All Forum Posts by: Dave Bopp

Thanks @Sarah Brown and @Kyle J. - my tenant said that the pressure is lower with both cold and hot water. I just followed up with him and he mentioned that the toilet seemed to have less pressure too, but that the bathroom faucet didn't seem to be impacted at all. I'll try removing the shower head and faucet aerator to see if that does anything, but if you can think of anything else it might be please let me know!

Hi Everyone-

My plumber installed a new hot water heater in one of my rental properties and now the water pressure in their shower and kitchen sink are much lower than before the heater was installed. Does anyone have ideas for why this might be and a way to bring the pressure back up to its previous levels?

Thank you!

@Jeff Willis- thanks for your input Jeff. He did say he went through a tough time recently so I would imagine that likely has something to do with the decrease in credit score. The fact that he operates a rental property in another state would lead me to believe he is a responsible individual,

Hey All! 

Was hoping to get some feedback on a perspective tenant. I am in the process of screening someone who is relocating to the area from out of state for a management position with a local company. His income (which I verified with his employer) is well above the income requirement and his previous landlord said he was a good tenant. Additionally, he owns the house that he was living in before he relocated here which he is currently renting out. The concern is his credit score is currently 550. Would you lease to him based on the above criteria?

@Michael Noto- it is a cash sale. Would you say that makes a difference in the decision?

@Tom Gimer- this does seem like a conflict of interest to me as well so I’m leaning in the direction of rearranging the travel to be there for the closing.

Thank you all for you advice!

Hi everyone, I've had closing for a rental property get pushed back due to a series of inspection issues that now overlaps with me being out of town. My real estate agent is saying I can sign my HUD1 and a few other disclosures ahead of time and then he can sign for the rest of the documents at closing. What are my risks when it comes to having someone else complete the documents for me? Although I would like to think this is moving somewhat in the direction of automating my business I would like to get a sense for any risk associated with this or things I should be considering.

Any input would be much appreciated!

@John Corey- Thank you for your input, John. I don't expect to have any legality issues as the partnership would just be me and my capital partner. 

@Michael Ealy- all really helpful points to consider, Michael! I've contacted my attorney about structuring the entity further, but thought it would be helpful to get input from those who may have done something similar before. And with the refinance it would likely be in my name so I will look into that further with some local banks as well. Thanks again!

I am in the process of coordinating partnership structuring for a BRRR deal. I have a potential capital investor who is open to financing acquisition & rehab costs. I would be the general partner responsible for property acquisition, rehab management, tenant placement and property refinance.

To keep the partnership simple my proposition is to create a 50/50 equity LP in which the capital partner gets a 100% return of capital upon refinance and remaining capital left over is split 50/50 between both partners. Additionally, I would like to build in an 8% construction management fee at refi closing.

Does this seem like a simple and fair partnership structure?

Thank you!

@Casey J Burkhead- thank you for the clarification. I'll make sure I specify that to the tenant. And very good to know about the P.O. Box! Thank you.

@Jason D.- the business is registered to my personal residence which I would prefer not to disclose to the tenant if possible. My attorney told me that I couldn't file the LLC with the state having a P.O. Box as the business address. Maybe this varies state to state

When having a tenant list my LLC as an additional insured on his renter's insurance policy is it acceptable to have a P.O. Box listed for the LLC address?

Thanks!