All Forum Posts by: Bonnie Y.

@Lisa S.@Ozzy Sirimsi, thank you both. I will reach out to them.

Would appreciate some advice and tips for inspector and PM in this market. Thank you.

Hello everyone, I'm new to RE investing. I have two cpa telling different things on this--if I I don't take income out of my llc account, do I have to pay tax on it when I do personal income tax?  One cpa says yes, u must. The other says, no you dont have to, especially in ohio. Pleae share ur thpughts. Confused. Thanks a lot!

I'm new to rental property purchase and puzzled about the following. 

I'm buying pre-hab properties from different providers. Some of the providers just sell me an insurance which covers both the renovation period and the subsequent rental period while other providers ask me to buy insurance on my own. When I go find an insurance on my own, i was told I have to buy two separate insurance, one builder insurance and one for lessor risk. Some insurance company only one but not the other. It's lots of work and I was told by the provider "you have more control in this matter." 

My question is-- re one group of provider offer the insurance throughout and second group ask me to shop around, does this mean the two groups of providers are different in the nature of business, which prevents the 2nd group from being able to offer this packaged deal? I would prefer not to have to shop around for the insurance. But am I missing something by just buying the packaged deal? 

@Eliza Luna, ah too bad. Please let me know if you know of anyone willing to work with out of town investors. Thanks again!

@Eliza Luna, Hi Eliza, have you found an insurance broker that does both builder insurance and rental? Could you share? Thank you.

Thanks everyone! 

Thank you very much for your input. Here is another question--will the lease amount increase dramatically? Who is in control of the lease hike? Will the owner have the right to terminate the lease and demand the land back?

Does anyone know what percentage of properties in Baltimore is on rent ground? I understand it's "common"--does it mean we can expect over half are on rent ground? Is it vast majority or about even split? Another question is--how does it affect the property price in the long run? Properties on rent ground tend to be cheaper, and tend not to appreciate as much?

Thank you for your input.

Thank you everyone for your thoughts. Very appreciated. Someone please tell me how to @ someone on this forum? I would like acknowledge your input. When I click on a thread participant trying to @ him, I don't see an option. 

I went in at the suggestion of someone very experienced who will sell me this property. I thought the only downside is I won't be able to cash out for a year. Also there is the "extremely unlikely risk" that they will buy it back. But I didn't know they don't have to pay for what I put in for a gut renovation which I have to buy as part of the package. I'm in a bit of a shock right now...