All Forum Posts by: Matt Ziegler

Simon, a house from this era will require a lot more work, read expense, than a house built say after 1978.

Think lead paint, asbestos, galvanized pipes,etc. if you figure all those items into your project, not to mention sewer lines as already discussed, then you have a better idea of the scope of work.Worth spending the upfront money for tests, and inspections so you know as much as possible and can budget accordingly.

We are doing a full gut rehab on a 1920’s house now, and it is extensive. Not saying you can’t do it, just lot’s more things to consider. Also , it pays to check on historical requirements and zoning to avoid surprises.

Best of luck!

Why not look into apartments.com? You can use this platform for apps., screening and leases. We have found it fairly easy to use. They also have a payment feature that works well…..

Wayne, why not help them find a multi family property? They could live in one unit and use the income from the other unit(s). Have you looked into a reverse mortgage? At their age this may be an option…,

I agree with Joe, sell it and reinvest. The process of fixing and or building new will teach you a lot, but will come with growing pains. Based on your experience level, use the proceeds to invest in another property that will allow you to learn on an easier curve.

Either way, best of luck on your journey 

Hit post too early! To continue, if this is s business, treat it as such.

Not only the right business entity, but good insurance as well. Set up your LLC, get a good business/ commercial insurance policy, and sleep better at night!

Best of luck!

Are you running a business or a hobby? If you plan to grow and m

A title company rep on your area should be able to answer this. Paying for good advice will seem cheap in the long run! Best of luck

If you ask your lender, chances are they will deny your request, that has happened to us. If you quit claim the property to your LLC, have your insurance in the LLC name, or as an additional insurer, and continue to pay your bills, the chance of getting the note called is small.

We operate several properties this way. Having said that,good commercial/business insurance is more important than putting the property in a LLC. I think this gives you more asset protection…

Not a lawyer or insurance professional… just saying.

Don’t get involved with tenants he said she said issues. Follow the terms of the lease as that is the contract. As others have stated, since they are MTM, you can give them notice to vacate and move on

Without good documentation, you will have little chance of holding them responsible. Move on and learn the lesson, document/video condition before occupancy, and upon move out…