All Forum Posts by: David Ferreras

Rehabber/Landlord here. Will try to attend tonight if schedule permits! These are always fun!

@Jeremy Aldridge

I’d like to join as well. Where is it at?

@Marcus Auerbach LOL! The yellow Ferrari bit had me bursting out laughing. In all seriousness though, thank you for the very detailed answer. To me, this is more of an irrational fear since I know I am trying to do everything correctly to code as well as not being an a-hole landlord. I have seen Brandon Turner's video on it but I just wanted to throw the question out there and see what other people have to say about it. I'll need to look into landlord liability insurance as well as the umbrella insurance policy. It sounds like those should have been done first before considering the LLC.

@Terry N. Thank you for the capital gains tax tip. I'll look into this further.

In the slip and fall scenario, where the renter slips and falls on your property causing them to pursue legal action against you, what is to stop them from suing the business (the LLC) and you (as a negligent landlord)? Wouldn't this defeat the protection purpose of the LLC that I seem to read about everywhere?

I am about to market my first rental and am in the process of opening an LLC. I plan to put that property in there to separate it from my personal assets and all of a sudden I thought of the scenario above? Any thoughts? Am I thinking about this the incorrectly? The property and the LLC that will eventually own it are in North Carolina.

Thanks in advance.

I just received a cash settlement for a roof insurance claim and am wondering if I should share the claim report with a roofing contractor? Am I losing some kind of edge if I do? A little backstory: the the claim was only made since a roofing contractor approached us and recommended we file a claim. So it seems a little a**hole-ish not to. Any thoughts?

I wonder if it would be a good idea to have some people who are in the middle of their FIRST investment property. Maybe stuff isn't going the way as planned. Brandon and David can then give them ideas on how to solve the problems? I guess it's an extended "Fire Round" for Brandon and David with the actual people there? I don't know. Just an idea.

Planning to be there tonight! Just to let people know, my wife and I are looking to buy a multifamily or a house that can potentially be house hacked as our first home. We are looking to buy within the next month. Location: Charlotte or surrounding cities. 250k loan already approved. Just thought I’d post here to give people a heads up just in case they have something. Thanks guys. You can also email me at [email protected].

Need some advice guys. I'm looking to buy my first multi-family duplex that I found on the MLS. Seller won't show inside unless an offer is made. Is this typical? I'm a new investor and not comfortable buying "sight unseen" yet. Any advice on how to proceed? All I can think of is making an offer and just putting strict contingencies just in case I don't like the property for any reason.

@Jeremy Aldridge Is this meetup still happening tomorrow?

How’s the rental market in Guam? We have a 4/2 house in Dededo we’d like to turn into a rental. We still have a mortgage on it (about $500 monthly) but doing a quick online search shows easily $1500 rent. Is it advisable to go ahead with the rental?