All Forum Posts by: Erick Chavarria

@Chris Lounsbury Thanks 

@Eric Teran Thanks for you response. I'm planning on doing only part of the basement  so alll mechanical stuff will on the other end of the basement. I only want the additional bedroom no separate unit

@Aaron Inman yes the basement has two windows plus a full backdoor entrance. In your experience what curveballs could I expect?

I have a rental property that would benefit from an additional bedroom. The basement is currently 6'3" high. How complicated is it to dig another 12-18 inches in a section of the basement to be able to build a 3rd legal bedroom? The basement already has a back door plus two large windows.

Do I need to get a permit? 

Do I need to hire an Engineer or is this something a contractor can easily do without much complication? 

Basement doesn't have a sump pump, do I need to put one in? 

Thanks in advance for you help! 

I haven't heard of anyone else. I'm looking for a servicer that works with non-family owner financed loans 

Thanks @Katie L. @Account Closed Just talked to my accountant and she basically said what Katie Lepore said. Thank you all so much for your replies!! 

Hi BP family, 

So I live in California and want to buy property in Maryland, (buy, rehab and hold). Will it have a tax impact if my LLC is registered in CA and doing business in MD versus having it registered in MD where the properties are?

A fellow investor I spoke to said that aside from filing fees it makes no difference. According to him: Legally: if the LLC gets sued Maryland laws would apply because that's where the lawsuit would be whether the LLC was formed in MD or CA.

Tax-wise: He says since it's a passthrough entity  I will have to pay California income taxes either way since that's where I reside. Also, MD taxes will have to be filed in either scenario because that's where the investment properties are located. 

Do yo guys agree? any thoughts will be greatly appreciated. 

Hi Ellis, is this property still available? if so do you think it will qualify for financing ? are there more pics?

@Drew M.Thanks for your reply. Its my insurance paying for the hotel.

@Scott Anderson Thanks!

@Kyle J.Thanks! 

Hi BP fam, 

My property was badly damaged by a storm; roof got destroyed, drywall, ceilings. I'm now looking at 6 weeks worth of repairs being paid for by the insurance company. The insurance company put tenants up in a hotel. End of the month is coming up: Should I expect tenants to pay rent while  staying in a hotel? Am I expected to loose rent for the month they're at a hotel? Tenant's are 2 single guys, no kids.