All Forum Posts by: Jennifer Hollstein

Thank you everyone. We are close to the buildings so tenants usually drop checks off. I want to make it easier as some have made the request to do automatic deposit or withdraw. I know me personally If it is not automatic or simple to send money via my online banking it does not happen. WE bank with a local small bank here in town so we don't have chase online.

Thank you again everyone for your suggestions.

Is there a program out there that estimates the rehab costs

I am looking for something that does materials and then labor

some ideas of what I am looking for....

I can input the cost of a door (based on the type of door I want- slab, paneled,etc...) and then enter the number of doors and also calculates the door locks

If I need to do sheetrock I can enter the Length and width and height of the room and it calculates for me the sheets of rock I need to buy

If your doing tile measure room size,  I then enter the tile sq ft price and it calculates then also figures grout and even asks if you need an underlayment, same thing if it were the hardwood - what type of padding,  or are you using padding, sub floor glue, padding glue

Cabinets I put in lin ft of cabinets and it calculates a price based on a low, med, high range that may already be put in there or that I can populate myself

Appliances- check off what you need and it calculates based on low, med, high range

Bathroom upgrades- toilets, tile, vanity, tops, grab bars, towel bars, toilet paper holder. etc...

Something that has all the little items that a non professional contractors will leave out. 

Those things you leave out are what cost and throw the SOW off.

Example- I calculated the square footage for a hardwood floor but when I went to purchase  the hardwood x the sq ft price I had calculated and budgeted for I was way off. Reason I needed to add on 4 pails of glue at a little over $50. each, and then the underlayment pad necessary was another couple hundred $$. I was over budget by about $300 when all said and done. 

Does such a program exist?

Thank you 

@Jason Bott

Thank you for your help and information. Are the policies specific per state?

Thank you again

My family has an apartment complex and currently we do not have a website. I want to get a website for our complex to put useful information on there for the tenants.

One of the big things I want is for tenants to be able to do auto pay for their rents. Many of them drop off checks at our home mailbox, and I want to make it easier for them.

How do I do this? I am looking for an easy inexpensive option.

Also what are some other features and benefits my new site for the complex should have.

Link for local govt, police

garbage collection

tenant requirements for lease- credit scores and background checklist?

Thanks for your help

I have my LLC, and I have a property I am putting an offer in on to fix up and flip. What do I need in terms of insurance if any? Do I need workers Comp or anything that I have not thought about.

I am going to do some of the work on this one myself. I don't have the money to hire contractors for some of the items. Maybe in the future. Also this is not going to be a full time gig right now so I'm not afraid to get dirty. In fact my goal for the next 12 calendar year is 2 flips. Besides my dad is a contractor and my brothers are licensed electricians so I do have some qualified help.

My family has an apartment complex and currently we do not have a website. I want to get a website for our complex to put useful information on there for the tenants.

One of the big things I want is for tenants to be able to do auto pay for their rents. Many of them drop off checks at our home mailbox, and I want to make it easier for them.

How do I do this? I am looking for an easy inexpensive option.

Also what are some other features and benefits my new site for the complex should have.

Link for local govt, police

garbage collection

tenant requirements for lease- credit scores and background checklist?

Thanks for your help

I am just starting out here. I am in Northern NJ.

I have a goal within the next year to buy, renovate and sell 2 single family homes. I would also like to purchase and renovate a duplex or triplex and maintain for rent. Year two I would like to do the same with an added 2 rental units accumulated. 

I have chosen my business name, purchased the website, opened an email account, and a phone number specific for this. 

Now my question is

What type of company do I create?

Does the company have to be formed in my own state? We have the worst taxes in the nation for everything.

It was suggested to me that I should create an LLC and on the application there is an option to choose to be taxed as a S or C corporation. Choose how I am taxed.

Is there anything special I need to know or to do to accomplish this?

Who do I go to for this? lawyer, accountant, other?

Thank you in advance for your help and guidance. LLI