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23 June 2024 | 11 replies
To mitigate this risk without using an LLC, consider:Umbrella Insurance: This provides additional liability coverage beyond your standard homeowners insurance.Equity Stripping: This involves placing a lien on the property to make it less attractive to potential creditors.Land Trusts: These can provide some anonymity and protection while allowing you to maintain personal ownership.Insurance:Ensure you have comprehensive insurance coverage, including:Property insuranceLiability insuranceFlood insurance (especially important in Florida)Loss of income insuranceLegal Structures:While you've decided against using an LLC, consider consulting with a local attorney specializing in real estate investments to explore other potential legal structures that might offer protection without the tax implications you're trying to avoid.Property Management:Given that you're based in Europe, consider hiring a professional property management company to handle day-to-day operations, tenant screening, and maintenance issues.Market Research:Thoroughly research the specific areas in Florida where you plan to invest.
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22 June 2024 | 7 replies
An astounding volume of scuff marks and abrasions, nail holes, a ferw actual holes, it is beyond comprehension.
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21 June 2024 | 0 replies
Partner Driven added value to the W 136th Ave deal by investing $37,413 in comprehensive renovations.
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22 June 2024 | 17 replies
This ordinance is significant for its comprehensive approach to addressing source-of-income discrimination, particularly in the context of housing and rental opportunities.Key aspects of this ordinance include:The creation of a $1 million Landlord Risk Mitigation Program to financially assist landlords who accept tenants with vouchers, such as Section 8.Establishment of a landlord liaison position within the City’s Housing Department to facilitate communication and support.Landlords are allowed to deny rental applications based on individualized assessments, such as criminal convictions, credit scores, and eviction history, but the ordinance also sets clear guidelines for what can and cannot be considered.It includes a delayed effective date, allowing time for landlords and tenants to adjust to the new regulations.The ordinance also specifies that certain properties, particularly older houses that cannot easily comply with current codes, are exempt from some of the source-of-income requirements.The guidelines provided by Kansas City's Ordinance 231019, detailing what can and cannot be considered in rental applications, include several notable points aimed at balancing the rights and concerns of both tenants and landlords:Individualized Assessment Allowed:Landlords can deny rental applications based on specific, individualized factors, including criminal convictions, credit score, eviction history, alleged damages, and rent-to-income ratio.
21 June 2024 | 10 replies
This typically provides more comprehensive coverage for rental properties.Entity structure:Creating an LLC to hold the property can offer liability protection and potential tax benefits.
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23 June 2024 | 14 replies
Who is the authority that inspects to determine if the house meets rental regulations for safety?
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20 June 2024 | 0 replies
Partner Driven added value to the Church St deal by investing $60,000 in comprehensive renovations.
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21 June 2024 | 10 replies
Authorizes the eviction of a tenant from the property other than by the judicial eviction process set forth in the Wisconsin Statutes.Essentially this means that you cannot put any language in your rental agreement that states that if the tenant refuses to vacate at the end of a lease or after committing a breach, that the landlord is able to engage in self-help eviction.
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20 June 2024 | 10 replies
The lowest I heard is $150/transaction.Want training Keller Williams Realty has most comprehensive training but that comes from a thinner commission split and desk fee.
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20 June 2024 | 3 replies
My instinct tells me to name the seller as the Corporation on the contract and have the trustee sign as authorized party.