All Forum Posts by: Leah Stuever

Yes you should tell any agent what your goals are. 

I am not sure what you are wanting to do? Agents send you properties and you decide if you want to make an offer or not. Using the agent to make the offer. That is how the agent gets paid. 

Are you wanting to use their passwords to get on the MLS? Because that is a licensing violation and could get them to lose their license very quickly.

You list on zillow or any other rental websites that you want. 

You use a background check website like rentprep to do a background check. 

You likely want to read your local landlord tenant laws so you know what you can and cannot due for screening a tenant. 

Your lease needs to specify the room and that the other parts of the home are shared. 

Just know that renting individual rooms is a lot of headache. Roommates arguing. 

You have two choices: force her to stay in the lease. If she really cannot afford it, she will just stop paying and you will end up evicting. 

Or you let her out and find a new tenant. 

@Karina Villamar I have not. It is not a bad way to get some capital and learn the market but takes a lot of personality and time to find and lock up those deals. Finding someone willing to let you shadow them is the best way to learn

Should you co-mingle your funds? No. If something happens legally in one area it will effect both areas. Any lawsuits can include funds and property owned by the company. 

Banks may also be concerned about co-mingling and odd ways that your company is making money that are inconsistent or abnormal. 

Companies that misclassify employees face a lot of legal and tax problems and those will easily bleed over to you if you are misclassified. Check out the IRS website on employee classification to make sure everything is above board. 

There are many different ways of doing it. We managed our own rentals from out of state. Did a drive by once a year when we flew out (tax write off trip). Paid a real estate agent to find new renters when needed but other than that managed everything. It was not difficult really. 

You can also pay a property manager. It is 8-10% of the monthly rent. So calculate that into your numbers. But then it is really 90% hands off. I would recommend checking on the property in some way regularly. Or paying a home inspector every few years to make sure everything is good and catch and big problems before they happen. 

It really is all about finding a good agent in another state and a good property management company

hhahahaha. Sorry. But it is funny. You have to have a lot of capital to start in San Fran. 

Why not check out other markets? I am an agent and investor in DFW. You can get a lot more out here then you can get in Cali. I was investing in DFW when I lived in Cali, before moving out here. 

Owner Finance may be the way to go. 

What types of lenders have you talked to? Big banks? small banks? mortgage companies?

Employers cannot choose how they pay you. If you are an employee by definition they have to pay you via W2/paystub. If you are an independent contractor they have to pay you via 1099