All Forum Posts by: John Miranda

Evict! Every state has different laws but soon as the rent is missed I get the wheels of eviction turning, granted if it was a long term tenant I might give him a few days. But the stories will always be there, another few years and you will be able to write a sitcom. Good Luck 

What exactly are you using him for? It can be had to stop using a certain person, but you are putting your success in their hands. I had always used the same electrician I had known him my whole life and halfway into the last project I called another. My go to guy was just taking too long, always got it done but just took to long. I ended up hiring another one and it is like night and day he gives me a price does what he says quickly.  At $50 a hour you could get a few guys to replace him. Some guys are worth the money and some will take advantage of you. 

What insurance company are you using? And what type of policy? 

I good friend of mine would always replace a certain 4 letter word with "flipping" so I think flipping insurance has 2 meanings. After spending 40min. talking to a agent just to have him call me back and say "sorry I cannot insure your property" I started looking around and came across Builders Risk insurance. after spending 40min. I found a few treads here but they are all old and the links seem outdated. I flip single family homes under a LLC.

Have you looked at investing the 60K into another property? I would at least do a little research into a multifamily and/or other RE investments in the area to help gauge your plan. 

You mention not being able to qualify for a loan to refi, but dont forget the rent from the multi is more income

I have not been able to find out any info online on how to correctly charge interest on a business loan if it is paid back within a year can I charge it based on the days it was borrowed? Or does the IRS require it be charged based on the quarter or year? 

Is there a way to search the templates and files section?