All Forum Posts by: Eric Mayer

I started with $1m and then bumped to $2m at 16-20 doors. Still under $500 for a year. 

Large investors know you can still be sued under an LLC and have each property in seperate LLC's in case they need to walk away from one. Expensive and unnecessary in the beginning.

Anyone can sue for anything. Now that you know there is a baby living in your shed, I feel you are obligated to act.

You already realized you will have to eat the cost, but get another quote. I have sold a lot bathroom remodels and that quote seems way high for what you described.

@Meryl McElwain

Ballpark cost to wall off a small dining room and turn it into a bedroom w/ closet? 3 walls already finished with exterior window in current configuration. Currently open to the living room so would need approx 10x10 wall with a door and finish work on both sides. Thanks!

If the pit bull conveys, no deal. That’s all there is to it for me personally. It would be too hard to get insurance without telling a lie. The owner should rectify though as it’s not in the lease. He will try hard when you tell him you are walking away as he knows the next investor will have the same issue.

I love Florida. You probably would too since you like the Cali coastal vibe. I just evicted a tenant in less than 30 days and now she has to pay what she owes me. Stay near Tampa or Orlando for sound investments. Thousands are moving here from California currently.

You could offer Owner Financing to lure some buyers or rent it out/sell it as an investment. Not enough details to comment on list price etc. Best of luck!

I would compromise with your wife and show her some decent C class properties. Never go D class...

Another Clearwater investor here. I'm also a big believer in the Umbrella policy. I have 20+ doors. Be careful if you have conventional loans in your personal name as the attorney will want to take them out of your name. Conventional financing goes out the window when you switch to LLC's.

That seems crazy high. I pay less for a $650k 8 unit in FL. I’ve never heard of replacement costs being double the purchase price. Is this a Mass specific thing? Try a local broker who can pull multiple quotes from different companies.