All Forum Posts by: Elliot Larkin

Great Nathan & Richard! Thanks!

Thank you for the information and tips. The holdover note is very important!

Hi There,

I've got an issue I haven't encountered before as a landlord, the lease is just under the girl's name. Today is the last day of the lease for a sfh I own and I got a message from the boyfriend of the girl on the lease saying, "----- and I broke up and she left. I'm running behind on the move out, I'm planning to be out by January 15th." 

Context: Property is in Florida, my mother-in-law is moving in and doesn't need to move in immediately (she is flexible), the guy who texted me is not a good apple (the only reason I rented to them is because the girl is responsible). 

I like to avoid evictions for the sake of damage to the property, time it takes to evict, and cost of eviction. If I don't file an eviction, what form should I use to extend the lease to the 15th since the girl on the lease is gone and now it is this guy?

Really appreciate your consideration, Happy New Year!

I've seen people talk about integrated LED fixtures vs traditional light fixtures that take normal LED bulbs. For rentals, is there any reason to install the integrated LED fixtures - I feel like they are going to cause enormous handyman costs in the long run compared to replacing a bulb or two. Thoughts?

I am building new construction homes and I've requested Recessed Cans on the plans and the electrician put in LED integrated fixtures...moving forward, I am embarking on building a 2 story duplex where the ceiling between the first and second floor is fire rated. Do typical recessed cans do the trick for a 1 hour fire rating?

@Greg Dickerson this is great insight, you make great points, thank you.

Thank you Daniel. 

Thank you Will, I like this strategy for flips. A lot of the projects I do are build/renovate and hold. If you were holding the property and collecting rental income monthly, would this change your strategy with the partner?

@Will Fraserundefined

Hi There,

I renovate, build and manage properties in a Florida college town. So far, my business has been limited to my family, as far as investors, and we have been successful doing renovations and more recently building from the ground up as rentals and flips. I have a few friends who are interested in investing capital into the projects and I don't have any experience with this. What is a reasonable return for an outside investor who is simply investing cash? Any recommendations on the structure of the partnership - I am looking for details. (I have been doing construction loans with banks at 5.5% 5 year fixed then adjusting each 5 years thereafter 20-25 year amortization. But even with the banks I have to put down 25% of the project cost, which is where the investor comes in.)

Responses greatly appreciated.

We have rented to a couple, they are not married but have been together over a year. Their lease began in April and is for 12 months, both people are listed on the lease together. I got a message from one of them saying that they need to get out of the lease asap - their partner has a temper and has caused damage to the unit, the tenant also sent photos of a hole in the wall, damaged door and trim, and something thrown in the kitchen staining the kitchen cabinets. 

I wanted to post to the community to get some input on what you would do, or have done in the past. So far they have been current on their rent. 

Hi there,

We have 4 properties so far and growing, we would like to have a DBA name that is a little catchier and inviting than our last name. I am looking at a name that already exists elsewhere in the country. My question is about trademark laws in the industry of home rentals/flips. We are not anticipating becoming huge company with over 100 homes, do you see any issue with using a name that is not unique. I have searched the trademarks database, the specific combination of letters is not currently taken, but one letter off is taken and that is for a candle company. Yes, domain is taken - we will figure that out.

What do you all think? I am looking for solid examples of similar situations and/or legal advice, please not just opinions without basis like, "I don't think it's a good idea."