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All Forum Posts by: Matthew Dodrill

Matthew Dodrill has started 7 posts and replied 11 times.

Post: Starting brand new with a twist

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2
Quote from @Nathan Gesner:
Quote from @Matthew Dodrill:

Managing 70 rentals can be a full-time job. Do you have the time to handle calls, chase payments, update leases, set up management software, etc?

If it were me, I would spend my energy finding a reliable property manager to take them over. Let them do the hard work of getting rents to market rate, updating leases, setting up online payments, getting rid of bad tenants, etc. Stop the bleeding while you get situated. If they work out well, stick with them. If not, spend some time vetting another PM or educate yourself to take over.


 Yes I have time and know how of the day to day.  I do not have the knowledge of how to properly setup a company that "what / how" is what I am asking.  The foundation is the issue.. passing the problem is not valid solution a PM would not care the same as I do.

Post: Starting brand new with a twist

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2

Hello everyone, I may be finding myself in a situation in the near future of receiving 70 SFH and a few duplex's the issue at hand is minimal legal structure (one basic LLC) and no systems in place for anything, (no rent collection methods, or accounts setup for a business or CC, or anything else you can think of).

If you had to start over from the very first step how would you set it up? What legal structure? A Corp to LLC to LLCs??

What systems would you put in place? 

How would you have rent collected?
  

Post: Pinhole in A-Coil in home HVAC just 1 year old

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2

I ordered it from HVACDirect. com and because I put it in myself and I'm a lic. contractor they will not honor the warranty...  I searched around on amazon for a while and going to try the this "Leak Saver Direct Inject Ultimate 3-in-1".   

Living in a little town it is become more increasingly difficult to find anyone that can do anything other than "install new".  

 

Post: Looking for help in getting out of an LLC I am a member of

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2
Quote from @Bruce Woodruff:

This is easy to do, I've done it a few times. Just get the corporate attorney who drew up the LLC to remove you as a member. One office visit and then they will file the paperwork for you. Done.


Ohh but I want 1/3 of the LLC too. I'm not going to simply walk away from 23 years of my life and have nothing. No they do not deserve any type of such gift.

Post: Looking for help in getting out of an LLC I am a member of

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2

Hello, I have been a member of an LLC since 2003. It become very clear that the other members and I must separate because we have grown apart. It is a 3 member LLC. The other 2 are in lock step and make extremely poor choices and it has cost all of use a lot of money, because of them we are losing hundreds of thousands. I am seeking legal representation, anyone out there that can help me?

Post: Pinhole in A-Coil in home HVAC just 1 year old

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2

I have an issue with an A-coil it took a little over a year for the Freon to empty out. it was determined that their is a pinhole.  I have had 2 HVAC companies come and look, both want to replace the A-coil.  The whole system is just over 1 yr old.  My question is can I put in a coolant sealer in the line the same as what they put in cars in the home AC line?   No one will answer the question here. I only get its "too hard to solder the aluminum" when I start asking about putting nitrogen gas in the line before soldering. 

Post: 15yr old wants to to side hustle need help with a wavier

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2

Hello BP family.  I have a 15yr that wants to start saving money and realizes she has some skills but still wants to be a kid for a little while longer.  I have taken her around with me working on a few different projects and she picked up that snaking sewers is fairly easy.   The question is or more rather we are looking for a waver / release form that she could present to clients expressing she can't be held liable for say a collapsed sewer line...  Example "hey my sewer is stopped up, will you snake it for $150",  she agrees only to find out that a tree root has got it and broke apart the sewer line.  She is afraid she will be sued and have to dig / replace a sewer line.  Have you come across a form of a handyman that they are not reasonable for damages discovered to be pre-existing?  

Post: Dark mode for the forums?

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2

Is their a way to switch to dark mode here in the forums?  I have been searching for a little while now can't seem to find its an option. 

Post: Lawyer stole my deal what are my options?

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2
Quote from @Robert Wilson:

Tbh, it sounds like the lawyer did to you, what you did to the landlord. Just my two cents. 


 Please explain.

Post: Lawyer stole my deal what are my options?

Matthew DodrillPosted
  • Investor
  • West Virginia
  • Posts 11
  • Votes 2

Here's a semi short version of what happened.

My family owns a few properties in town we received a phone call from a woman asking if we had any availability unfortunately at the time we did not but to be curious a little bit we asked why she needed to move. She stated that her landlord was shutting down and needed to find a new place so we asked what her landlord was. After getting the information we found out that the landlord that was shutting down was actually purchasing a motel on land contract. I then looked up the owners and contacted them unfortunately the original owner had died and it had passed to his sons. I reached out to them via email and then on voice chat we talked about how land contracts worked being they were out of state and following along with what their father had done before them. I sent them three versions of contracts they selected one we had agreed on all terms and conditions everything except for actually signing the contract. They stated that they wanted to send it to a lawyer just to have it verified and then we would proceed. They happen to pick a lawyer locally in town that has a conflict of interest. After all said and done the brothers then tell me to contact the lawyer to get the details. I contacted the lawyer the lawyer stated that the property was not for sale and never would be. Time passes a new quick claim deed is passed to a new LLC to which the founders of the LLC is one brother and the lawyer. I have all documentation from text messages emails and recorded phone calls all up to agreeing with everything and along with the lawyer stating that there was a conflict of interest. I feel the lawyer stole my work and deal. Is their anything I can do? I did incur damages as to buying locks for all the doors and the bothers asked to buy them off of me but then cut all communication.