All Forum Posts by: CJ M.

@Lam N.

Good lord man, relax I wasn't trying to imply anything. Also, I don't have a Trump sized business either. That said, if you have an LLC, your rents for the properties in the LLC should go directly into your LLC bank account..not your personal account or you could possibly "pierce the corporate veil"...which means if your business gets sued they can come after you personally.

Just trying to help, but obviously I failed at it lol

@Lam N.

Gotcha. Just keep it in mind if you start an LLC

@Lam N.

It's free for them to use, but charges the landlord a fee. Not sure if it's because I have a business account.

@Roy Meyer

Check/Money Order in the mail, Venmo (since there are no fees like CashApp), or tenant can go to my bank and deposit into account directly.

@Heidi Pareja

It was one of my contractors...so I have no ide unfortunately.

@Jayden Hamilton

I prefer unfinished basements. Plumbing, electrical, etc. are way easier to work on.

@Jonathan Diaz

It's all about systems, systems, systems. As others mentioned, there are books that will help. Also network with other LL's and contractors whenever possible. It's better to farm out the work whenever possible than you doing it yourself. I work a FT day job now and manage 27 doors on top of that with no <major> issues. Heck, I know other LL's who manage 200 doors.

@Bevan Daniels

I've had similar thoughts in the past. The best advice I can give is "stay in your lane." Who cares what others think. In my opinion the only 2 things that matter in real estate (outside of the obvious stuff like having integrity, honesty, etc.) are having fun and making money!

P.S. I do the 5am walks with audio books too!

@Melanie Stephens

Too many to count. Usually it's because I didn't act quick enough and someone else jumped on it, or because I walked away (when I shouldn't have) because seller and I were a few thousand dollars apart on purchase price.

I had this same conversation with a very seasoned REI once and he said "Don't beat yourself up, it happens even to the best of us. The nice thing is, there's always another deal around the corner."

@Kristine Norris

Self manage in the beginning. You'll learn a lot and build connections. I work a 50/hr per wk W2 job now and still self manage 25 doors. It's not easy, but doable. Just create systems and network with contractors so you have people available when something needs done.