Courtney McCall
If you could start a property management co. from scratch…
19 July 2024 | 12 replies
The former group will bleed you dry, and the latter group is only good if the property is in good shape when you take it on and keep it that way.
Justin Whitfield
How would you invest $500k solely for the purpose of cash flow and FIRE
19 July 2024 | 21 replies
Then factor in the downturns, when investments go negative, your liquidity dries up.
Kevin S.
Question about disclosing foundation issue after it has been addressed.
15 July 2024 | 5 replies
Foundation/structural engineer determined a water downspout on one side of the house caused the soil erosion.
Daniel Bedell
How I Built An Amazing STR The SUPER HARD WAY!
18 July 2024 | 0 replies
True, I never built anything more than a treehouse when I was eleven, but technically a treehouse is a house so…All I had to do was work with Honomobo to finalize the design, get architectural drawings, receive HOA approval, get a county building permit, get a driveway permit, clear trees for a build site, find a logging truck to take those trees to a lumber mill, find a mill, find someone to take the lumber from the mill to my house, dry the lumber, take a semester of woodworking to learn how to make furniture, engineer/permit/build a septic system, get a well permitted and drilled, install a well pump, learn what a pitless is, install a water line from the pump to the foundation, install a pressure tank, connect the house plumbing to the septic and pressure tank, get the the power company to permit and install a podium for power on site, run power to the foundation, connect the power to the house, engineer a foundation, excavate, get two different sized steel wet plates fabricated, pour said foundation with wet plates mounted all at the same elevation in twenty-five precise locations, hire a crane, hire rigger, hire a welder, build a retaining wall because the dropoff from house to ground level was higher than expected, insulate the crawl space on my own by watching a YouTube video to learn how to load .22 caliber cartridges into a ramstead gun and shoot two and a half inch nails through insulation board into my foundation, badger a supply company until they finally delivered the right insulation board, get them to take away the wrong insulation board they brought that was broken by the wind and scattered into pieces all over the property, find an illusive 3x3 foot crawlspace door, learn how to use a core drill to make a four and a half inch hole in my foundation to install a code required fan to vent the crawlspace that my engineer thought was a stupid requirement and failed to tell me about, figure out what the hell going on when the Honomobo project manager tells me the measurements you gave him of the now poured foundation are wrong, have a panic attack, review plans with engineer, realized the project manager was mistaken, scream into the void, get the last available short term rental license application that had a thirty-day expiration window to pass all inspections, coordinate all subcontractors needed on install day, check with the sheriff about parking semi-trucks on the road, rent a porta potty, rent a dumpster, have coffee and donuts for everyone, oversee the Honomobo install crew that didn’t need overseeing, pass a blower test, pass state inspection, pass septic inspection, build a wooden curb to cover protruding rebar for an unpoured patio, build a temporary front door landing that could theoretically be be permanent so as to pass final county inspection, get a certificate of occupancy, pass the county short term rental inspection on the very last day before it expired to get the very last available license so that I could rent the house to make money in order to no have immediately have to sell, pour the sidewalk and patio.
Pamela Williams
Cleveland Lead Paint Laws for Landlords
14 July 2024 | 21 replies
Now it's true that lead dust samples are taken from the ground, usually around windows, but putting top soil on top of the ground would be the route to go there.
Sriram Hariharan
Possible construction defect. Can the builder be made liable?
15 July 2024 | 3 replies
The operation was checked and It was correct, they will have to cover the hole in the wall to dry the water that was on the floor.
Kee Lee
Tenant claims sickness due to Mold
15 July 2024 | 65 replies
I did have the handy guy clean and dry off the area on two or three separate occasions.Moving forward to two weeks ago, they are complaining of mold and now sickness, I hired a property manager to deal with this.
Conrad Legé
Criminal background checks
11 July 2024 | 12 replies
To keep it simple the blue states usually afford tenants the most protections so IL and NJ are no stranger to things like this, whereas Oklahoma and Wyoming might be.
Paige Seeley
First rental property guidance!
13 July 2024 | 9 replies
I like things cut and dry so there's no opportunity for misinterpretation of who is covering what.
Tzvi Friedman
Is a 10% Cap Rate High for a Triple Net (NNN) Property with Sale-Leaseback?
11 July 2024 | 1 reply
Sale-Leasebacks have inherent challenges because the tenant/seller is incentivized to market the property in such a way they get they price they want, but if the entity who signs the lease is weak and there's no personal guarantor, they could stop paying rent the day after you close leaving you high and dry with very little legal remedy.I don't know your market, but in my eyes, any 10% cap offering is either an extremely weak tenant OR a tenant that has very little term remaining with no plans to renew.If I were, you I would very seriously consider how much I like the real estate and what my odds would be of refilling the real estate with the same or better rent and/or a better credit tenant once this tenant goes belly up.