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All Forum Posts by: Ed O.

Ed O. has started 65 posts and replied 650 times.

Post: Tree removal in Dallas TX

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

Costs for tree services have really spiked. Get a few more bids. It's a tough adjustment. 

I chased bids for our last batch of jobs (came in high) and sadly, the high pricing was consistent. If you're getting prices any time after a storm, you're at a big disadvantage....

Post: What is an acceptable response time for a CPA to prepare my tax return?

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

@Michael Plaks

I'm a bit confused. Is this your firm he's discussing? Your remarks indicate a position - like maybe you run it. If this is the case, I'd love to hear the other side of this exchange to see what is causing the delay. 

Their reputation is looking pretty bleak. 100+ days and bad communication = 1 star. 

@Gustavo Nascimento has been kind and has not called out the CPA doing this return, so perhaps that's the CPAs motivation to deliver in 120 days instead of 200. Their poor work hasn't been called out - we don't even know who it is! This would be no different than me saying that an unnamed painter screwed up a job. 

I remain confused - are you a CPA? 

I love me some enrolled agents. EAs and CPAS  - they're different animals. 

Post: What is an acceptable response time for a CPA to prepare my tax return?

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

Ever paid a contractor 100% up front? That usually ends in a lot of pain. 

25 years of doing this, never even a deposit asked for on the front end. 

I would politely request a commitment to a timeframe.  They have the money, they have the power. They have little incentive to do right by you and we're all seeing it. I'd allow 1 to 3 weeks max. If, or when they likely will fumble it, time to file some complaints with the state to get some leverage or contact a senior partner in the firm. 

Post: Home Depot Perks

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

Victor - be sure and check out Lowes. Home depot changed their rewards programs from mediocre to trash. 

Lowes rewards actually gives us more than a $50 tool rental credit and a flood of emails trying to hype their programs. 

Post: Need Construction Loan - building my first 3-flat!!

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

@Roseann Koefoed

ok - good. Glad to hear you've got a balanced situation. The wheels usually fall off when one side is getting a disproportionate share. 

Good luck with your project!

Post: RE Development Course?

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

@Kristi Kandel

I was just letting this person know the reality of their situation. Most developers, it seems,  share nothing. 

I think it's a balance. We all started with no knowledge in our areas. A lot of people forget that. 

I'd be curious to check out some of your content when it comes out - pretty interesting stuff!

Post: Problem with Tenant Please Advise

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

@Matt Devincenzo

Couldn't agree more. These situations never improve. 

This isn't a situation of "if you're unhappy, you should think about moving." 

It's a situation of here's your notice.  

Post: Problem with Tenant Please Advise

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

If your lease does not contain a provision allowing you to terminate the lease, due to the tenant's unhappiness with the unit, you probably could not do this. I have had to do this twice in 25 years. 

You send them a notice of termination and move them out. 

You say, I'm sorry this unit is not meeting your needs and making you so unhappy. We believe it is best for you to find a unit that is a better fit.

Last, get a google voice number or a burner phone and have your tenants text you only or as much as possible. This tenant is a great example of why they should never have a personal cell phone. 

Worst case: when does their lease end? Be certain to give them notice of nonrenewal and move on. Some people are not worth the headaches. 

Post: Tiny Home Development

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

@Pete Harper

Hey, I was curious to see if you made any progress on your tiny home project. I've been doing some research of my own. It seems like a rural setting is about the only place a person could place one. 

Seems like every politician screams from the top of every mountain top "WE WANT AFFORDABLE HOUSING"  and then declare, NO! We won't have such housing in our city! 

I'm trying to wrap my head around the water and sewer setup for a tiny home community. Do you have any information on how many homes a well and larger septic can handle and costs? That's my biggest concern. The communities I've seen have had rural style asphalt roads and look pretty straightforward.

Post: RE Development Course?

Ed O.
Posted
  • Investor
  • Statewide, MO
  • Posts 692
  • Votes 348

So much of learning development is understanding the specifics within your own market. The requirements and codes vary a lot. Find the area you want to learn the most about and visit with their planning and development department. Cold call developers in your market as well as companies that provide infrastructure work. Be prepared to buy them as many nice lunches as your wallet can handle. 

Working within this segment would also be a great way to learn. 

A lot of developers don't want you (or any potential competitors) to know their trade secrets and efficiencies, which they've taken years and maybe decades to master..... It's not easy to get a lot of them to talk much to an outsider.....