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18 March 2024 | 1 reply
The LLC is the business structure most use when investing in STRs.If you're extra worried about liability you could split the 3 properties into 3 LLCs but to me this seems like a situation of "If it ain't broke don't fix it"
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17 March 2024 | 6 replies
We had tenants(4 girls) for a year who just moved out from our house in Kirkland(Washington state).
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19 March 2024 | 46 replies
This is how we found out that the tenant wasn't changing the air filter, which is his responsibility (we supply the filters) and he also couldn't figure out how to properly use the new thermostat.The filter was so clogged it almost broke the furnace!
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18 March 2024 | 18 replies
I'm sure they are exhausted and my baby girl is pist.
16 March 2024 | 11 replies
Our tenant called us and said the handle on their toilet broke.
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19 March 2024 | 52 replies
Animal control broke the door and the apartment was destroyed, the energy was shut off so the fridge was full of magots.
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20 March 2024 | 193 replies
I usually end up spending $100+ with attorneys for simple questions and often they don't know my set up.The way I broke down my decision to move forward with them was that I looked at how much I had to lose were there ever a situation that arose that I need asset protection and how much I gained in tax savings as well.
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15 March 2024 | 8 replies
I had a group of teenage girls rent the home when Taylor Swift was in town.If you want to discuss Detroit, I'm happy to do it.
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15 March 2024 | 7 replies
I've encountered several situations where tenants not only broke their lease but also caused damages, sometimes even leaving before the lease ended with damages behind.To clarify, when I mention damages, I'm not talking about normal wear and tear but rather significant repairs costing between $5,000 to $8,000, which don't qualify as vandalism for insurance purposes.In the past, property managers I've spoken to have often discouraged pursuing tenants for these damages, citing it as not worth the effort.Here are my questions for you:- Would you pursue the tenant?