24 November 2017 | 7 replies
If I recall correctly, that PA statute refers to the Unfair Trade Practices and Consumer Protection Law ("UTPCPL") for liability.
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21 November 2017 | 2 replies
General Liability – This covers you against claims of Bodily injury and Property damage.Bodily injury – This is the most common coverage everyone is concerned about and rightfully so.These are the most common types of claims.It can be anything from a tenant triping on a step, falling from a balcony, a guest or passerby slipping/falling on the sidewalk.Property Damage – Example, your building starts on fire, and causes damage to your neighbor.Your ceiling comes down on tenants property.
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24 November 2017 | 5 replies
Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.
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30 November 2017 | 14 replies
I am a practicing licensed broker with a decent size business (LLC #1), however this rental property is within (LLC #2) which has a couple other rentals in it as well...so when you say "real estate professional" I am a little unclear if my "day job" as a broker would give me this title since this property pertains to LLC #2 and is my "rental job" which is passive income, not active.We've rented the property for 2 years as originally intended, but do the fire and renovations, plus the market being higher than I ever anticipated in this area, I want to get out what I can and roll the money into a better location via a 1031 tax exchange.Thanks again for all your input!!
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9 January 2018 | 5 replies
It's not nearly as strict if you aren't licensed, but you should still do the above as good practice.
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21 December 2017 | 10 replies
My practical side says if I were living there, I'd want a self locking knob if I'm outside without my keys at least the bottom knob would be locked or ff their hands are full and they park in the garage they would typically close the garage door and then exit through the service door.Any thoughts or should I just add a passage lever there too along with a deadbolt?
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22 November 2017 | 8 replies
We didn't do it, but we could have.If you were to use a place like that as your base, it would give you great insight into the Frasier Valley but also be a decent stepping stone to places like Steamboat Springs, Summit County resorts (way pricier than Frasier Valley), making day trips to those places quite easy.
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23 November 2017 | 17 replies
I asked him how this is legal and they stated the practice is "wholesaling".
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21 November 2017 | 2 replies
If you are committed to selling your home on your own, however, there are a lot of established feeds on Bigger Pockets that will give you the best practices for doing so.