All Forum Posts by: Mark S.

We have an opportunity to try something completely outside of our realm of experience. Someone we know has a line on an attractive apartment in Paris that is coming up for sale in the building he lives in. If we buy it he will manage it as an airbnb for us. We have a lot of due diligence to do but I thought I would see if anyone has experience in this sort of thing and suggestions for us. It would be purchased through our LLC. Thanks.

We have invested in several condos in an area that is especially attractive to the millennials. Easy to rent, easy to maintain. And a great property manager. I see the association as a plus in this situation since we have very little actual property management work. Easier than our SFRs.

As long as the floor doesn't have any noticeable dips or large gaps (over maybe 1/2 " or so) and the plywood is tight you should be good to go. As the previous poster said leave a little gap on the edges. If you get it started straight you should have no problem as long as you got decent material. Use the tool that they sell to help tap the pieces into place, be careful not to damage the edges of the boards and check once in a while to make sure you have everything right. Nothing worse than getting on a roll and then noticing that three rows back you didn't get one tight!

Thanks for the input. I will take a closer look at the house. It has a great lot and is in a very nice neighborhood so it could be a good property to pick up.

get the degree! It helps with several things 1) provides options in the future, 2) teaches you to analyze and communicate, 3) requires discipline which is important. It doesn't really matter what the degree is in although something like finance is always good.

does anyone have experience with wood could dations in heavy clay soil? There is a SFH near me that would make a great executive rental but it has a wood foundation. They did a few of those in our area in the late 1980's and then they seemed to fall out of favor. Quite honestly they make me nervous, especially in clay.

but of course each situation is different, which is where a good agent comes in.

water back up is good to have

It seems to me you are getting two different kinds of insurance mixed up. There is property insurance, which covers damage to the building, some liability, possibly things like sewer backup if it is a good policy, and lost rent if it is a landlord policy (among other things). Then there are policies that cover the building's mechanicals. You need the first kind, you might or might not want the second. I am simplifying a lot here. A good indendent agent can help you.

You should always get a lien waiver from any contractor who does work for you. It prevents them from placing a lien on your property for amounts they might claim you owe them for work and materials. You can find samples on line.