All Forum Posts by: Brittany R.

I bought my house in my name... conventional 30 year with 25% down, non-owner occupied. After, I closed, I reached out to my title company and changed the deed to my LLC. The mortgage company knows because I made sure to tell them before I changed it..and I added my LLC to my insurance as an additional insurer. I'm in contract to purchase my 2nd rental property...it will be with a conventional 30 year loan and with 25% down again, and non-owner occupied and in my name....I will have the deed changed to my LLC after closing again too. My mortgage broker said that if I get the loan originally in my LLC's name that the interest rate will be higher...I don't want that.

@John U.- I don't mind taking it initially but, I don't want to have to collect cash down the line because I don't live near by.

@Andrew B.- Yes, I know that I can pretty much write anything into a contract. I am trying to find out if it is legal or not because I cant seem to find that answer anywhere online. 

@Issac S.- awesome @Michael H.- That's kind of what I figured...That I could put it into the lease/contract but, technically, I would still have to accept it. I'm just tired of waiting for the checks/money orders to come in the mail and I don't want to deal with cash because I live over an hour away from my properties...I really only was accept electronic payments, moving into the present time. @ Bradley M.- Very true. lol.

I currently have two section 8 tenants and I'm in contract to purchase another property where I plan on renting to Section 8 tenants. I like the program, just screen them well. Not everyone who makes low income will trash your place. My tenants take good care of my property. 

As for HAP, I like receiving my payments from them. Also, if the tenant makes less money, HAP will just pay more. 

My advice is to search this website and run the numbers for yourself. You need to decide what Cap rate You want. Everyone is different. For example, I like 5-10% cap rate but, I have seen some REI on YouTube who wont buy anything that will give him less then a 10% cap rate.

Wow. I'm going to have to steal this...maybe. lol. Thank you Wesley W. Anyone else have any comments?

I want to stop accepting cash as a form of payment for rent. I want to accept only money orders, checks, direct deposit and or electronic payment through Zelle. I've tried to find an answer online but, I can seem to find a clear answer. Can I refuse to accept cash as a form of payment on a new lease? (I'm in contract to buy my 2nd rental property and I'm trying to find out before I lease my next apartments.)