All Forum Posts by: David D Painter

I have found that the cheap, battery powered fake cameras with the flashing red lights are a great deterrent.

@Natalie Kolodij

Katrina cottages are still viewed favorably all along the gulf coast.  There are currently several for sale in the Biloxi, Mississippi area. In fact Gulfport/Biloxi has one or two pocket subdivisions of nothing but these cottages. They seem to be popular as vacation rentals. Be prepared for confusing and expensive insurance costs. I winter in Biloxi and live in Wisconsin. The difference in insurance is huge. Please get a quote and see if anyone will insure a property before you buy. It can vary wildly.  Like you I love the tiny houses. I built and happily lived in a 240 square foot home in the mid 90's. I could easily do it again. Check out Spur, Texas for more tiny homes. Good luck!

Condemned usually means that it's uninhabitable. That could mean anything from unsafe steps, non functioning or inadequate heating, leaking roof, to a biological hazard such as human or animal waste. That won't scare everyone off. These are generally the types of properties where I can make a few big bucks. Good luck!

As a buyer I have in fact talked directly to owners in the past to clear things up without getting info 3rd hand. My agent doesn't mind this. It has worked for me and all involved at the time. Good luck! 

It's nothing too complicated, your CPA will file a Schedule E showing total income less expenses and will have to depreciate the unit. Under some circumstances more schedules need to be filed. This will all be added to your personal taxes. Good luck!

Sorry I posted at the same time as Marco and he said it all!

Call the utility company. In my area I can get average monthly cost for the past 12 months easily on line.

If your father was in his right mind, and wasn't coerced I would suggest you just keep an eye on things to make sure things are done legally and in accordance with the will. You obviously have concerns. As an heir you should be kept informed and will be likely be presented with a settlement sheet showing assets and expenses that you might need to sign off on. This is my experience with probating wills in 3 states and might vary in the state of your father. My sympathies.

I doubt any judge would find in favor of the landlord. Frankly it sounds like nit picking.

You most certainly can lower the sales price. Just counter the current offer with the new, lower price specifying you won't cover said repair. 

It's a lot of work to get into any business. As far as RE, I see people making money in upmarkets and down markets. You just have to use different tactics. And you'll constantly have to adapt to the current markets and laws. For years people have been outbid on houses so that's nothing new. If you wait for the perfect time you will likely never do anything.