All Forum Posts by: Mark Walker

Should I put my LLC into my Trust ?

Single member LLC holds multi-family apartment building.

End product of a 1031 exchange.

Good or Bad move to put LLC into my revocable trust ?

thx,

m

Multi-Family with NO Certificate of Occupancy

I have discovered I am in a deal to purchase a house

and units with seemingly NO Certificate of Occupancy from the City.

It appears these are supposed to be applied for by the original contractor,

however the city has NO record.

These units have been renting since 1951,

does anyone have experience in this area ?

Thx,

m

Thx for input Todd.

No white beard, sleigh or reindeer here.....

m

Thx for reply.  These people are paying 900 for an apartment worth 1450.

So if I raised them up to 1050 or 1100, do you think the best thing to do,

would be to just post a notice on their door ?

Has anyone got any good ideas on the best way to raise rent rent after you buy ?

I am buying a building and one unit is horribly under market.

The unit in question is on Month to Month.

Yes Jennifer, I am curious if I have a scam artist in the nest.....

The realtor(s) are not interested to know...

Plz can you elaborate a little further on what you did to make the issue in your building appear.

Thx, Mark

p.s. 

The person in question is also claiming an undocumented last months deposit (double)

There is NO record of it on their move-in lease agreement. 

They paid the rent and a $650.00 Security Deposit, NOT $900.00 as claimed now....

You know what they say, if it smells like a scam artist and behaves like one,

it probably is....

This person also signs differently to their printed name and has changed their name in the last three years....

As I stated above, I spoke with said Realtor and reply from both realtors was go by estoppels, which I find an easy way out, however what do you expect ?

Of course the EXTRA money comes from seller's funds however that is not the point here.

The estoppel is NOT the place to make $500 !!

There is NO RECORD of a $500.00 bump in the Secuity Deposit

Not that I have been given...

I agree with you however I am getting the shine on from the realtors,

they are SFR realtors dealing commercial and...

I am not sure what to do, however I would like THE TRUTH to appear b4 closing.

It's not the cash it's the principle.

It's a double deposit...

allowable....

they have to pay the first month's rent because they are living there.....