All Forum Posts by: Justine Scheuher

I met with a real estate attorney and he recommended putting each property (I have 4 total) in Land Trusts. He said it adds a layer of "smoke and mirrors" for a little more privacy/protection.  I was wondering what your all's opinion/experiences is with Land trusts and if its worth the hassle of going through the paperwork. 

@Arlan Potter THANK YOU!!!

Hey BP Family! I took the plunge and bought Quickbooks Desktop. Super overwhelmed and not sure where to begin. Does anyone have a tutorial they would recommend? 
Currently I have 4 rental properties (3 SFH and 1 4plex). They are all held in my name for now, but eventually will be transferred into my LLC....whats the best way to enter them in? Is it possible to set it up to run numbers separately AND all together?

@Christopher Reeder thanks! Super helpful.
@Jill F. yeahhh I thought that they should have been on SSI/SSDI too. The other sister, just keeping saying they didn't have any money to pay for the rent...I want to be accommodating as possible yet still get business taken care of. Their rent is even $100 below market, the least they can do is all sign the lease. 

@Account Closed shouldn't all occupants be on the lease? (At least that is what all the BP books I've read/my REI attorney said).
I would like a new lease, for consistency--the lease that I use for all of my tenants and a year long one opposed to month-to-month. 
Yes, I could terminate with notice...but I didn't want to kick them out given their age. 
If you guys can walk me through what happens if I don't have them sign a lease. The mom dies...and then the kids aren't on the lease, aren't paying rent...whats the process? Would it still be an eviction? 
OR get the other sister who doesn't live there to co-sign?  

I've inherited a 94 year old tenant who lives with her son and daughter (in their 70s-80s). I'm not quite sure what to do...they have been month to month. Only the 94yr old is on the current lease. Should I just keep it that way?

I tried to get everyone to sign a new lease (same price), but it got complicated...the OTHER (younger and healthier daughter who doesn't live there) said that the siblings that live with her mom don't have any income, hence why they won't sign the new lease. Rent is paid by the elderly womans social security check. 

But i want everyone living in the house to be on the lease right? That way if their mom passes away, they are responsible for paying rent..right? OR should have the the younger daughter (who doesn't live there) co-sign on the new lease? 

How do I find out what their plans are for when their mom passes away-----ex. who will pay rent? or when will they move out? who will clean out the place? etc. 

What did I just get myself into?! lol

Andes Roofing/ Andes Gutter Cleaning for your Roofing/Gutter Needs--this guy is AWESOME. 
John Torstrick is a great contractor 5024574337--hes booked out but does awesome work. He did and kitchen and bathroom remodel for me--it looks amazing. As long as you do the demo yourself or hire it out separately, its reasonable. 

Hey! Does anyone have a reliable/licensed plumber and roofer that they could recommend?

I need to replace a toilet. What ballpark estimate should I expect to pay? I feel like my other plumber way over charged me for the last job he did.

I bought a 4 plex end of last year with one unit Vacant. The renovation is almost done and I’ll be renting it out much higher than the other units. (Other tenants can’t afford).

The couple in unit 4 are due for a new lease and want to stay (I’ll be upping their rent $30 to get it closer to market) BUT they want their bathroom remodeled eventually.

I would also like to remodel that bathroom because it’s only a matter of time before the old galvanized piping starts causing problems.

It doesn’t make sense to remodel it and not up their rent to market, right? (they current pay $545, I’m upping it to $575, market is $650-700).

Should I just least them for 6 months and then do the renovations after they move out?

Or just tell them after renovations, the rent will increase?

*It doesn’t feel right to not renew their lease with everything going on.

Other options? Thoughts? Suggestions?

@Michael P. Okay Thanks!