All Forum Posts by: Mike S.

nvm

Are you on month to month with them?  If so, immediately give 30 day notice.  Also, if your lease doesn't have a clause that strictly prohibits attaching, drilling, or otherwise installing anything to the structure, I would add one to the leases going forward. 

Yes, yes, yes.  Exterior waterproofing is the only waterproofing.  If anyone tells you different, they're an idiot or a liar. So many contractors have moved to "systems" that involve inside work because the can overcharge for them, yet not solve the water ingress. Depending on your basement and soil content, it should cost $6,000-$10,000. 

I second rtacabinetstore.com.  Easy to assemble.  Home Depot quoted me $16,000 for the same options that I paid $4,400 for at Rtacabinetstore.

There's a Biggerpockets podcast for that.  As a builder, you get to claim on taxes what would normally be depreciation upfront.

  I know making a profit from application fees and charging more than cost is illegal, but what states make it illegal?

Edit: Nevermind, looked it up, Vermont and Massachusetts.

Have you listened to the podcasts on mobile home parks (Jefferson Lilly)?  Don't have tenants, have owners/rent to owners.  Shift maintenance costs of the mobile homes to them, and reduce vacancy rate since owners are stickier and when they do want to move will likely sell back to you at a bargain and you can  put another owner in it. 

If you don't know already, you can't receive the proceeds from sale, it needs to go into an exchange/escrow account until the purchase of the new property.

Each and everyone qualify individually or none qualify.  "Collectively" is never a good approach.

A trust offers no asset protection and should be considered only if there is a tax situation that warrants it.

Personally, I prefer an umbrella policy over LLC. At a certain level(past 10 or more properties or larger multifamilies), an LLC may make more sense.

Edit: Should have said liability protection, "not asset protection".