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6 September 2024 | 19 replies
A month ago I closed on my first rental property and I am already feeling the pains of working with a lackluster Property Management company.I purchased a new construction SFH in Northern Dallas through a turnkey company.
2 September 2024 | 9 replies
Sometimes if you are renting the unit and it is not insulated properly, then you hear footsteps and conversations from next-door units, so tenants complain a lot, but there is not much you can do.Also, one time the unit above mine leaked water into my unit, and the HOA said I needed to talk to people living above mine to fix the issue and they didn't have the fund to fix the bathtub from leaking into mine, so I had to pay for the repairs.Sometimes working with HOA and is painful, but other times is easy if the unit does not have problems
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3 September 2024 | 32 replies
Scott, I feel like we have to distinguish between the new person who honestly doesn’t know and may be being misled by the guru hype, and the hostile newbie who post after having already paid for a mentorship and either psychologically can’t “handle the truth” or is trying to recover his money already spent on the program by receiving compensation for “recruiting” other “innocents”.
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31 August 2024 | 12 replies
From an income tax perspective, the LLC provides you with absolutely no benefit.Even from a "anonymity" perspective - if that is a Single Member LLC, the K-1 from those syndicates is still required by the IRS to be issued directly to the beneficial owner - you.If you don't make it a single member LLC, say your spouse is also a member, now you have a partnership tax filing - if it holds a number of LLC interests, it is now a partnership filing that is a pain to file to roll all of those activities in and report it on to your personal returns.In short...most likely it is best to keep it simple.
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29 August 2024 | 4 replies
Not quite as good, but it alleviates most of the pain.
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26 August 2024 | 1 reply
Any Psychology guidance is greatly appreciated.
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28 August 2024 | 2 replies
What are any pain points that he has that you can help with?
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29 August 2024 | 9 replies
It is a pain but not insurmountable.
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27 August 2024 | 1 reply
Unfortunately, I do own investment properties abroad that are still financed, so any lender that has experience with this would be much appreciated, the lack of experience in that regard has been a painful, and long underwriting process at first when I bought and then again when I refinanced my home a few years ago...
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28 August 2024 | 9 replies
The pain is removing all HVAC, plumbing & electrical so you can sister or replace a beam or joist and then put them all back in.