L'Oreal Smith
ADVICE when seeking a contractor
Hello BP!! I am a new investor and of course I'm looking for contractors to work with. I need to know what are the right questions to ask and other things i need to look for? What are the"red flags" i need to avoid? T...
Mathew Fuller
Where do you park your rental income?
Hello BP,
I have a few questions:
First
I recently acquired my first tenant in a house a hack. Today I opened up a new checking account with my bank, and I either need to have direct deposit setup with a minimum ...
Luke Hoffman
Sell or hold- cashflow destroyed by property taxes
We own two rentals in a small town in Indiana. Property values have gone up approximately 40% in the last two years. We bought a 3bed 1 bath for 125k with a rent of 1,100. We also own a 4bed 2 bath for 137k with a ren...
Justin Capps
Who is responsible for extremely high water bill?
I manage a duplex where the owner pays for water. I received a call from the water company telling me we may have a leak because of the usage. Upon inspection at the property, we found that no lines busted but that a ...
Reyna Ayala
How many bank checking /saving accounts are needed as a first time landlord
The House is not under an llc. Just want to start setting up as if it were. so far i have thought about creating 7 accounts.1) all rental income account 2) account where common utilities and mortgage will be billed3)m...
Mikel Kaubfa
Include or not include utilities in rent.
I do not include utilities with my rentals as I find it easier to manage and less risk if prices go up or if there is excess usage. However, most rentals in my area include all utilities in their rent. Do they know so...
KC Zhang
Property Management Contract Terms
I'm in the process of hiring a property manager in IL and found some terms in one property management contract hard to agree to. I'm fairly new to owning properties in IL, and want make sure these terms reasonable pra...
Forrest Holden
Property Manager with affordable tenant placement in Minneapolis
I used to own 4 rentals in west Texas. My property manager only charged $300 for tenant placement. I understand that I probably can't get that rate in Minneapolis, but I honestly feel that a full months rent for ten...
Emy Bernardo
Shared Utilities - best way to divide costs
Hi all - we have an ADU in our single family home and have been including the cost of utilities in the ADU rent. We recently started charging our tenants a $100 flat rate to help cover some of our soaring utility cost...
Chirag Shah
Suggested Annual Maintenance
Hey all,I am an early stage investor (9 mos in the game) in Austin and Bryan/College Station. Currently owning 2 properties with 6 units (1 duplex, 1 quad).I am curious to know what types of annual maintenance I need ...