All Forum Posts by: Whit Bowersox

Its completely subjective.  If you are not familiar with structural details or big ticket items (pool, roof condition, plumbing) I would say its worth it to have an inspection done.   

no issue there

Thanks for the reply Christian.  Ill give your guy a call.

If these are the single pane aluminum awning windows most commonly found in older South Florida homes, you can cut the glass yourself, or have your guy do it.  I have changed several on my own home.  I buy my glass at Home Depot or Lowes, and I used a $2 glass cutter from harbor freight.  The glass cutting is very easy, the window trim is the real pain in the neck part, re fitting the the trim can be tricky, but it is a relatively simple process.   

PMs arent turning up much.  Anyone in the Orlando Kissimmee have a great painting guy and flooring guy?  Having a tough time getting a quality guy that doesn't break the bank.  Thanks.

Thanks Chad.  This has been something I have been fascinated in learning more about.  Ill take a look at the website.

how do you find out WHO is foreclosing.  I have never seen an answer in any of these posts about county auctions.  

I am going to inspect an REO tomorrow that the listing agent listed having liens. The property is in rough shape, (roof falling in, looks like it hasn't been maintained in years) so until I find out what the liens are Im assuming they are code violations that have racked up some hefty fines. The listing also says I need to sign a hold harmless agreement, im assuming this is so the bank can free itself of any liability of the know code violations. So what Im wondering is , say I get a killer price on this home and go to closing in which at that time i can only do so in my right mind if the bank will cover the expense of the code violation liens in order to transfer title. So now I have the house , do the code violations get served to me as the new owners, or do they usually automatically start racking up fines daily to me from the day of closing? I would think I would need to be notified (in this case probably very soon) as I intend to fix the problem immediately. The other thing im a little unsure about is being fined while the city takes its sweet time to issue a permit for the re-roof? Well anyways, im ready to dive in to this mess! Jscott? you out there man?!

You know I really didn't want to go through the hassle, but having not been familiar with awarded lawsuits other than the horror stories I hear about I just wanted to be worry free. I considered upping the liability to $1mil, but not sure if that would be satisfying...... any thoughts .......

All right guys, been researching the site for a few days and love it! I want to see if I can score an A on my report card. So I had a home that I had to move out of and relocated to another state. As I am now entering the realm of investment property management I am now feeling the need to protect my personal assets by doing the classic "Put my rental into an LLC". Right now I have the property insured for $300,000 liability. So this is what I want to do.
- Don’t use a lawyer.
- Form the LLC and warranty deed the property to the LLC as not to terminate the current title insurance policy. It’s my understanding that this warrants me to be liable for the title after the transfer rather than a quit claim deed which would not therefore terminating the policy.
- Add the LLC to the rental insurance policy as an additional insured.
- Have tenant sign Estoppel Agreement in which the LLC assumes the current lease.
- Don’t care what the mortgage lender says, just do it!!

Well that sums it up. I’m sure most will score me an F since I hinted I didn’t want to use a lawyer. Great site though. I’m sure it will be useful for my future investment endeavors!