All Forum Posts by: Billy Smith

I keep a folder for each house ,when I spend money on it goes into the folder for that house .Come tax time I simply hand over the folders .The trick is not wait to put the receipts in the folder,I file it  that day or next .

Unless they were informed of the tree being a hazard before it fell  ,a act of god means you pay the bill .

I inspect all trees in my area .fact my neighbor told me that my tree was leaning over on her house and it was,she  asked if would take care of it .I did do not want a big claim ,so I took it out .

Folks using 2008 as a mirror of what can /did happen is a mistake.

Mainly because 2008 crash was from massive amount of bad mortgage loans/fraud that shook the foundations of huge wall street banks that had bad investments i.e. mortgage /insurance Derivatives on such loans around the world it spread like the flu of 1918 around the world.

I just don’t see the real-estate getting slammed like that again the loans on the books mostly are solid loans.

Still a great demand for homes here below 300k, builders not keeping up or not wanting to keep up?

So, the current market has pushed homes up to levels that has put the big profit investors trying to reinvent the wheel still looking for the big margins of the past.

Big fish seem to weather the storm ok no mater happens.

Did you turn off the street main ? you can buy a key form Home Depot to turn off the street main ,having said that the water department can get pissy about turning the street main off you may need to call them, each area is different .

Originally posted by @John Warren:

@Thomas Hatley just make sure you have your attorney on speed dial for the eviction and that you have the money set aside. I recently acquired a project in Berwyn, IL where we had to clear the whole building for construction. I ended up having to evict only one of the tenants out of 16, and the process took me less than three months in a "tenant friendly" state. I know what I am doing and surround myself with professionals, so I can get evictions done in a timely manner. I often times hear from others how evictions take so long. Just make sure you are educated, follow the law, and have a great team to help you. 

I second this idea have a lawyer ready to go wash your hands of this quick and correctly .

The reason for not going to auto set is a tenant not paying the bill then the utility is shut off then put into your name.

Then you are paying the bill for the utility.

If it hits the M..LS then you are dealing with numbers that will not work for a investor .Networking with folks ,word of mouth is where I am now .

Ok tks 

What part of KC are you working in ?What type of units do you install on most HVAC jobs?

Well done you fixed the mechanical correctly most flippers cobble mechanical together just enough to pass inspection.