All Forum Posts by: Corey Demuth

Thanks a lot guys, I appreciate the help. Lease runner looks good, are there any other services that offer both online payment and tenant screening services? It looks like it's $42 to get the full screening from Lease Runner which seems a bit high.

Also, I'd be curious to find out if any/most/all of these services have insurance and guarantees in case they have a data breach... Could be a way to get sued by the tenant down the road... These massive hacks to steal personal data have become disturbingly common recently.

I have been reading a lot about of posts lately where people are saying they get payments from their tenants online rather than having them mail a check.

Obviously that sounds ideal but how do you set it up? Are there companies that provide this as a service or do you arrange it through your bank? Can you do this without having a company/LLC?

If you want to search MLS leads, I prefer realtor.com or redfin.com (if they serve your area) over zillow.

I would think hard before jumping right into 4+... In many areas 5 units is the cutoff for extra rules like rent regulation. You will have to deal with commercial financing as others have mentioned. If you get screwed on your first deal it could be life-changing versus getting screwed on a 2-family probably won't bankrupt you. Just some things to consider...

I'd like to hear about this as well.

Interesting. Those both look different from the ones I have, which look like this:

Do they work differently?

Where do you buy LED light bulbs? I tried these out about a year ago and they are simply put, AMAZING. If you aren't using these in your home, stop what you are doing and go buy them right now.

CFL bulbs give off terrible light. LED light bulbs are incredible, in my opinion the same as or even better than, the old school incandescent ones.

I got mine at a special sale (I think it was at a Home Depot) a while back, they were something like $8 or $10 each. They are Philips, high quality ones.

But when I have looked online they are pretty expensive, like $20 each which adds up fast. Where have you guys found them for a steal, and what brands have you had good luck with? I really like the Philips ones I have.

No, that's helpful but it's not the one I'm thinking of...

I remember a thread or blog post or something on here where someone was listing all the things they do in their rentals as preventative maintenance but I can't findit now!

I distinctly remember there were things they did with the hot water heaters, and they were advocating replacing the rubber hoses on appliances that use water (such as dishwasher, washing machine, etc) with some kind of metal hoses that are virtually indestructible.

There was a goldmine of information about good preventative maintenance steps for rental houses... Does anyone know what I'm talking about and where to find it? I can't seem to find it myself, I swear I thought I had it bookmarked...

Anybody?

Rod, my question is not about the fee to set up and maintain an LLC (or multiple LLCs,) but rather the cost and feasibility of acquiring properties in one. Do you use commercial financing for all of your properties? Did you start out that way? In my experience, commercial loans castrate a lot of deals. I also don't love the idea of being completely vulnerable to rising interest rates (most if not all commercial loans seem to reset every 5 years.)