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All Forum Posts by: William Bentley

William Bentley has started 9 posts and replied 23 times.

Good afternoon all,

I have a tenant who wants to move in her boyfriend who is currently on parole. She is an amazing tenant. No issues. Said that I would have to talk to the parole office. Haven't been in this situation before and looking for a little feedback. Legally, where does this put me at? Am I obligated to anything as far as his parole goes? If they break up, what does that do for me and her lease? All feedback is appreciated. Thank you.

PS: I am in Ohio

With interest rates increasing, inflation, world disasters, etc, just curious who you guys are using and/or getting the best insurance rates with? Appreciate it. 

-William Bentley

Post: Cash out Refi vs HELOC

William BentleyPosted
  • Posts 23
  • Votes 6

As I'm learning and trying to find ways to fund my next deal, I've read David Greene's Book on BRRRR and had a few questions.

1. What's the better option for funding a deal, using the cash out refi or a heloc on the property?

2. How do you some of you choose which option to go with?

3. Is one option better than the other? Or preferred?

Quote from @Nathan Gesner:
Quote from @William Bentley:

Don't reinvent the wheel. BiggerPockets sells a Lease Agreement Package for $100 that is better than whatever you'll put together from scratch. They are written by investors, attorney approved for each state. You can edit each document to fit your personal style.

Look under TOOLS at the top of your screen.


 I like it. lol. Rather just paid the $100 and be done with it. Thank you. 

I asked in another post about getting a lawyer and was told to save money and to know my renter/landlord laws and be specific about what I put in my lease agreement. 

What are some key components you guys include in your lease agreements?

Thank you for the time. 

-New guy Bill

Quote from @Henry T.:

1st investment property? Forget the LLC and especially the attorney. Insure the investment property and carry an umbrella policy for extra protection. Much easier, no paperwork, or expenses, and you'll sleep better. If this is a rental, the best thing you can do is very strict screening and know the landlord/tenant laws of your state, then a very strong lease with a hundred particular requirements the tenant must obey. Ask memembers here for advice about what to include in your lease. This will keep you out of trouble. Good luck!


 First time I've heard that type of advice. I do like asking what people include in their lease. I'm getting ready to renew so that will be perfect. So do either one of you keep a lawyer or no?

I've purchased my first investment home, which is currently under my name. I would like to transfer it into a LLC, which I've been recommended to do by several. What's the process?

I also hear advice on keeping a lawyer. How exactly am I doing that? Paying one for retainer? Or just having a real estate lawyer, that when I need can do legal work and pay for what ever is needed? 

New guy advice. Much appreciated. 

Post: Major Red Flags from Home Inspection

William BentleyPosted
  • Posts 23
  • Votes 6

All great feedback. Thank you. Inspection came back some minor details. Biggest issue is two soft spots in the flooring inside the bathroom which will need to be fixed. Inspector said it is subflooring and could be either the plywood or it could be in the joist. They had a bathroom leak that caused flooding into the basement. Previous owner was able to get out and get the issue resolved quickly. I like the idea of getting plumbing out asap to check everything.  Also they recommended getting a vent fan placed into the bathroom. 

Post: Major Red Flags from Home Inspection

William BentleyPosted
  • Posts 23
  • Votes 6
Quote from @Michael Lewis:

plumbing can be broken down into several layers, incoming from water source (City, utility) to the building problems (is usually a utility problem / fix) once the incoming water is inside the building it is your problem. If the leak is above the lowest floor cement, it should not be too big a deal, unless all the old copper pipes are ready to be replaced.  Sink drips, p-trap drips, faucet drips are minor in the whole house plumbing. Replacing a building wide boiler is very expensive ($10k - $20 k), hot water tank ($500- $5000) Water softeners about the same ($500- $5000). 

Make sure that building managers / property managers all know where the water shut off valve is if you buy the building, comes in handy if there is a major leak, to shut off all water fast. 

Dish washers, under sink leaks, faucets, running toilets, are common, should be fixed prior to any new tenants. 

ON THE OTHER END of plumbing is vent pipes, and waste water pipes (mostly black PVC) carrying waist water from building to the city street sewer lines

I have heard of landlords having the entire building snaked (roto rootered out the pipes) once a year as a preventative maintenance measure, as many tenants pour grease down kitchen sinks, and wet- wipes (flushable wipes are very hard on plumbing) down toilets causing back up clogs.

Most of the leaks on the waist lines are in the p-traps, toilets, clogs in the main drain line and sewer back-ups. 

Over time the waist lines (used to all be cast iron, will need to be trenched and replaced with PVC out to the street connection, as the cast iron breaks down over time, allowing tree roots to enter and clog / block the exiting waist water.

You best best is to call a local plumbing company, ( plumbing 911, mr plumber, rotor rooter) and have them come out and give a quote on repairing all the items the inspection found.

The plumbing issues on a duplex may be more manageable then say a 100 plex with a broken waste line or main water in line, but size and scope is everything. You can drop $20,000 on brand new PVC waist lines, permits, trenching, labor, and covering up the trench on a duplex, or a brand new leach field for a septic system.


 Amazing feedback. Thank you

Post: Major Red Flags from Home Inspection

William BentleyPosted
  • Posts 23
  • Votes 6
Quote from @Chris Seveney:

@William Bentley

Big ticket items - foundation issues, knob and tube wiring, asbestos, lead paint, roof/water issues and plumbing issues


 In regards to plumbing issues, what is your cut off on damages? This potential property I'm looking at, has a few leaks but they seem minimal. Obviously this is a rookie eye looking at it with no plumbing experience or history.