All Forum Posts by: Scott Mac

Hi Anthony,

It seems like this is a tax question best answered by a CPA who knows your personal tax situation and your grandma's personal tax situation.

Wrong moves could cost you profits.

You might want to talk to a local CPA and see what they say.

Just a thought.

Good Luck!

Hi Sara,

Something you might be interested in.

There is a service that will come out and Grind" the edge level with the abutting concrete.

This is frequently done on large acquisitions as a requirement for getting a bank loan. 

If you are interested you can search the internet for "Concrete Grinding".

Some of them can also raise sunken slabs back to their original position.

It's done very quickly.

Good Luck!

Hi Bruce,

Risk / Reward (or punishment) is what comes to my mind about this.

If you miss the numbers and if you can't carry it to the numbers you (paid for) you may risk foreclosure.

Other than that, a super deep discount on a per door price (providing you can carry the place at a possible loss until you can fix it) might seem attractive. 

But still it seems like it might come down to the availability of your personal liquidity to carry it if you make a mistake.

Kinda seems like a "There's more fish in the ocean" kind of situation. Easier Fruit to pick so to speak.

Good Luck!

Hi Matthew,

Understand the requirements for financing a deal this size.

Hook up with a Commercial Loan Broker and talk to him about this.

Also know how to run the numbers for the property.

Good Luck!

Hi Kyle,

Have you thought about asking for Estoppel Certificates?

Good Luck!

Hi Justin,

Sorry about your Father.

As far as removing the "Squatters" talk to a local eviction attorney about how to proceed.

I'd do it as soon as possible, and you be there in person when they leave to ensure they don't steal anything (everything).

Good Luck!

Well I know they eat dry cat food. I've seen them do it.

They also eat eat cockroaches, mice and rats.

Interesting creatures.

Hi Jorge,

If it were me I'd:

• Ask for 5 (yes 5) referral phone numbers of clients they have had for 3 or more years.
• Call each of them and ask about the service they receive and if they think it's worth it.
• Ask each phone call person the address of their rentals, and go visit them to see what they look like.

It's always a good idea to Vet contractors visually as well as verbally.

Good Luck!

Hi Robin,

Wow, $20k to $50k is a big spread.

Maybe call them back and ask for a supervisor and then ask that person if they could possibly give you a more accurate number, or explain why there is such a big spread in the cost estimate.

That's my thought on this.

Good Luck!

Hi John,

Both 1 and 2 seem like good plans. 

Is one better than the other? Well, that might come down to how you rate the "risk" of these decisions.

#1 Has the added "risk" of possibly not getting rezoning approved, or it taking a very long time.

#2 Means the "risk" of possibly not making as good of a choice of location or structure due to not being boots on the ground in the area when you choose the new place.

Those are my thoughts.

Good Luck!