All Forum Posts by: Jarrod B.

Hello BP fam, I'm looking for a reputable real estate attorney to help me set up an LLC for my rentals. I currently have 8 rentals, all under my name and I'm looking to protect myself. Anyone have any recommendations? Also, what kind of LLC do people generally use in order to protect their assets? I was thinking a Series LLC would be a good option...Thank you in advance.

https://forum.mobilehomeuniversity.com/

Check this out, mobilehomeuniversity offers ample information about owning mobile home parks and has an active forum whereby park owners and investors ask questions. You’ll find what you’re looking for there...

Hey there everyone,  I was wondering if you all could help me out.  I am looking for literature that will explain how to value Mobile Home Park deals.  Is anyone aware of books or a website that I can go to that will further educate me on how to value a mobile home park deal?  I know there a bunch of nuances and I would like to further dive into how to evaluate these deals.  

Thank you so much for your time.

we have a garage conversion that we need stuccoed and 20 sheets that we need drywall finished.  The prices we were quoted were pretty outrageous so I'm trying to expand my network and get decent pricing....

Hey guys, I was wondering if anyone knows of any good drywall/stucco guys in the West Palm area.  I'm a big proponent of using sites like homeadvisor, thumbtack, porch, etc to find contractors, but for the life of me I can't seem to find a decent contractor to do drywall finishing or stucco a project that we're completing.  This is the one part of my team that I haven't tied down yet.  Any help would be greatly appreciated.

In addition to the sites I mentioned above, how do you go about finding good contractors?  I have also done the home depot method and hung out there in the morninng to make contacts, but what other methods are used to find contractors?  

Thank you

Thank you for the responses guys...I appreciate your time

Hey there all,

I have a quick question in regards to buying off-market deals from out of state.  

I'm actually switching hats from acting as an investor to purchasing a house for my family and there's a certain area that we are zeroing in on.  The only problem is there is limited inventory and the inventory on the market is less than stellar, so I was going to organize a direct marketing campaign to target off-market properties fitting my criteria.  Which poses my next dilemma in that we live out of state and any response that we get from prospective properties we wouldn't personally be able to drive out to the properties to inspect them.

We have a real estate agent that I used to purchase a handful of investment properties and he's been great finding deals, but when purchasing off market deals I think we'll be dealing with sellers that aren't interested in paying the buyers commission (for the most part).  My question is, how do you actually go about inspecting a property with off-market properties from out of state if you can't rely on a buyer's agent inspecting the property due to the fact that the buyers commission is off the table.  I think what I'm really looking for are some ideas to get eyes on the property initially.

My thoughts are, 1.  you can try to get a seller to pay the buyer's commission, that would get an agent out there and willing to look at the property.  

2.  Maybe pay a flat fee to an agent per visit to a house 

3.  Just have the seller Facetime a walk through.  

But that's all I could come up with.  Do you all have any other suggestions or recommendations on how I could get eyes on a property from out of state?  What do you think about my thoughts on the issue?  

Thanks in advance for your help...

Hey there Gail, thanks for the response.

I do not have a property manager, but I have friends who live in the community that can snap a picture of the door to determine if it's been replaced or not. Plus I'm sure the community HOA would be more than happy to let me know whether or not the door is still broken.

In regards to the illegal tenant, the way that I found out about the illegal tenant was through our HOA receiving complaints about them, and then eventually he admitted in an email that he was going to be there for a couple months. I informed my tenant that they needed to provide me with a drivers license of the new tenant so I can do a background check on them. If everything turns out ok, I told him that I'd just add an addendum to the lease to include the new tenant and them charge him $35 pet rent for the cat. If he doesn't provide me with a driver's license or if he doesn't respond saying that the tenant no longer lives there, I'm going to assume that he's still in the dwelling with his cat, but I'm not too sure how to prove that he's still living there. At this point I'd probably seek legal counsel to determine how to prove that in court and make sure i have all my ducks in a row.

The easiest grounds to evict this guy would be based upon him not replacing the door, so that's what I'm going to focus on. I wouldn't make such a fuss if he wasn't always late with rent, partial payments, avoids paying late fees, doesn't pay utilities on time (the energy bill still has to be in the owners' name), now i'm getting complaints from neighbors, complaints from the HOA about him smoking weed, etc. He's up to speed on rent, but his tenancy is just a headache, there are much easier tenants to rent to especially in the market where i live.

I guess at this point I'll just file for eviction on day 8 and let him know that I mean business.  Thanks again for your responses.

Hey everyone, I might be going through my first eviction and was wondering if you all could share your experience and wisdom as to how it might go down. I understand that nothing could beat legal counsel, but your personal experiences would be well appreciated.

I have a tenant who moved in another tenant without my knowledge, he also has a cat, which is prohibited on the lease. He also broke my front door and the HOA says it needs to be replaced immediately. I'm out of state, so I sent him a 7 day notice for noncompliance with opportunity to cure to replace the front door and move the new tenant out along with his cat, since then four days have passed. My question is, once the 7 days are up, do most people immediately file for eviction (I would be hiring an attorney) without contacting the tenant again? Do you send a final letter on the 7th day asking what they’re planning on and warn them of the financial repercussions of not answering or curing the issues in the Noncompliance notice (i.e. attornies fees, eviction on record, etc)? How do most of you handle this issue?

Again, after this 7 day grace period and If I have to file for an eviction, I’ll just use an attorney, but I’m kind of lost as to what happens once the 7 days are up in terms of notifying the tenant.

Thank you again for your words of advice.

Hey everyone, I'm trying to put together a marketing campaign to target a specific area with lots of a certain size. I can do research on Redfin/Zillow/MLS for on market properties and filter out those properties by lot size, but is there a way you can do that for offmarket properties as well??

For example, I want to pull all the offmarket properties in the town of Kennesaw, GA with a lot size between 2 and 5 acres so I can send them a postcard indicating that I was interested in their properties.  Does anyone have a quick way of pulling that kind of market research?

Thank you once again BP community...