All Forum Posts by: Ryan Skinner

"https://www.petscreening.com"  that looks like a very helpful service.  Wonder if i can charge the applicant a application fee to pay for that service.  In addition I assume as you say that they would just sneak them in, then claim "assistance animal".

I agree a SERVICE ANIMAL is no different than a wheelchair, but ten "emotional support" cats are more comparable to a toilet than a wheelchair....

a miniature horse and lama and iguana are all considered "emotional support" animals.  Its clearly a bs liberal law.  I just did not know if we have means to protect ourselves from tenants getting around no pet policies by making this claim.  I understand the need in some cases for actual SERVICE ANIMALS... that i completely understand.  But any liberal could make the argument all pets are for our "emotional support".  its not going to support me replacing carpet from their emotional support goat pissing all over my freshly remodeled unit.

Thinking about buying some duplexes. I have been out of the game for many years.  Wife who is a realtor, told me about new fair housing laws on emotional support pet laws. She said you can not refuse someone who claims their pet is a emotional support pet (if they have a letter from therapist?).  She said landlords are forced to take pets even if they have a no pet policy.  In addition she believes I could not even charge for a additional "pet rent" to the tenant.  Is any of this true, and what recourse do we have?...if any.

my only expense is what i would owe to the bank. The deal is a triple net lease.  Or am i missing something?  Also what would be the "magic formula" ?

I am looking at a possible acquisition of a property that is possibly out of my price range or the higher end. They are asking around 1million. Can someone help me understand what a good formula is to determine what to offer and if i should even consider buying the property. I just want to be the landlord. The location is good and it is a franchise business offering a triple net lease. I am new to this so some of these terms are unfamiliar to me. Has a 6.25 cap rate and a $66,000 1 year NOI. What other metrics do i need to determine a offer price? I want to take the emotions out of investing and simply apply a formula to all of my offers.

"hard money lenders" like the guys who will break your knee caps if you dont pay? (and have ridiculous rates) 

i was reading about that. My novice understanding is that that NR loan is an extremely rare option and unfamiliar to most conventional commercial lenders.  Hope I am wrong, and will ask.  Happier with a higher rate to limit that risk.  I would also be more aggressive in acquisitions knowing that if everything somehow unravels (no one can predict the future) I would still have a place to live (that took me a lifetime to acquire and payoff). 

I believe its called a qualified personal residence trust QPRT

so despite putting down 20% they can just liquidate my HOUSE?? what if i sign the lending docs under the LLC (so only the LLC is making the personal guarantee)? Can i transfer my personal home to a Trust or a separate LLC? I never want to wager my house again. Don't care about the money, just need a place to live if everything goes to hell, life is too unpredictable...