All Forum Posts by: Charles Carillo
Charles Carillo has started 81 posts and replied 2755 times.
Post: Canadian corporation Single family home purchase

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
We have partners who are foreign investors. DM me, and I will send you contacts for attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.
Post: Should I get an LLC or just umbrella insurance for Ohio rentals?

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
Why not get both? You can add additional properties to the LLC as well. Your risk tolerance and net worth depend on how many future properties you would add. I also feel $1,000 is a bit high to set up an LLC and QuickClaim a property.
Post: What insurance company will cover multiple units?

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
I would search for an independent insurance agent in your area. They will do all of the legwork for you. Captive agents are only able to sell their own products.
Post: Tenant wants LL pay for high electric bill due to high cost electric furnace

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
When their February electric bill comes out, request a copy of it and send your portion of the electric bill directly to the utility company. I would make a copy of the check and make sure to write their name and account number on it. They can then pay the rest of it. Offering credits might get messy.
I don't believe you will succeed in suing the previous owner. I am not sure why an inspector would not test the furnace. Furnaces are one of the most expensive items to replace in a property. Additionally, it's working; it is just not very efficient.
Post: Recommendations for Canadians Investing in the USA?

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
We have partners who are foreign investors. DM me, and I will send you contacts for attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.
Post: For more experienced investors

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
My first deal 19 years ago started as kind of a mess, but I got it cash flowing after a few months. My second deal is where it all clicked for me.
Post: US Entity structure for Canadians.

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
We have partners who are foreign investors. DM me, and I will send you contacts for attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.
Post: Lease cancellation notice time period

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
How did you switch their lease from yearly to monthly? Did they agree to this? I would offer them cash for keys, or contact your attorney and start the eviction process if they decline. Most tenants cannot catch up with rent that is 3 months behind.
Post: Canadian Investing in US - Can we borrow against stock Investments as a Canadian

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
I would reach out to Canadian brokerages and see if it is available. It is available with most if not all US brokerages, but the rates vary greatly.
We have partners who are foreign investors. DM me, and I will send you contacts for attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.
Post: received a notice that tenant trying to send rent so an App

- Rental Property Investor
- North Palm Beach, FL
- Posts 2,850
- Votes 1,946
Did the tenant discuss this with you or ask you beforehand? I would not be rushed into using it. I would request they pay rent the usual way, and then you can decide whether or not you want to utilize the app in the future.