All Forum Posts by: Bill B.

If he didn’t have a will. Ask the grandparents if they want ANYTHING that’s in the unit. Tell them you’ll arrange for anything useful left behind to be donated and the rest disposed of and ask them if that’s ok. Get it in writing. You do not want parents with a dead child suing you for throwing away their final memories. 

As mentioned. As long as you’re willing to lose everything except your primary home and retirement accounts you’ll be fine.  You could lose all the Properties to a single personal injury claim at one of them. It doesn’t even matter if they are in seperate LLCs. You will be sued personally, and you own the LLCs, so everything is at risk. Imagine one of those natural gas explosions that levels the entire house. 

If insurance is really that big a deal you’d be better of doing a 1031 exchange and moving to a market where insurance is cheap, get cheap property tax and no income tax at the same time. With 500/500k insurance and only a $2,500-$5,000 deductible I pay less than $1,000/yr on $400-$700k Nevada properties. The property tax is closer to $2,400/yr but there’s no state incime tax. 

Good strategy as long as you're not working for that LLC or you're going to get sued personally as well.

That separation of liability is one of the reasons I hired a PM. Along with avoiding discrimination claims, higher late fee collection, a list of vendors that want to make them happy, and faster rent increases. 

@Dave Foster ???

Yes. It w\probably wouldn’t hurt to make new users self-verify with a phone number or something. 

For me many of the problems fall in to a couple categories. 

“New members” (joined that day or at least first post.) jump on and say hey I took Joe blow’s course and it’s great, he’s a link, well worth the money. And then 3 or 4 replies come within an hour from other first posters saying yeah, they agree, it is great. 

Or people that joined that day and say so something like. I know nobody on BP likes “this…” but what if I did it this way. Showing they’ve obviously been on the site a long time and just made a new account to post it. 

Maybe also an introductory email/text. While also verifying their info, and that it’s unique, tells them about the magnifying glass to search topics. Then we wouldn’t get the solar on rentals, home warranty on rentals, best market for rental arbitrage, which accounting software questions and what do with $X’s asked over and over. By someone that couldn’t be bothered or didn’t know how to search the forums. 

There is so much value in time and money given by those 10-20 people that answer all these questions. We should respect that while we’re trying to encourage new users. So many people save 10’s of hours, hundreds in fees and thousands upon thousands of dollars because someone reached out and solved a problem, for nothing. To me, that’s the value of BP. I have gotten better free advice here than advice I’ve paid for. And I wouldn’t have ever found the person giving that advice without BP. 

Nope. But it would make it harder to have 3 sales within that 45 or 180 limit instead of 2. Make sure it’s worth it. 

“Luckily”. It sounds like their quoted law/rule/regulation isn’t a violation you are making. They specifically say refusing to provide insurance is a violation. You aren’t the one failing to provide insurance. Let them sue the insurance company. I assume they’ve won before, they’ll win this time for the first time, or they’ll have to change their policy. 

id provide them with your insurance contact and let them fight it out. I don’t know if you can move on to new tenants during the process. 

ps they aren’t failing to provide insurance because of the handicap. They are choosing not to provide insurance because the specific “tool” they chose to treat their “handicap.”  If I choose stadium speakers for my tv or stereo to combat my hearing loss instead of hearing aids or headphones could you say no? I’m doing it because of my handicap. 

pps. Every google answer seems to say they can’t deny them. But maybe they need to hear from tenants lawyer. Maybe lease MTM incase animal becomes a problem or rents need to be increased. Good luck. 

let us know what happens. 

Nope. Because you filed jointly. All the irs cares about is that it’s the same tax payer. Because you pay together before and after you remain the same tax payer. IMHO. :-). 

Can you do anything about the IMHO subpar curb appeal?

It looks like a vertical container home from the street with one tiny window cut in. 

Either more windows, a bigger window, or different material/color on the inset? Can you remove the inset?

If the numbers check out. Everything else sounds bold/good. Well done. 

I was going to say the same thing. My title company provided it the last and only time I did seller financing.