All Forum Posts by: Nitin Shrawagi

Looking for investor friendly handyman in Wichita Falls, Tx  who can do Flooring/painting and few other minor repairs. 

Thats right Bruce - I used GC term loosely - but all we are looking for is someone who can do Flooring/Painting and few other minor repairs. 

Looking for GC to do flooring/painting and few other handyman jobs at investment property at Wichita Falls, Tx.

thanks 

@JD Martin  -  leak in the drain line from the toilet seat.  Static test showed water drops 8 inches in 3 mins so its a significant leak. 

We have a rental property in SanAntonio suburbs and the foundation is sinking.   Its very possible that the foundation shift happened due to water leak under the toilet seat - and our insurance covers (should) that scenario. However, at the moment, Insurance company is denying the claim. Are there any attorney's on the thread (or references) that can help us fight this case? 

TIA

Experts, need your opinion - especially from folks who own several SFRs in a partnership. My partner and I have W2 jobs and 8 SFH rentals. I have title/financing on 4+ my primary residence and my partner is in similar boat. We file taxes for all of them under our LLC name.

While the interest rates are historically low during pandemic, it seems like its getting harder and harder to get bank financing and/or to refinance them. I am denied of financing on my primary home on the basis of debt to income ration with the strange rule that they are calculating the rental house expenses (Principle/interest/Taxes/HOA/Insurance) 100% for me but the rental income is considered only 50% as I have a partner.

Any experiences?  May be we need to structure this differently? If any real estate attorneys on the forums, would like to hear from them. 

TIA

Thanks a lot Dave, Jay, Jason

Yes we generally stay away from lending to homestead properties.  

But we do raise money from close friends for bigger projects. We write them promissory note on our own credit and get it notarized. At the end of year, we issue 1099 INT for the interest they earned.   Does that require any type of additional legal recordings in state of Texas?  All our projects are local to texas but we have one investor for CA.

Thanks again for your valuable feedback. 

Hi Experts, 

We have formed a LLC and are already in business of providing private/hard money loans for rehabs and ground-up constructions. Is there any legal requirements to fulfill to make sure our LLC is legitimate for private money lending? If so, any lawyer ( Austin, Tx) that you would recommend?

thanks,

Anybody contested against Choice Home Warranty in small court?

We been carrying CHW for last few years and they still denied the claim on AC coil saying that they don't cover rusted parts per their contract.  Our argument is what if the part got rusted while we are under warranty.  I checked with local court and it seems like I need to find someone in NJ middlesex county to serve citation on my own.   

I am wondering if anybody been through this process and if I can get some tips. 

thanks,