All Forum Posts by: Edward Segaar

We own a property in Ocala, Fl and we're just notified that our tenant will be moving out.  They gave a 90 day notice, however, our property management company stated they will not advertise it until the tenant has vacated.  I can understand not showing the property but to not advertise it feels like they're guaranteeing us to lose money.  I was wondering if this was a normal thing for management companies to do or should we start interviewing new ones once the turnover has finished?

I just finished listening to today's podcast and was confused on the llc setup.  I live in PA but own in Florida.  I can not set up a Florida llc because it requires a Florida address to do so.  If I were to setup an llc through Wyoming or Nevada, or some other state, which state laws would apply, floridas or the state the llc was formed in?  Second question, how could I transfer my properties to my llc without triggering a due on sale clause?

I have, she’s the one that brought it up.  This is my second rental and the first one I worked with a different broker who didn’t mention anything about it.

Is it a requirement to have animal liability coverage if allowing dogs and cats in the rental or is that already covered in the home insurance policy?  Is it breed specific?  If their renters insurance covers their pets does the landlord need to have it added as well? Only 1 insurance company I’ve contacted has mentioned this coverage and I am not familiar with it.

Not sure if this is the correct place to post this.  I have the opportunity to help a family member be part of a joint venture with them putting the down payment down.  They aren’t able to get a mortgage themselves so they would provide the money while the mortgage and deed would be in the others name.  An agreement would be signed, and the property would be sold in 5 years and proceeds split up appropriately. How would this be accounted for for general accounting and taxes?  Would an attorney be needed or another professional?  Still very new to all of this and want to do it right.  

We are closing on our first rental next week and have been looking for a CPA to help with the tax filing.  What is a reasonable cost for hiring a CPA?  We live in PA and buying in FL.

Looking to get my first rental and looking into a build to rent.  What are the pros/cons of this?  Is property management normally part of this arrangement?  Any thing I should ask?

what made you settle on the Tampa area?  Are you using a property manager?  Sorry, hope you don’t mind me asking

No units yet, just now getting to a point where we have the down payment needed.  We used to live in Deltona and we were planning on looking around there and the surrounding areas.

Thanks!  I’m leaning towards long term rentals, mainly single family but open to possibly medium term or multi family.