All Forum Posts by: Bob Collett

@james deroest

James, Thanks for the input. I know one can sue over anything.  I was hoping someone could cite specific case law. I know many leases (including my own) require the tenant to cut the lawn and provide their own lawn mower.

How? Its more common than you would imagine. The mower gets clogged, and you reach down to pull out the clumps of grass without shutting off the mower. Oops. Complacency... like experienced pilots trying to land an airplane and forgetting to put down the landing gears.  Or commercial printers rigging the paper cutter safety switch to free up one hand so they can work a bit faster.

Sorry for the big type in my post... not sure why this happened.

YES. Key components of property management (leasing and renting) are considered real estate activities under existing Wisconsin real estate licensing laws. If a property manager is going to negotiate, or offer to negotiate the rental of an interest in real estate, or promote the rental or leasing of real estate, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.

Good luck.

On this subject I would love to hear an attorney chime in as to liability. Even though we all cut the grass as kids, I know that the lawnmower is one of the most dangerous tools in the garage; and I know of at least one friend missing a finger as a result of a bad experience with a lawn mower as an adult.

Does my exposure change if I provide a lawn mower, or if the tenant buys their own? What would happen in the case of a serious tenant injury?

Talk with Dollar Bank. Let me know if you need the contact info for their investor specialist.

welcome

Brook

Cleveland.  The problem is that houses sold at tax auction are sold sight unseen, AS IS, so you will need to work on your due diligence strategy.

Good luck.

Vuk

Buy & hold or fix and flip? Required ROI?

They are still out there, but lots of competition from investors and owner occupants.  

Feel free to reach out to me for a reality check... lived on west side my whole life.

Good luck

@Darrick Neal

I have often thought about selling the LLC instead of the real estate. I have not done it myself, but I think it is a great idea for a bunch of reasons... just make sure your LLCs are squeaky clean. Of course, check with your attorney.

James

I have a client that uses a piece of stainless steal in his low end units. When his tenants trash the place, a bit of steel wool, and he is back in business.