All Forum Posts by: Timothy Romanauski

Thank you all for the information. It has answered my questions. I really appreciate your time. 

Tim

Hi there

I’m newer to bigger pockets and have been reading and listening to a lot on rental property advice. I’m looking at some single family home options in my  area of central PA. 1-2 bedroom 1k sq ft homes are what are popping up for around 200k. I have connections that I can get good renters in fairly easy.  I’m a fairly high earner with a good W2 job (>200000/year).   I have a few questions about getting my ducks in a row before I go buy rental properties.

1. financing the deal: I don't have the cash on hand to outright purchase the home but can afford over 20% down ways. What is the best strategy? Standard mortgage or are there financing options like HELOC that can work?

2. Should I purchase under an LLC or individual?

3. I’m familiar with the app STESSA but should I have some type of accountant/bookkeeper to manage the money side of things? And recommended software to help keep everything in order?

I’m sure these question make we sound really ignorant but any advice is appreciated.  I’m all for doing the work myself but if there are tools to automate some steps I’m game. If there is a post that covers this info please send me that way.  Thanks