All Forum Posts by: Gordon Starr

Last year I hired my son to work for me in the family trade business rehabbing and renting houses. It's a full time endeavor for me and I always filled as a real estate professional with schedule e before. Well now is the time to file and I want to ask. What forms do I need to file as a sole proprietor?  Also will I trigger an audit on myself? We are losing income and I think this might help with the sba eidl app I have in.  

Hi steve, don't use the main screw at the bottom. You will need free slots dedicated for your range, all three wires. If you can free up space by pulling your old kitchen wires, go for it. But to me, It looks like your board may be overloaded already. What ever you do now, when things get back to normal, have an electrician or gc look over your work to be on the safe side. You may need to upgrade the panel before expanding further.

Hi all, need some advice here as I really need a quick 10k. I am like a sole proprietor doing buy, rehab, and self manage business with 10 doors and growing. but as of 2018, I was only filing schedule e. That could cause complications, right?   In 2019 I added my two kids with pay and I will file as a SP. Should I file 2019 before completing the application? thanks

Dayton is on a big upswing. It is an excellent time to invest in emerging C class near downtown, especially where you find super solidly constructed smaller homes dominating the landscape (1950s, 1960s). Suburban B class is also rising with the steadily improving jobs picture. i invest heavily in North Riverdale and Southern Shiloh (45405) and count a computer scientist, robotics technician, and resteraunt manager as tenants. Eight years ago, it looked like this area was coming unglued but it really turned around. Locally, the twister messed things up badly but, now its booming with new roofs and construction and demolition.

This bear market in stocks and extremely aggressive action by the FED has sent bond yields to record lows. That means more low interest rates and horrible returns on bonds looking forward. Real estate is about the only thing that can give you a good steady return on your portfolio. Plus, rents are rigged to go up slowly over time, so you SHOULD be ok.. If you see major corporations operating in your area going under, though. Landlords will be hurting right along with the local economy. Just look what happened to Dayton, OH when GM shuttered up and left town.

@pat l hope mine is better designed than your first one was. A multilayer tearoff like thread this should be and is gonna be, you don't want the gorilla speed demon crew with 400 pound mongo- bang crash there goes the sheen from a nice original 1950s aluminum awning. I am into restoring places like that as a business. if it has three layers it often means it has not been molested. Get someone good to do it! 

my guys are weekend warriors and they haven't been available till now. We now finally got to my own jome roof over, it's been leaking since the twister. Much more easy and peaceful work. Zero damage, plus I put in a big ridge vent.

See if you find this story interesting.. I close in a Friday on a house with a leaking three layer, moisture forming on the woodwork and mold starting. I spend the whole weekend dealing out a gube job to all the faculty flashing seals. Then Monday is memorial day.  The twister hits the place, sucks out all the seals n more. Now I am at the mercy of the market roofers n more damage gets done on the tearoff than by the twister.  

@jay thoms . In our town, you don't need a permit to put a roof on your own home or a rental that you own. You are responsible for any harm you might cause, of course. Who if anyone cares? The super solid construction standards of the areas I own in dayton ohio shiloh north riverdale (also cleveland, detroit, pittsburgh) support three layers. I think its one reason why only one was killed when an EF4 tornado tore through trottwood, shiloh and even smacked my place in north riverdale. The twister just could not sweep off all those shingles!

It does look like three layers isnt legal in ohio. Yet, four of the ten houses I own had three layers. Maybe they changed the law? Or.. Maybe people cared more bout fixing the roof for a price they could afford. Roof over is in the diy range whereas a two layer tearoff is not.