All Forum Posts by: Scott Mac

[1]  A down vote button seems like it will lead to Cliques forming in the background, with people getting together to downvote certain individuals based on like or dislike of the individual. Vigilante style.

[2]  This is an open dialog site. If you disagree with something or do not like it instead of using a downvote button to hammer someones numbers (Which some people cherish) You can simply state your thoughts in the open forum without affecting their numbers. No one is preventing you from doing that.

[3]  It seems like an open door to racism. We all know that this business can be done successfully by anyone, and is. Forming little groups in the background to down vote certain individuals comments based on skin color, or religion, or perceived political leanings seems like something we could all do without on this forum. Over the years I've seen this happen in other groups, not just with numbers but with responses also. We seem to be free of that here. To the benefit of all of us. And just avoiding it for this issue alone seems like a good reason not to do it.

In a nutshell I think a down vote button would not serve to further communication between us which is the goal of the site. Helping each other. 

So I think a download button let's throw a monkey wrench into the good that this site does for people.

Just my 2 cents.

Do you expect wildcatters to show up in your backyard? 

They have ways now to know where the oil is under the ground that are more sophisticated than random wildcat drilling.

Maybe you could find a way to look into if there is any oil under your property.

https://www.youtube.com/watch?v=T0CwhJSKG-s

Good Luck!

Quote from @Henry Clark:

Used to keep honey bees.   A swarm or 10,000 up to 60,000 or more is no threat.  Doesn’t sound like this was the case.  

We do Self storage and deal with wasp and yellow jacket nests throughout the summer.  They build nests under the eaves or in our mulched areas.  At the hardware store buy the spray cans that reach out to 20 feet for around $10.  

Sounds like you visited the house that morning but in the meantime the tenant had addressed.  Sounds like a communication and expectation issue.  Sounds like a good reason to have a nice talk together with the renter.   

Would rather have these renters than my buddy’s who used a chainsaw to cut the sink out when they left.  

 If you think the mulch is somehow attracting these pests, maybe because it's wet from the sprinklers or something - perhaps swapping the mulch out for smooth rocks would help.

Plus the much has to be replaced and the rocks do not.

Ouch Joe!!!

Maybe the scope of work that he accomplished for you on your property was much larger than the scope of work that was bid for by the other plumber.

Sometimes the contractor will come in and tell you a low bid, but then once they open things up tell you you need to spend more to get it corrected because that was not in the bid. It is a tactic used to get jobs.

What I am saying is maybe your go to guy for plumbing is making a reasonable profit and not gouging you- perhaps???

Maybe they had to cut through clay soil versus loam, or tunnel under a driveway???

I watched the work digging for a sewer in the road in San Antonio and they must have been 20 feet deep- this was on a commercial feed on a main road. 

On the face of it it is a huge amount.

Did you get a line item list of what was done or did he just tell you this is what you owe boss get out that checkbook.

I hope you get this worked out to a comfortable price because that's an awful big number to just jump up and bite your checkbook - that's an awful lot of Mc'Donald's cheeseburgers. 

Good timber does not grow with ease, The stronger wind, the stronger trees--hang in there Joe.

Good Luck!

Quote from @Nathan Gesner:

This is completely normal. They collect the rent, deduct their fee and any other expenses they are allowed/required to pay on your behalf, then they distribute the remaining funds to you.

It's critical that you review the property management agreement and understand what you agreed to. It would also be wise to educate yourself on what a good PM does and doesn't do, how they do it, what they charge and why, etc.

My book, The DIY Landlord, will be out in December and can teach you how to select or supervise a property manager.

 Good luck on your book Nathan.

Maybe a bark collar?

Some dogs suffer from separation anxiety and do this. 

They have  phermone collars that might help too.

Good Luck!

How young -- and professional what are they??

Did you communicate to them a time frame for this Bee problem to be resolved??

Did they tell you they were African Killer Bees or just Bees??

Quote from @Sharad Bagri:

We are considering buying our first multifamily property in Ohio and plan to hold it within an LLC. We're trying to decide between forming the LLC in Ohio or Wyoming.

We've heard Wyoming offers stronger anonymity with lower costs, while Ohio might provide specific benefits for in-state real estate.

Can someone please elaborate on the advantages and disadvantages of each state for our situation? Specifically, we'd like to understand:

• Liability Protection: How does each state's legal framework and case law compare in protecting our personal assets from liabilities related to the property?
• Anonymity: What specific features of each state's LLC laws enhance privacy, and how significant are these differences in practice?
• Tax Implications: Are there any tax advantages or disadvantages to consider when choosing between an Ohio or Wyoming LLC for owning Ohio real estate? In case it is important, we are based in CA.
• Administrative Requirements: Are there differences in ongoing fees, reporting requirements, or other administrative burdens between the two states?

Since this is our first property, is it advisable to use a single LLC for both personal asset protection and holding the property, or are there reasons to consider a more complex structure?"

What you are asking for is called venue shopping.

Relying on advice from Layman in the field seems like a very risky way to conduct business.

Speaking to an asset protection attorney about this where you can discuss your personal assets and business assets in a private conversation might be something you would want to look into.

Venue shopping is something you could also discuss.

Because making a big decision like this based on what someone on the Internet said isn't going to fly in front of a judge if you need that.

Good Luck!

If you collect the 10K from the renter will you reimburse that 10K to the insurance company?

To me it seems like you've been paid already, and are these the type of renter you can collect 10K from?

If they had 10K they'd probably buy a house- most renters are poor.

Would a court allow you to collect twice- make a windfall profit on this mistake in renter judgment?

Just my 2 cents.

And your CPA has no bookkeeper referral to give you?

And what about your corporate formalities?