All Forum Posts by: Jason Schwerin

Originally posted by @Dylan Tanaka:

If you haven't already found who you're looking  I have some suggestions.

 I’d take some suggestions also if possible

Thanks, Dave that's great. Do you consult an attorney or accountant, or have you been doing it all yourself? 

Good point Jacob. A DBA would be a cheaper option. I guess I should just talk to a lawyer and see what makes the most sense.

I own and manage a single-family home and a 4 plex in Metro Detroit. I own the 4 plex 50/50 with my parents and it's starting to become tedious trying to track who's putting what into the property as far as expenses and sweat equity is concerned. My parents live on the other side of the country and we've agreed that I will manage the property on behalf of all of us and I will be the public face for the tenants. My parents put up most of the money for the down payment and they're crediting 10% of the rents as equity to me each month as payment for managing the property until we reach an equal equity position. 

I have an LLC I created 2 years ago that's been sitting around doing nothing. I was thinking of having a lawyer draw up new articles for it and using it as a property management LLC to manage the 4 plex, my single family, and future homes. Since I would still be self-managing my own rentals and not managing anyone else's I don't believe I would need a real estate broker license. Seems to me it would provide a more consistent face to the tenants and would streamline income and expenses tracking and payments.

Is this a reasonable thing to do/ good idea?

Does doing this cancel out the title insurance ?

I had the same issue. My Michigan State Farm agent told me all I needed to do was tell them a family member was staying there short term and they could write me a policy based on that. Then once I get a tenant, send the new lease over to them. They said if it’s a family member they don’t need any documentation proving it, just my verbal affirmation. 

Thank you all!

Hello, I'm currently looking at different options to get my RE license and was wondering if anyone has any recommendations for where to take an online class for Michigan? I've found a variety of different schools but the prices seem to be very different and it's hard to find reviews.

Thanks for the replies. I'm currently an airline pilot and that will always be my main career so I'm not really considering full time. I'm looking at getting my license more so to increase my knowledge and to be able to check and buy properties on my own.

Will real estate brokers employee an agent who just wants the license to buy and sell investment properties for himself? Seems like a lot of places only want full-time agents.