All Forum Posts by: Tim B.

I am buying my third rental property and want to hold this one in an LLC. I live in SC but the property I am buying is in NC (we plan on moving back to NC eventually). My question is: If I register my LLC in SC where I live, can I hold NC property or do I need an LLC registered in NC or both? Also, should I be my own registered agent or do I need one in NC where the property is located?

No, don't need any money out. I just saw the rates were low - so if I could drop my rate by 1% and get into a 15 year loan it would save me money over the life of the loan. It looks like I could only drop it by maybe 1/2% since it is not my primary residence so that probably wouldn't be worth it. Was just wondering if anyone knew of any fancy financing methods for owners that might exist to get in on the lowest rates. 

I'm looking for some advice on refinancing a rental house I have. It currently has about 26 years left at 4.125%, we refinanced it as a primary residence when we were living in it 4 years ago.  I was looking at refinancing again when I saw rates in the mid to low 3% range but that rate jumps up some if it is an investment property. Is that a pretty standard thing? The house is worth about $215k and the loan will be for $140k.

I have had American Homeshield the past year (my first year as a landlord) and have been fairly satisfied with them except I think they are a little expensive ($41 per month and a $125 copay each time they send someone out). I was wondering if anyone has had good experiences with other companies. My contract is up next month and I'm shopping around. I saw Total Protect for one, they are cheaper but I don't know anyone who has had experience with them. Thanks in advance for replies.

Any other opinions on this? I like the way I usually get several perspectives from the folks on this forum.

Thanks Ian. So I assume this would also apply to the late fee, the management company is entitled to 10% of that too? I forgot to mention (if it matters) that my monthly statement from them lists the rent and pet fee as separate line items on the statement.

I was reading over my contract with the management company that manages my property and got curious. The contract reads that the management co. is to receive 10% of collected rent. I have a situation where I discovered the tenants had unauthorized pets in the house. Instead of terminating the lease I chose to charge them an additional pet fee of $200/mo which they agreed to. The property management co. immediately began keeping 10% of this extra fee also. I am also due a late fee this month and am wondering if the mgmt co is entitled to 10% of that also. I'm starting to think that I should get 100% of any fees that are charged. The relevant section from the contract is below:

Thanks Robert. Normally I would just go talk to the neighbor but, as I stated, I live in another state so that's not possible. I was just wondering if I would incur any liability or anything if I removed it without talking to the "owner" of the tree.

Thanks for the responses, that's what I was thinking.

So next question, If I arrange to have somebody remove the tree from my property, what if the neighbor comes back and says that it was his tree and he wanted the wood? It is a pretty large oak tree and I'm sure it would make good firewood. I'm just trying to cover all angles before I pay someone to remove the tree.

Hi folks. I am a new landlord and don't know all of the ins and outs, I've found that this is a great place to get advice from the more seasoned landlords.

My tenants called and said that a tree had fallen in the yard. The tree was actually in my neighbors back yard and has been leaning over my property for several years but it was a healthy tree. The recent ice in NC has apparently been too much for it and it fell into my yard. My question is: Who is responsible for cleaning it up? I am in another state and we never really knew those neighbors (their property is behind ours) so I can't really contact them directly.

Thanks in advance for the input.