All Forum Posts by: Ricardo Hernandez

@Jon Kelly, Thanks for the advise.  I do have that information you mentioned above.  I have texted them, and sent them the form of non-renewal of lease via email, and certified mail. I will see if they are ok with providing their driver license via scanned picture in an email. If not, then it probably will be ok as you mentioned above.  Thanks again to all who have provided advise.  This helps when you are new to this business. Bigger pockets is a great resource.

ah, so just the driver's license.  Anything else I should ask in terms of further documentation?

Thanks for the replies.  I have the names, and phone numbers, as well as rent amounts being paid, and the deposit for one unit. The tenants in the other unit did not put down a deposit, but were doing some work around the property, like lawn mowing and such. I also sent them the form to put down their address where they will live next, in case there is need for correspondence for whatever reason.   Some people I know that have some knowledge in real estate were mentioning to me that I needed more info than this, but since I have no prior experience I am not sure what other information, aside from these things, I should also have. 

Hello,

I am brand new at the real estate business, and just bought my first property, a duplex, and received prorated rents during closing for this month of March.  One of the tenants will vacate on beginning of May, so will only have to pay me for April.  I do not have more information on the tenant than just the name and phone number.  My question is: Should I ask for additional information (which ever that information should be), which I did not receive from the prior landlord about the tenants, even though they will only give one more month of payment?  

Thanks for the advise.  I will research local banks and see what they offer. 

I see.  Interesting that they are mortgage banks.  I actually just called capital one and cannot open the account over the phone, and it has to be in a branch, but I am not going to travel to do that.  
I was looking at Novo banking, which was actually promoted in one of the bigger pockets podcasts. Any have experience with this entity?

Thanks.  Appreciate the response.

Hello.  I am new to real estate investing, and had a question about banking for my business.  Does it matter if the bank I use does not have branches in the state I am in?  I already have a personal Capital one 360 account, and thought to open a business checking and savings account with them, but they do not have branches in Missouri. I am not certain if this matters or not. Thanks for any information you can provide.