All Forum Posts by: Bellman Tumasang

@Nick Schultz what do you mean by converting a 4/1 into a 3/2? Does that refer to bedrooms etc?

@Christian D. I suggest you keep your home and rent it out to provide you with a second income source.

I am 17 turning 18 in May. How can I start building my credit score when I turn 18 as eventually I want to borrow money to invest in real estate.

I’ve done research and found out that things like paying off credit cards and paying rent on time can boost it. By the way I’m in the UK living in London.

I’m thinking about signing up to Experian when I’m 18 to check my score. The thing is I have debit cards but not a credit card as I’m not yet 18 so do I have a credit score? Is it free and simple to check my score?

I am doing A-Levels and am in my last year. A-Levels are 2 years in the UK. I am planning to attend Sheffield Hallam University in September as I have got a conditional offer there (min 112 UCAS points which can be achieved by a BBC roughly)

I have applied for a student loan and am going to open a new student bank account soon to take advantage of the interest free overdraft and other features which may help me in building my credit score.

Any suggestions?

Just to confirm ‘rent control’ is when governments fix rents in a market at certain prices so housing is affordable and landlords don’t take advantage.

For example, a tenant on rent control may have rent for $500 and the landlord cannot raise it etc?

What software is good for collecting rents and it’s features?

Buildium? TellUs? Cozy? Etc

Question 1) Which ones let's each property have its own bank account to receive rent? Let's say I have Property A and B in separate companies say Property A LLC and Property B LLC which software let's me pay rents from Property A to the checking account of Property A LLC and rents from Property B to the checking account of Property B LLC etc?

Question 2) Which software grants access to owners, property managers and tenants and not just property managers and tenants so everyone is involved etc?

Question 3) Website and mobile app?

Question 4) Screening, credit checks etc?

Question 5) Suitable for small units (0-50)/ small landlord or large landlord let’s say 1000+/ some huge multinational property company? If you have a huge team in your company let’s say hundreds or thousands of employees how can many use the system?

Question 6) Accounting? How long till you receive rents in your account?

If you decide to answer please write the question number then answer please. I know it’s a lot of questions but you I’m still on the learning curve and will rather be safe than sorry to minimise simple mistakes when I do buy my first deal?

Thanks for responses in advance 👍🙏 feel free to message me so we can talk and perhaps connect and network in the future. My DM’s are open.

What software is good for collecting rents and it’s features?

Buildium? TellUs? Cozy? Etc

Question 1) Which ones let's each property have its own bank account to receive rent? Let's say I have Property A and B in separate companies say Property A LLC and Property B LLC which software let's me pay rents from Property A to the checking account of Property A LLC and rents from Property B to the checking account of Property B LLC etc?

Question 2) Which software grants access to owners, property managers and tenants and not just property managers and tenants so everyone is involved etc?

Question 3) Website and mobile app?

Question 4) Screening, credit checks etc?

Question 5) Suitable for small units (0-50)/ small landlord or large landlord let’s say 1000+/ some huge multinational property company? If you have a huge team in your company let’s say hundreds or thousands of employees how can many use the system?

Question 6) Accounting? How long till you receive rents in your account?

If you decide to answer please write the question number then answer please. I know it’s a lot of questions but you I’m still on the learning curve and will rather be safe than sorry to minimise simple mistakes when I do buy my first deal?

Thanks for responses in advance 👍🙏 feel free to message me so we can talk and perhaps connect and network in the future. My DM’s are open.

@Dennis M. I’m assuming you love your tenants on the 1st of every month because that’s when they pay you.

For those who invest in multifamily apartment buildings was your first ever deal an apartment building big or small or did you start with a single family property?

I want to invest in multifamily apartment buildings and eventually form a real estate private equity firm to raise firms to invest with others but I’ll start with my own money to build a track record.

Should my first deal be a small apartment building such as 10+ units. Obviously I’ll start reading book, networking and doing extensive research before diving out.

Financing? Could I close in a single property LLC with no personal guarantee and a property backed loan if I avoid traditional banks and use commercial lenders? If so any examples, have you done this before?

I have some may questions I can’t even think of all of them could you please tell me your experiences when starting out like learning, networking, structuring your business entities and bank accounts, your first deal and how you financed it etc?

@Bellman Tumasang

@Alina Trigub and other experts anyone please tag them if you know any experts to help answer my question please I deeply appreciate it. Thanks.

How do you message brokers and convince them to add you to their email deals and help you look for deals that fit your criteria?

How would they take you seriously? Or do they just add anyone to their email list as it doesn’t cost them and it maximises their chances of a sale and commission?

Any tips as I believe it is the best way to find good deals.