All Forum Posts by: Scott Mac

This looks like a very nice property, such a pretty pool, do you also have hot tubs?

I think this will be a real "Boone" to the area.

If you want to know if it is a fair price for your area and this time of the year, simply get two or three more bids.

Good luck!

You mention offering homeownership opportunities to people who have been rejected by traditional banks.

Do you have an estimate, or a track record, regarding how many of these homes will not be purchased under the contract and the borrower defaults and the home will revert to you to resell?

Section 8 can be a PITA in some areas with things like paying rent on time if there is a water stain on the ceiling.

Where in a standard market rate rental a stain like that could be handled when you get around to it and the rent would still be due.

II wonder if it would stand up in court that they could force you to use their contractual payment requirements on your own Private property.

Plus the applies only to people who own more than five rentals.

Just my 2 cents.

Hi Ricky,

Being in operation for 10 years with mid seven figures of assets and NNN leases,

it would be wise to speak with your tax advisor regarding if the tax set up should be an LLC, an S-Corp or a C-Corp.

It would also be wise to speak with an asset protection attorney to find out if this is something that might be beneficial to you in that area.

From an operational standpoint you might also want to consider the cost of any extra tax returns that are needed by the entity as well as any extra accounting fees.

Good Luck!

Check the unit for pets.

If there are pets in the unit take a pan from under the sink and fill it with water so there's something to drink.

Look around for some pet food spill that into another big pan so they have something to eat. 

While you were there call the renter from the unit and ask what the renter wants to do with the pets.

If the renter has no way to take care of the pets and you do not want to keep them due to their cuteness and friendliness, then an option might have to be a no kill shelter.

https://www.nokillnetwork.org/

California used to be smoking hot.

Like Jay said houses that used to be $30,000 now go for millions.

The dishwasher may have a grinder in it for food particles, and the discharge might go into the disposal.

Those particles might not be washing down completely.

Maybe they are grinding up garlic or onions or who knows what.

Maybe that is what is coming Into the garbage disposal possibly from the food on the plates or something like that.

Maybe the P trap under the sink is not filling with water correctly and allowing sewer gas to come back in.  

Just my 2 cents.

People who live in a slum do so because that is what they can afford.

Section 8 does not allow slums on it rental list.

If you take this housing away from these people where do you intend to have them live; in the streets, underneath freeway overpasses? 

If they could afford to own houses they would own the houses but they can't. 

And in America slum housing is not the order of the day it does not exist. 

Slum housing seems to be the order of the day in some 3rd world countries though. 

Maybe volunteer for habitat for humanity and go swing a hammer for a few afternoons and build a house for some underprivileged family???

Just my 2 cents.