All Forum Posts by: Kyle Hipp

if you are doing a big color change and need to go with a primer first. I recommend getting the primer tinted to the color you are painting the rest of the room. Then when you paint with your good paint (paint and primer in one) you should have great coverage

John, anybody can sue for anything. It does not seem that the tenant would have a case as there is no indication of negligence. I would be wasting a lot of money if I accepted fault for everything that caused an issue in my life as acts of God are not liable to the landlord

file the eviction and get the judgement. The other option is to visit him in jail and have him agree in writing to move out and give you permission to move his belongings or have him arrange to have someone else pick them up. You are most likely just going to have to move forward with the eviction.

most likely not but could depending on the riders in place. Most likely path would be on the auto insurance however I would never file such a claim either way...

Unless the siding was not attached correctly and your were negligent in your maintenance of the property then you are not responsible. That would be on their auto insurance, possibly renters insurance. 

If a tree branch comes down in a windstorm on a vehicle of a guest at my house, I am not responsible unless I had reason to think that the branch was bad and was going to fall. I had a neighbor at a property habe a dwelling fire and it melted some siding on my properties garage. However that person was not liable as it was not intentional and they wete not deemed negligent.  

up up public record and contact the property owner. Otherwise you can usually replace the fence as long as you face the fence on your neighbors side

It doesn't seem to be a great investment but I don't think that is your goal. The expenses you have from the sellers I imagine have taxes and insurance included. 

I do not know for sure but the majority of your purchase would be for land so you would not get hardly any tax deductions for depreciation. You would need to set aside money for reserves to account for the possibility of drilling a new well if needed. 

I would say the price should be closer to  $500,000 As it would then be a 1% investment. Being that monthly rent is 1% of sales price. If you have reserves to cover expenses and can raise the rents it should support itself barring any setbacks. I don't count on any appreciation when I analyse a deal so once you pay it off you have a $500,000 property that provides $45,000 a year of cashflow

So would you just own the land and rent the land with owners owning the cottages and selling them at their discretion?

Taylor is correct

It does not appear you have figured in vacancy expense nor capital improvements. If you are looking for an investment this is probably not it. However if you are looking for a place to through some money nd to work for the next 15 years until you loan is paid off then it is not the worst as your motive is not to make money but spend it on something you enjoy