savings for it? (mostly what ive read...
Freeman Schultz
Calculating the rent deposit when raising the rent
How do you calculate the rent deposit when you have raised the rent. Let's say you do a lease renewal for a tenant and you raise the rent by 10%. Is the tenant required to provide that 10% to the rent deposit?