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Pitfalls you have seen
When people get into Real Estate investing for the first time, they generally are pretty Doe eyed. They have dreams of making it big but seldom have a realistic vision for what that will entail. It is not uncommon for...
Michael Lewis
Multiple SFRs in one LLC
Is there any benefit to putting multiple residential investment properties in one LLC? If an issue were to arise it can potentially affect all properties within the LLC. I’m in CA and have properties in 3 other states...
Jennifer Lund
K-1 not sent out until fall for prior year?
I found a syndication that I feel comfortable with. Prior to investing, I asked about the K-1 planned delivery. The response surprised me: "In the fall, we tell our investors to file an extension". Have any of you enc...
Kara Doenges
Selling to tenant without an agent
I am hoping to sell one of my Birmingham-area properties to the current tenant. I am located out-of-state and would like the process to be simple and affordable. I’m looking for suggestions on the most efficient route...
Linda Thomas
Do I have to give an explanation and reason
Hello all,i sent tenant certified letter with 60 day advanced notice of non renewal of her lease. She is sending me tons of text messages asking for a reason as to why she needs to leave and telling me she has no wher...
Michael Sherwood
pet deposit
What is your policy on pet deposits? I am considering renting to a couple that has a dog and also works at an animal shelter ( so they might have an occasional additional animal) The place needs new carpets so I wa...
Arturo Borges
Creating a Pro Forma
When underwriting a potential investment, do you utilize the T12 and based off of it you create the Pro Forma? Or you shouldn't mix them up.Thank you in advance!
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Rogue tenant tampering with smoke detectors
I have a tenant who just randomly “fixes” stuff without telling me. For example changed out hard wired smoke detector and messed up the ceiling in the process. I want to keep better tabs on the situation by doing reg...
Paul Bryzek
Using AirBnB as a Tenant.
Hi Everyone,I wanted to get your viewpoint on the idea of securing a property from an owner on a month to month lease agreement, only I would then turn around and become an AirBnB host on that same property. This is ...
Kyle Robarts
Who is responsible for cleaning during construction of a SFH?
Had this issue a few times. My GC wants me to instruct other subbers (eg electrician, hvac, plumber) to clean up after their work. Is the burden on the GC to clean up after other subbers’ mess?