All Forum Posts by: Joe Lambert

I did one of these last summer.  This video is worth watching.  It ran me $30-35 a foot, but I'm in the midwest.  Took them 2 days and I only had to remove my baseboards. 

https://youtu.be/R0igW73KjQI

The city of Omaha is currently going through a push for more regulatory oversight from certain interest groups in the city. This came about due to a recent finding of poor conditions in a multi-unit complex that housed refugees. The city currently has a complaint based system in place in which city inspectors react to complaints, but these interest groups feel more needs to be done. Our mayor is putting a lot of weight into this poll to pass this ordinance. 

Please take the poll below and help support responsible landlords in Omaha. It takes about 60 seconds.

https://www.warple.com/entity/0163a422-2b09-6a2d-5925-fa792b3c8e23?fbclid=IwAR0UHuSpDD-PtuhUA2EQZwmSObWZO1ciNwKlx-q9SM_l_8b5gnSPgi96h2A

The city of Omaha is currently going through a push for more regulatory oversight from certain interest groups in the city. This came about due to a recent finding of poor conditions in a multi-unit complex that housed refugees.  The city currently has a complaint based system in place in which city inspectors react to complaints, but these interest groups feel more needs to be done. Our mayor is putting a lot of weight into this poll to pass this ordinance. 

Please take the poll below and help support responsible landlords in Omaha. It takes about 60 seconds.

https://www.warple.com/entity/0163a422-2b09-6a2d-5925-fa792b3c8e23?fbclid=IwAR0UHuSpDD-PtuhUA2EQZwmSObWZO1ciNwKlx-q9SM_l_8b5gnSPgi96h2A

I haven't gotten into MF or multi-family, but have enjoyed the 20% appreciation on my total SFH real estate assets and the 20% annual return on invested cash over the past 5 years. I also like having the option to sell off 1 versus the entire unit if I need access to capital. If you buy nice homes in nice areas, they are very easy to manage.

Yes, against any fees or inspectors in homes. How many of our tenants want a city inspector in their home?

The ordinance is under discussion.  As a responsible landlord, I don't receive any added value by paying an annual fee to regulate lazy landlords.  

If a fee schedule that Minneapolis is implemented, the buying of SFH and converting them to rentals will dry up. It will cost you $1000 just to convert it, which is crazy in my opinion. On the flip side, rents will increase because SFH rentals will decrease in Omaha.

Minneapolis fee schedule seems quite steep.  $1000 inspection fee if you sell your home?

http://www.minneapolismn.gov/inspections/rental/in...

Any landlords following this new proposed ordinance in Omaha? $50 a SFH and $6 per MFU seems kind of steep if that is an annual due.

https://www.omaha.com/news/metro/landlords-say-they-ll-fight-push-for-more-inspections-of/article_70040401-a769-58b1-a5c8-352c2e828f6e.html

It’s not worth gaming for the amount it would save. I’ll probably just keep things the way they are and see how it turns out. My rentals are under a sole proprietor, have a W2 job, and partially self managed. 

Is it possible to suspend the depriciation clock on a SFH utilized as a rental. The reason for this is that the next decade will be a very low tax era. The addition of the passive income deduction will lower my taxes on an already decreased income tax rate. I'd like to push all tax write offs to the non-Trump tax cut era.