All Forum Posts by: Michael D.

Brian Humphrey, Before worrying about all that, first you need to decide what role you want to play in Real Estate. Then start doing something about it. You can always start a business, but that's not something you need to do for no reason. As far as an LLC goes, it probably won't get you what you want any better than good insurance will.

If you want to be a buyer, start looking for something to buy. If you want to wholesale, look for buyers and ask them what they want. If you've identified a market you want to be in, start networking with other RE professionals in that market: property managers, brokers, agents, loan brokers, wholesalers, insurance agents and other investors are all good people to know. Start calling around and just talk to them about what you want to do. No need to pretend either, just be open and honest about that fact that you're just getting started and trying to learn.

You should also go get your license. It's not that hard, and there's no downside.

Good luck!

Michael

Thanks Jon Holdman! I'll check with the City of Modesto on that, and I do plan to use a contractor for the work. Hopefully the contractor will know the rules, but I won't take their word for it.

Michael

Thanks guys, PVC it is!

I've also seen ABS, but none of you mentioned that. Is it the same thing, or it is just that nobody recommends that for some reason?

Michael

Thanks for the input Billy Rogers. Would you be more worried about breaking/cracking with PVC than cast iron? If money were no object, is cast iron better? (Of course, money is an object, just trying to understand).

The specific problem for me right now is root intrusion.

Michael

What sort of material should be used for the sewer line running from the house out to the city main? Cast iron? Clay? I need to have this replaced soon. Any suggestions on things to consider or make sure that I have included?

Michael

And make sure he brings his family to opening night, on the house. Or to the pre-opening, training day.

Michael

Hey guys, can anybody refer me to a company that will refinish my hardwood floors in or around Pittsburgh, PA?

Thanks!

Amie D., sorry to hear you're having such trouble. I had similar issues myself and switched managers recently to a company that I'm much happier with. The old manager was very gracious and said that they were sorry to see me go, that they'd welcome me back, and frankly made the transition easy. I hope yours will behave the same way, but you need to ditch them regardless.

Find a new manager first. Do your due diligence, but try to do it quickly. Review the terms of your current agreement carefully. You may have an out for cause that you can exercise. It's unlikely that the manager will try to force you to stay - he's probably overwhelmed, but at least you want to know the particulars of the contract and what your maximum exposure is.

Once you've gotten a new contract signed with a new manager, then give noticed to your existing. Tell them to stop any attempts to lease the unit, halt all repairs, etc. You might consider giving notice earlier, but only if you're sure you can have somebody in place right away. It's not a good idea to let management lapse.

I was pretty scared about switching managers, but for me it went very smoothly and I was relieved when it was over.

Good luck!

Thanks Wayne Brooks, I'm learning every day.

Louise Whidby, I think what James Vermillion meant was: "So since the comp was NEWER, the adjustment to the subject property would be -3k for age."

For example: You are looking at a comparable property that is mostly similar to your subject property. In every other way, they are the same, except for age. The comparable property is a few years newer than the subject property, and therefore worth a little more. Maybe the comparable recently sold for $100k. So you might then say that the subject property is worth $97k. ($100k - $3k)

Of course, there's not usually just one difference - there are many. So you take off a little here and there, and add back on in other places to arrive at a final number.

Hope that helps. I don't think it's worth a whole class!

Michael