All Forum Posts by: Annie Bollini

Hi - Would appreciate some advice. 

I bought a fully renovated townhouse, tenants moved in, 6 months ago I saw an ashtray, tenant said she smoked in the basement when it snowed. I wrote/talked to her that in the lease she cannot smoke in the house or would be evicted. She said she would not smoke again. 

A handyman yesterday told me the place smells like someone has smoked. (I will go there in the next day or so to check for myself.) If there are no visible signs of smoking (ash tray, etc) do I have to prove they smoked recently/how do I prove it if I want to evict/tell them to leave?

Thanks

@Calvena Jordan I originally posted this. I felt the same way; it was astounding. But, I think we are all seeking knowledge and trying things so it's good we took action and tried. I hope you don't continue to feel silly! We just all need to stay away from those gimmicky seminars. I don't go to them anymore. Thanks for adding to the post.

@Scott Smith This is most helpful, thank you. I will read these. I've read a decent amount about LLCs and want to set it up and manage it correctly. I'll definitely work with an attorney the first time. I might follow-up with specific questions. Thanks again!

@Marc Winter Thanks for the helpful answers! Will offer in her name and sign/reissue to the LLC.

We are clear her responsibility for the mortgage. 

Will work with an attorney but thought it might be helpful to see someone else's document to generate ideas and discussion before meeting with an attorney. 

We have other property separately (not in an LLC) and think an LLC makes sense from the start rather than transferring later.

Thanks again.

Hi - I'm setting up an LLC with a friend partner and looking at multiunit residentials in Maryland. I've looked at the forum posts on LLCs and do not see answers to these very basic questions. One potentially relevant detail is that my partner will secure the loan (not commercial b/c 4 units or fewer) in her name.

Once we set up the LLC, do we write the offer using the LLC?

Once we purchase, do we use a quitclaim deed (since the loan would be in her name) to sign the deed over to the LLC?

Do we get insurance in the LLC name?

Can anyone share their Articles of Incorporation or refer me to a good example? Want to be sure ours is solid.

Thanks for any advice.

Annie

My understanding/memory is that you get access to their tools (trainings, calculators, etc.) for 1 year but not their inventory. 

Thanks for all of these posts to my question! Good questions and insights. I attended the 3-day training. As 

@Adrienne Medina said, there were a few hours of useful info. But, the entire first day was dedicated to making a case (full psychological tactics) for why we needed to spend $39K (not $34K for us) to buy their system so we can stop being inactive and one day be able to retire. The 2nd afternoon we talked about details for tax liens/deeds but not enough to be able to leave there and execute. I skipped the 3rd day. I would not participate again if given the chance but I'm glad I took a chance and tried just in case...

@Adrienne Medina Thanks! Wish it were all on the first day! And I want "How to..." Glad you got some useful info.

@Adrienne Medina A lot of people bought in. Thanks for doing deeper digging to make that connection. I saw posts from over a year ago in the forum on the buyers club. So, 8 hours of useful information sounds good. Is it on a particular day, maybe Friday, or spread across the days? Thanks!

These are helpful comments. Sounds like I should go to the training and learn what I can about the process but not buy what they are selling. I'll report back after and I'm sure will have some more questions. Thank you all for the comments  so far...