All Forum Posts by: Paul Granneman

I always love the replys from @BillG!

His sarcasm is lost on the newer generations though...

Bills point and idea are however, very valid. He is pointing out the choice you must make between risk and reward.

All the steps to create the LLC(s) and be anonymous really amount to a waste of money and time in my opinion.

Other folks have said, the best security blanket you can have for your REI business is insurance and screening properly. Those two items cost little compared to the fees and charges for attmepting to remain anonymous.

@Jade Davis,

Like most of the folks who have commented, I have three properties and no need to pay tons of money for software to manage them.

I use the much cheaper: http://www.quicken.com/personal-finance/rental-property-manager-2015

It has all of the flexability I need and most of the features of QuickBooks without the cost.

Read up on the alternatives. There are other pieces of software too that can be useful and are much cheaper to start with.

I wouldn't do the voluntary surrender. Sell the car on your own or to a dealership and pay it off.

Then get some of the money you have been making in payments and buy a decent used car that is more than 3 but less than 13 years old.

This might help you make the choice: http://www.edmunds.com/car-buying/the-debt-free-car-project.html

This brings to mind one of my favorite quotes from one of my favorite authors:

“There has grown up in the minds of certain groups in this country the notion that because a man or corporation has made a profit out of the public for a number of years, the government and the courts are charged with the duty of guaranteeing such profit in the future, even in the face of changing circumstances and contrary public interest. This strange doctrine is not supported by statute nor common law. Neither individuals nor corporations have any right to come into court and ask that the clock of history be stopped, or turned back, for their private benefit.” – Robert Heinlein - 1939

Change happens and scares many people/companies. They want things to conform to what they already know.

Air BnB is a great idea and seems to have an overall positive outcome for those involved. Of course it seems that this country is all about new taxes and regulations with or without due process. It seems that New York and San Francisco are trying to make Air BnB and other space sharing companies fit into a mold that they are familiar with instead of gathering information and finding a way to benefit both sides of the issue.

Just so that you know Paula, there will be a whole bunch more of Pandora’s boxes opening up as people innovate and create new products and ideas.

There are some spreadsheets in the files section that do what the analysis web pages does and it is much quicker to do the "what if" calculations.

Once you have the correct numbers, then plug them into the web page for the bells and whistles.

How does this even get to court? The apartment is held responsible for the actions of two people who are not even residents?

This kind of thing makes me upset about that state of our nation.

Jessica,

Your first instinct was correct. Spend some of your own money consulting with a local Lawyer about this issue.

I have no idea what Indiana law says and you better be sure. Bill G. did not approach his advice with much tact, but you need to get good facts from a reliable source.

The folks here on BP have good intentions and tons of experience, but none of the comments I have seen so far deal with anyone who is in your situation in your state.

You may not have a choice as to whether they can operate the day care or not, but you can get good advice from a Lawyer to make sure you cover yourself and can ensure that the tennant runs his operation "by the book".

There are always taxes, unless it is a church.  When you file your deed there will be taxes and fees.

Is it rural, urban?

If you are now the owner, I would do a title search to make sure that there are no liens that you do not know about.

Can you fix it yourself?

I lived in the Philippines from 2004 to 2006 and can tell you it is a minefield to buy any property there, UNLESS your wife/husband or family are Filipino.

There is the rule of law (mostly) there, but the corruption in the civil system will boggle your mind.

I lived and worked in an around Asia for about 20 years and the only place I would feel comfortable buying property/houses is Japan. But, even then there is tons of bureaucracy to overcome. I have a friend who owns several SFH in Japan, but you don't "really" own them unless you own the land - which is another can of worms.

I have several colleagues who are married to Thai women and they seem to have good luck buying personal residences.  One personal friend owns several rental condos in Thailand and makes decent money doing it, but he has lived and been in business in Thailand for more than 20 years - I am telling you it is not for the faint of heart.

@Elizabeth C. has the right answer. Short of contacting the current owner and asking, the only other way I see is to talk to the agent.

Obviously the agent does not have to tell you anything and there might be some confidentiality involved.