All Forum Posts by: Alpesh Parmar

@Paige Roberts if this tenant had rented a property in regular apartment building, there would have been a clause for lease break. I paid 2 months of rent as lease breakage fee 12 years ago when I had to relocate to Bay Area.

@Joanna Lenn S Corp doesn’t make sense if you are not going to have anything in that Corp except rental properties. S-Corp is for small business owners like me where majority of my income comes from the S-Corp. Flippers should use S Corp instead of an LLC as flipping is an active business. For rental properties, LLC is the way to go. I am still not sure how you will be able to write off anything if you go to S Corp or LLC if you are only going to ha e rental properties in it.

@Bill Nolan I have not heard good things a out Equity Trust and NuView IRA. When I was evaluating, I had shortlisted Quest and uDirect. After doing the research, I realized that I can open solo 401K so I didn’t go with any of the SD IRA providers.

I agree with everyone here. It's always better to get a professional heat treatment done. That's what I had to do as well. I also ordered following kits and they definitely work:

https://www.bedbugsupply.com/bed-bug-kit-1-2-rooms...

https://www.amazon.com/Vapamore-MR-100-Primo-Clean...

Originally posted by @Henry Davis:

@Alpesh Parmar

I you are to hlusehack a property, would gettIng a residential mortgage of 10%or less be okay? I live in the UK and this is what I plan to do once I leave school, because I will not have enough saved to put 20-25% down.

If you are ok with paying PMI, it would be fine. You may need to put more money down to get your offer accepted though.

@Gaurav Raj if you are not managing yourself then ask your PM.

@Ben Davis for me timely communication is the key. Whenever I had to fire PM, that was due to lack of communication. I also prefer transparency even if hey are marking up repair costs.

@Gaurav Raj you would definitely need and attorney. I would say get the locks changed and only give the keys to current tenants.

@Ernesto Correa you would need a lease, security deposit and some kind of proof of the rent being paid. The only advantage you would get is depreciation on % of your property but that could be offset by rental income. Check with your CPA.

@Rema W. Most of the insurance companies will send an inspector or ask for photos.