Updated over 4 years ago on . Most recent reply
Landlord App with Multiple Properties in Separate LLC's
Hello! I'm a new investor and purchased my first buy and hold property in May this year. I decided to place my property within an LLC for liability reasons. The property purchase and all rehab has gone through my LLC bank account / LLC credit card using cash I supplied as capital contribution. I plan to manage using a landlord app (currently looking at RentRedi) to help with listing, tenant screening, rent collection, maintenance requests, etc. I plan to do this for every property I purchase. When using the landlord app I'm unsure how to use for (eventually) multiple properties that will also be in their own separate LLC. I searched through the forums and it seems like the best suggestion I ran across is to create a separate LLC to function as a property management company with it's own set of financials (I understand that the "management fee" I take is considered earned income vs passive income). Are there any other suggestions? Rehab is almost complete so I'm hoping to figure out ASAP.
Thank you in advance!
Whitney