All Forum Posts by: Michael Bertsch

Also, I include a stove.

I usually supply dishwasher, garbage disposal, fridge, and microwave (if it's above stove for ventilation). You definitely do not want tenants bringing in their own fridge because they will cause damage. They will scuff up floors and bang up walls/corners bringing it in. You also may want to stay away from the fridges with ice-makers. They break down pretty often.

John Anderson It doesn't matter what you do but you will never be 100% protected from a lawsuit. A good lawyer can always find a way around an insurance policy or pierce the corporate vail of an entity. You just can't let the risk hold you back from your goals.

I usually just max out my liability coverage on my properties and get and umbrella policy for protection. I would never transfer title to my LLC because of the due on sale clause. They usually never enforce it but if interest rates go up, it's always a possibility. Not worth the risk on my low interest 30 year loans.

Flood zones are usually a deal breaker for me on a buy and hold. The insurance eats up cash flow.

Porcelain tile

If the fridge needs replacing, just buy a new one. You can deduct 50% with bonus depreciation the first year.

If you're strictly using it as a rental, I wouldn't touch it. Best of luck to you.

There are two great books on flipping I recommend reading. Jay Scotts The book on flipping houses and the book on estimating rehab cost. They are great reads to get you on the right track. Best of luck to you!

For flooring, I recommend going with porcelain tile. That's what I have put in my rentals. It's a little pricy but it can take a beating. It also looks great.