All Forum Posts by: Wakes Andre

I have a few paid off rental properties and I have a mortgage for my primary residence. I'm thinking to put $50K toward my mortgage to lower my payments a bit and save some money in the long run.

Could you tell me please if this the right approach? Or there are some benefits or tax deductions of having the mortgage I can take advantage of? Please let me know.

I have a few rental properties and I need some advice on how to set the process correctly. The first one I signed a contract directly with the tenant and second through the realtor.

I'm thinking to open an LLC and next year sign agreement using my LLC instead of signing as an individual. I want all transactions to go through my LLC account, like insurance, HOAs, Taxes, and other expenses, as well as income.

I have an insurance for each property, but I'm thinking of getting another policy an umbrella insurance to cover both properties and to protect my personal assets.

Could you tell me please if it's a right way of organizing rental assets or there is a better approach I should consider? Thank you in advance for any recommendations.

I'm about to renew a lease agreement with my tenant for one of my properties and I would like to include the information below.

1. In case of a hurricane warning tenant must put hurricane panels (we have panels at the property);
2. The tenant should change AC filters every month and drain AC pan as needed.

Please let me know if it's okay to add this information or not.

I have a rental property in West Palm Beach, FL area. The lease contract ends in a couple of months and the tenant would like to stay for another year. The tenant has been living there for 4 years already and I have a copy of the lease agreement signed by the previous owner. At this point, I have no real estate agent involved. 

Can I just prepare a new copy of the existing contract and ask the tenant to sign it in person or using services like DocuSign? What would you guys recommend to make it right?