All Forum Posts by: Adam Binder

Hello, we are considering to sell a 2016 built Qualplex (2BR1.5BA each) in Murfressboro TN. All four units are tenant occupied. Like to do a For Sale by Owner, any advice welcome? What's the common practice for tenant notification of the sale? What cost should I budget for e.g. real estate contracts, closing agency (title company)?

We sold our vacant SFH investment in Michigan via For Sale by Owner last year.

BP community! Anyone has experience renting to short term rental operators, especially Domio (https://www.staydomio.com/)

We had some challenging situations with our brand new built SFH rental. For example, they left the house vacant for more than two months, and we just discovered that two HVAC compressor units were stolen. Plus, they left the window wide open during a storm. Any suggestions to deal with such challenging situations.

Thanks!

@Adam Ulm, did you find a PM in Murfreesboro? We are looking for a PM for our qualplex in Murfreesboro. Thanks! 

The TN LLC cost is pretty high according to our CPA. Suggest you take a look at the option to form LLC in a state is more cost efficient. We current have a MI LLC that we did a 1031 exchange to a property in Chatt. Our MI has much low cost.

Any recommendation for umbrella insurance policy provider / agent?

@Frank Chin, great catch on "we". It is a PLLC with my spouse. For tax purpose, we've been filing as PLLC (which is an added cost that we didn't know...rookie mistake).

@Dave Foster, thanks for the advice on lender notification! we do plan to complete the exchange under the old MI LLC. Just need to look ahead on the implications in the future. Any common practice on how long to keep the new property under MI LLC before adjusting holdings?

Hello - I'm new to posting to BiggerPockets, so please let me know if this should be posted to a different area.

We moved to TN, and have decided to close our LLC in Michigan. The last property under the Mi LLC will be sold in 10 days. We would like to do a 1031 exchange. But, what are the ramifications to consider if we eventually plan to close the Mi LLC? Specially, we will get a commercial loan for the new purchase in TN.

Thanks for any suggestions!   

I'm closing a Quad via a 30-yr conventional mortgage. Bank approved, and pasted all the requirements expect that my lender cannot find an appraiser who will take the job. 

Any recommendations for Murfreesboro, TN (Middle TN)? Thanks!