All Forum Posts by: Greg Parker

Yep, that will be step one.  Have an engineer do a perc test to see how many septic tanks you can get in that type of soil.

The City of Montgomery is the Capital of Alabama with a robust economic environment that has produced multiple awards of excellence at the Chamber of Commerce level. As consecutive Mac Conway Award Winners for Excellence recipients, Montgomery is well positioned through their "Imagine a Greater Montgomery" initiative to re-shape the city vision. The Economic Development there is focused on building competitive regional talent, diversifying the regional economy, transforming Montgomery's image and building diverse community capacity.
Major economic drivers to the area include Hyundai manufacturing, Maxwell & Gunter Air Force Base, major Amazon distribution, Alabama State Capitol, Alfa Insurance, Kinpak, H2 Pharma, Dollar General transport/logistics, Dow Chemical, and Conner Industries to name a few. 
Overall, the City of Montgomery is highly focused on attracting large companies to its' vastly diverse and well trained workforce.

REI meeting tomorrow night at Budget floors at 6 PM. 32 Hunter Lane. MHA will be there to talk about sec 8.

2. Alabama

Alabama residents enjoy a low cost of living and a thriving economy. The state’s housing is also ranked as the fourth most affordable in the country.

Alabama currently has the second-lowest average property tax rate in the country at 0.4%, which helps investors keep more of the money they earn. The state doesn’t have rent control laws, but landlords are prohibited from collecting more than one month’s rent for security deposits. They do, however, have up to 60 days to return a security deposit after a tenant moves out.

If an eviction is necessary for nonpayment, landlords are required to send a seven-day written notice of the payment due. The landlord can then proceed with the eviction process in court if the tenant does not remit payment. Landlords can also evict tenants for illegal activity with a seven-day notice. If a landlord needs to enter a property for an inspection or repair, a two-day notice is required.

Thankfully our governor here in Alabama recently passed anti-squatter legislation.  So, now rather than it being a "legal" issue, you just call the police, they are forcefully thrown out.  Resist, go to jail.

Some guys are using this as a preventive measure.  If you have a potential tenant that "might not" be a good payer, just don't sign a lease.  Let them move in with a deposit and first months rent.  Next month if they don't pay on the 1st, call the police on the 2nd.  No lease, no ground to stand on.

Depending on the state, you will need a designated agent for your LLC, in that state.

Cash buyers will be serious, not just wasting his time with offers, 30-45 day closing delay, inspections, appraisals.  If title is clean, a cash deal can close in 7-14 days.

The entity formation rules will definetaly be different for each state.  

And, add a clause about gold-digging..lol.  That weird uncle everyone has will be glad to help take care of any family member disputes with unconventional methods, boating accidents, hunting accidents happen every day.

 If the child dies but I am still alive, nope.  Son n law is SOL.  I never liked that guy anyway.

Just work it out with multi-member LLC's. My wife and I have a child as a member on each property(last man standing gets it all). And have the deed/title worded the same.

Divorce, always be the bigger person, let them have it all. Karma will sort it out. 

Have no debt.  If you owe the bank 1M, you have a problem, if you owe the bank 50M, the bank has a problem.