All Forum Posts by: Account Closed

You get those horror stories. They go both ways. I can't count how many people I've thrown through walls and kicked down the street. You just have to take charge. Once you get a reputation for no nonsense they won't mess with you. Of course, now days I hire property managers and everyone sleeps better at night.

I agree with the above. The lender does not need to know or likely care.  However, you will want to tell your insurance agent so you are covered in that area.

Cincinnati gives you the opportunity to invest in three wonderful states close to home. Naperville gives you the opportunity to pay higher taxes. Also, you get that wonderful stop and stop Chicago traffic. So I suppose it's a toss up.  

 I agree with James Free. I have only been here a little while, but it seems like the mission of this site is to make money for the site. I have had my posts removed multiple times for answering direct questions to me. How are we going to help people if information is not free. After all, how many old information watered down books can a site sell?

@Rob Hart When you talk to the insurance agent about coverage see if some of the usual items can be written out of the policy. They will sometimes be willing to write out things already in poor repair and cover the things you really need to protect yourself. i.e sometime you don't need to insure a bad roof, but you do need liability for a rusty nail, etc. Good luck. 

@John Teachout wrote "And as mentioned above, a "no contingencies, no inspection period" offer is really strong when coupled with all cash as it will for sure close barring title issues. These are the offers we've made for all our rental properties. We do the inspection when we view the property and don't come back until we have the keys." 

Great advise. 

I'm confused? Different states have different laws about purchasing a property sight unseen. Whatever the laws in your state, you should be able to make an offer contingent on just about anything under the sun. Getting a property under contract without seeing the inside first is pretty standard for me. Why take up everyone's time including the tenant's without a signed contract? I wonder if this is a residential agent and not a commercial/investment one. If a person has to drive around the world looking at property before they can make an offer, that person won't be buying much. If this is the listing agent, you are stuck with his/her rules. If this is your agent, get a new one pronto.

 @Gary Guidi  Thank you for sharing. Congratulations.

You should listen to an attorney's advice over random people on a forum. That said. Ask your attorney about placing the parent LLC in a state like Wyoming so your name will never appear on the records (with a little legal manipulation). He will know what I'm talking about. Good luck.