All Forum Posts by: John T.

@Luis Lopez

What are the proper steps to getting it rented out? Hire an experienced Realtor.  Complete repairs and make-ready.

What do I use to advertise?  Hire an experienced Realtor.

Who do I contact for a proper lease agreement?  Hire an experienced Realtor.

Do I need a lawyer?  No.  Hire an experienced Realtor.

Should I turn it into an LLC?  That's optional.  See an Insurance Agent to get Landlord's Insurance on the Duplex with liability coverage of $300,000 to $500,000 and Umbrella Insurance that picks up at $300,000 or $500,000 and goes to 1 or 2 Million.  That should cover your liability exposure.  

There are actually Animal Removal Companies that remove varmits from houses (attics, in the walls, under the house or deck, etc.).  Check out the Internet or Telephone directory (if they have one in your area).

I've used Animal Removal companies to remove mice, raccoons, skunks and bats from houses.  Note that bats are federally protected during birthing periods (something like June to August).

After removing the varmits, some Animal Removal Companies will plug all of the points of ingress and egress for the varmits (for a fee, of course).  But, it is important to plug all the points of animal ingress & egress.

Good luck!

P.S. - That company really up sold you.  $12,500 is too much to get rid of varmits.

I had to get engineering drawings once during the permitting process.  I used a structural engineer.  There are all kinds of engineers, such a structural, mechanical (HVAC system) and electrical (for wiring, etc.).  If you are only getting "drawings" get a Licensed Structural Engineer.

I found my Structural Engineer by going to my State's licencing agency.  They had a search engine on their website, so I just searched for a Structural Engineer.  I screened several engineers and chose the one that was experienced and willing to do the "drawings."  All of the Structural Engineers I spoke with were qualified to do the work, but most of them were too busy or they only took the big jobs.  But it worked out good for me and it'll work out for your also.

Don't ask; Tell.  Follow your state statutes and your lease to the letter.  Then, give legal notice that you are raising the rent and it they don't agree you are terminating their lease.  They either accept it of they leave.

Here are three books that I liked:

1.  What Every Real Estate Investor Needs to Know About Cash Flow, by Frank Gallinelli

2.  The Book on Managing Rental Properties, by Brandon & Heather Turner

3.  The Book on Rental Property Investing, by Brandon Turner

Deleted - Duplicate post

Unless you have access to commercial databases that contain SSNs, you best bet is to hire a "skip tracer" or a private investigator.  Before hiring a skip tracer or private investigator, let him know that you want the former tenant's SSN, date of birth, drivers license number, etc. and that you need this information to collect a judgment or bad debt.  The cost should be somewhere in the range of $200.00 to get the information.

Check the following for legal deductions from the tenant's security deposit:

1.  Your state's landlord and tenant law.  Most states have laws regarding tenant security deposits.
2.  Your lease.

I use QuickBooks Pro 2020 desktop for all accounting.  QB easily helps you track expenses for individual properties.  I use Rentec Direct for rent payment, reporting and general management of properties.  I recommend both.

@Mike Lambert  I'm not fear mongering.  I stated that one should take certain facts into consideration before attempting to buy real estate in Mexico. The following matters should be taken into account before buying real estate in Mexico:

Narco-state
https://en.wikipedia.org/wiki/...

Past Governments Turned Mexico into Narco-State, Says President
https://www.occrp.org/en/daily...

Mexico Travel Advisory - U. S. Dept. of State
https://travel.state.gov/conte...

Inside the bloody, brutal cartel wars taking over Mexico’s tourist haven
https://nypost.com/2021/11/05/...

Risks in Buying Mexico Real Estate for U. S. & Canadian Citizens (reprinted courtesy of U.S. Embassy web site, Mexico City 3/31/05)
https://www.petergelsey.com/ol...