All Forum Posts by: Kris L.

@Rema W.

Just because you have a 5 day clause waiver in your lease doesn’t mean it will hold up in court. Louisiana seems pretty specific about the tenant getting a 5 day notice to vacate in a “termination with cause”.

I encourage you to read through this and consult an attorney familiar with evictions to go through your lease.

https://www.nolo.com/legal-encyclopedia/the-eviction-process-louisiana-rules-landlords-property-managers.html

I am not an attorney and this is not legal advice.

@Jack Orthman

You absolutely can require they submit a copy of their orders to you in order for them to exercise that clause.

@Elliot Nunez

I'm doing a mix of BRRRR and flips in Pinellas County. Feel free to PM me if you have questions on that area.

@Andrew Bang

By my calculations:

Lender 1 is straight up $7500 total cost.

Lender 2 is $500 more.

Lender 3, I don’t know what Dutch interest is, but they are essentially charging $4750 plus that interest, which if it were calculated as simple interest would be $4,000. I don’t see this alternative interest to be cheaper than simple interest so I’m going with option 1.

Option 2 is more attractive if the project will exceed 6 months.

I have my flipping operations set up in an S corp, but I personally choose not to have my S corp hold my rentals as there are significant tax disadvantages for me to do so.  Namely the depreciation.  I don't know enough to give you advice on your situation, only to tell you what I am doing.

@Stefan D.

From the looks of it, things went sideways, but I wouldn’t say you lost your shirt having to keep 25% in a cash flowing deal. You just ended up with having to pay retail.

Not a home run, not even a single, but even Babe Ruth hit an occasional sac fly.

@Daniel Hurtado

I don’t wholesale, I fix and flip (keeping a few for myself as rentals). Took me about 4 months to get under contract on the first one in Florida.

@Colby Valladares

Any specific type of rentals? Single family? Condos? Commercial?

What area do you want to own property?

@Carl M.

I was rather pleased with what I got for $20 on Fiverr.

@Caroline Gerardo

Thanks, great advice.