All Forum Posts by: Miller Josh

I'm I right that the bank would look significantly more favorably at me, especially being a new investor if I had a professional looking business plan? From what I could find on-line I figure it would take me at half to a full day to make my own. If you don't think it is worth the time I would be interested in your thoughts.

I now have a 4 plex and one single family rental and want to have a solid business plan to take to the bank with my goals for the next two years. Is there a place I can download a  template to save me a lot of work? I'm a buy and hold invester. Thanks!

How do I handle a security deposit in MN? Do I have to have a dedicated account? How do others do this? Thanks!

I am going from 1 tenant to 6 next month and want to be sure my rental contract is what is should be. Should I hire an attorney or could I get one from someone else? How do you guys run credit reports? How do I find out the laws concerning doing an eviction? Any help is greatly appreciated!

How do you guys handle maintenance requests from tenants? I manage my own properties and at this time have only 6 tenants but want to set up a simple system to handle these requests. Do you just have them call you? I have heard some people have requests come in online or email or is that just for large investors? I plan to keep increasing my rentals at least a few per year. Any thoughts would be great!

Thanks for all the input! Do any of you do ACH direct withdrawal? 

How do you handle maintenance requests after hours?

I am starting out and will have 6 tenants soon. I am a self-employed contractor and receive many calls during the day but I shut my phone off after hours as people have no respect of time off and I have 4 young kids that I want to spend down time with. Does anyone use a pager? How do the rest of you handle this?

I am going from 1 tenant to 6 in the next month. How do you receive payments? I am setting up a P.O. Box and will be sending an addressed return envelope with the tenants monthly bills. I do not have a place for people to drop off payments. Should I receive payments on-line? If so how do I do that or what do the rest of you do?  

Thanks for all the help!

I have recently gone from one rental to three (and one is a 4 plex) and need a better system to keep my book keeping as for as accounting goes. I am very familiar with Quick Books as I use it for my other business I have. I want a system to keep track of expenses and income from each property separately. Do any of you use Quick Books and if so how did you set it up to track each property or is there another program that is much better in this application? Thanks!