All Forum Posts by: Prakash B.

Guys, when finding deals how much are you guys dependent on your real estate agents? Do you guys find it on your own from MLS portal or Is it your real estate agents who gets you most of your deals? Also are these deals off market or from MLS? Since deals are hard to come by, do you recommend working with more than one real estate agents?

Ahh its like Principal and interest. I usually use PITI aka principal, interest tax and insurance for my calculation. Thanks

Hello BP Folks,

I just found out that the big tree branches have started touching the roof of my apt building complex. The tree lies in the property of another building. Who is suppose to cut the branches? Me or the neighbour where the tree belongs to? Since the tree is in his property, isn't he responsible for trimming it and making sure that it does not harm other property? 

The neighbour called me and told me that i have permission to cut down the tree but I do not want to pay the $$ for it. Usually cutting trees are expensive and should not it be his responsibilities to do it?

Thanks,

Prakash

No i just did it online. Did not use any attorney for it. 

Thanks @Rob Hakes! I just want to make sure that if the LLC get sued, the LLC will protect me enough that they cannot touch my personal property or garnish my pay Checks.

Yes, I have  followings that you have mentioned: 

- LLC as a seperate enitity - keep minutes, seperate bank accounts, seperate accounting, and having the property titled in the name of the entity

- Business Liability per occurrence and aggregate from insurance company

Just want to do be in safe side as i am starting to scale my business.

Are there anything that i need to be aware of beside umbrella insurance?

Thanks!

Hello BP Folks,

For those who have an LLC registered for your real estate, how do you guys make sure that your assets are protected. As far as i understand, just having a property under an LLC does not protect your assets if something happens or somebody sues you. Do you guys buy some sort of LLC insurance for it? Whats the best way of handling it. Do you guys get lawyers consultation? If yes, how much do they charge for it?

Thanks!

Thanks Guys! I managed to get her account number and get a proof from electricity company that she stole the electricity. We were right about to evict her but with a little chit chat with a tenant, we agreed to terminate her lease early. She promised to leave the apartment by the end of next month. If not we have enough proof to evict her. Thank you for all your help and advise.

Hello BP Folks,

I have a section 8 tenant which i inherited from the previous owner. She has been causing lot of problems and her lease is set to expire in end of July.

I found out from other tenants that she tampered the main electricity meter box to turn the switch ON on her unit. The electricity company had come over and put a lock few days ago and i had asked her to pay her electricity bill.  But instead it looks like she went ahead and tampered the electric meter box and have the electricity turned on. I called her if she paid the bill and she says "Yes" and i asked her to give me the account number and bill receipt which she denies to give.

I called the electricity company and they told me that they cannot check the status until I have the tenant account number. I tried to get it from my tenant but she just denies to give it to me.  I am now in a catch 22 situation where i cant check the status if she has paid the bill  or any info from the electricity company. Should i call the electricity company and report this issue to check if the tenant has been stealing electricity? 

What do you guys advise and how should i approach it?

Thanks!

I am thinking such targeted people dont check craiglist, realtor, zillow and such often. I am having hard time finding ones just from online adds. Any suggestions?