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19 August 2021 | 7 replies
In the event the tenant refuses to vacate, the legal protection that a signed lease gives a landlord does guarantee the tenant will eventually be forced out but not without a painful, lengthy eviction process.I have lived through a tenant not vacating and it is a nightmare but what I learned from that experience is that it is best to avoid the circumstances leading up to a refusal to vacate.
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31 August 2021 | 7 replies
There's a few reasons they probably have that in their contract:previously got burned from negligenceknow they are low quality and want to protect themselvesunreasonable professionalsI understand PM firms have to protect themselves but there also needs to be a level of accountability.
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9 September 2021 | 101 replies
Hello Jack I am starting out in real estate and I want to know what is the correct way to set up your first LLC to protect your new and old assets.
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30 August 2021 | 11 replies
Having a portfolio protects you when things go wrong, and they will at some point, by spreading the risks over more properties.
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31 August 2021 | 11 replies
Free yourself, like a gazelle from the hand of the hunter, like a bird from the snare of the fowler.Proverbs 11:15: Whoever puts up security for a stranger will surely suffer harm, but he who hates striking hands in pledge is secure.Proverbs 17:18: One who lacks sense gives a pledge and puts up security in the presence of his neighbor.Proverbs 22:26: Be not one of those who give pledges, who put up security for debts.These say 1) don't risk too much with loans requiring collateral and 2) don't get a loan with a sketchy dude because you're going to get caught holding the bag.Romans 13:8, too: Owe no one anything, except to love each other, for the one who loves another has fulfilled the law.This warns against debt that incurs an outstanding obligation.
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26 August 2021 | 8 replies
I don't know how it works in other states, but smokers are not a protected class here.
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26 August 2021 | 3 replies
In Florida, the suffering has been far less than other states as our Governor (who can't stand to be told what to do) lifted our moratorium in September 2020.
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1 September 2021 | 2 replies
When you are setting up your LLC what is the best way to protect your new and old assets.
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27 August 2021 | 10 replies
Then the majority of the rest of the income should go to your company because you have really created the ongoing value that drives revenue to the property.The exception can be when and owner or developer has painstaking developed an incredible product they are entrusting you with where you don't have to do any of the initial set up and can more easily take the reins on ongoing operations of the property.The best property managers are picky and often turn away lots of owners because they understand they have a brand to protect and because they know they bring a lot of value to the real estate owners or developers.My goal as developer and investor in this niche now is to create an incredible product to hand off to professional high end manager that knows how to be host to guests and is hospitality focused.
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10 September 2021 | 3 replies
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.