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30 November 2024 | 12 replies
Quote from @Kar Sun: My tenant's lease is coming to a close and I am relieved she will be moving soon.She has been paying on time but has been extremely unpleasant and rude.While the money does not smell my mental sanity is more important than money in this case.She sent me a registered letter stating that she feels "unsafe because we have not done the fixes the way she wanted it".She requests to have her witness for a walkthrough.In my state a walkthrough is required but I am not about to grant it to her to bring any witnesses as that is not in my contract.If she feels unsafe she does not have t be present.I also do not treat a final walkthrough with a tenant as a final sign off.This walkthrough does not include a detailed inspection of the plumbing and the appliances that will be done after she departs.This is simply for the visible cosmetic issues and should take less than 1 hr.
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5 December 2024 | 8 replies
If you’re concerned about paying personal capital gains tax, remember that flipping the property means you’ll take the profit all at once, while with BRRRR, you can defer some taxes and have the property generating income.So, here’s what I’d do in your shoes:If you can make a decent profit flipping and then use that cash to roll into your next investment, you might be better off taking the cash, at least for the first project.
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6 December 2024 | 12 replies
Any advice on this would be extremely appreciated!
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2 December 2024 | 2 replies
Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!
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4 December 2024 | 18 replies
If you are truly concerned with liability, these should be your main concerns and focus, not whether to create your LLC in Wyoming or elsewhere.
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5 December 2024 | 25 replies
I understand your concern it’s always important to ensure everything checks out.
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2 December 2024 | 5 replies
As far as the garage concern, it was not included in the lease.
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4 December 2024 | 37 replies
What made us more suspicious is that they insisted that our team send POF exposing our full account numbers which they were extremely insistent about.
28 November 2024 | 3 replies
You can make SFR work but extremely tough in traditional sense.