All Forum Posts by: Michael Plante

Good afternoon! Looking for advice on a tenant who I sent an eviction notice 60days ago and today I was told he was not moving. He states he spoke to a lawyer and they told him he did not have to evict since the notice did not state a reason for the eviction. Tenant also stated he had mold in the closet which was due to a leak that was fixed back in may and this week we will be addressing the mold. He states I should have provided him with more time since he has lived in the home for 7 years and although he has looked for a home to rent he has not found anything currently. Property is in San Diego, CA. Looking for any advice or similar situations. Just some more back story tenant has made many changes to the property without prior approval and is currently on a month to month since no lease has been renewed for quite a few years. Reason for the eviction is 1. the house is not renting at current rents and 2. Bathroom needs re piping and complete remodel. Tenant has paid rent every month.

Be careful about the estimate between you closing to buy and you closing to sell.  Better to over estimate than come up short . . supply shortages are impacting most of us and your people will be no different.  You will want vacant dwelling insurance with is different than what we use for rental properties that are occupied.  If you are using contractors, ensure they are licensed and carry insurance otherwise you can get sued if they get hurt on the job.  We used to go for the lowest priced contractor and thankfully were lucky nothing ever happened but have heard enough horror stories that we will pay more to get that assurance.

By the way, looking at your picture, thanks for your service!

Hey Everybody!

I am looking into the possibility of getting into flipping. If successful build up my purchasing power and will probably consider a mix of fix and flip, brrr, and tax exchange in the long run.:)

I moved to NC and have a duplex. One of the things I found out is that for anything that is not owner occupied and requires a permit I have to hire a professional contractor due to state law! Needless to say I was disappointed. I have no problem with doing the work right and getting permits withing reason which is what research is for. In NC I have seen there are some crazy laws. Like I can replace wood paneling with Sheetrock without a permit but I cannot put insulation into the walls without a permit. Which there may be a good reason for the permit but in that case I could have to hire a fully licensed contractor to buy insulation from home depot and put it in the walls!

Does anyone know of a resource for knowing which states that are more DIY friendly? So that in the event you want to do it yourself with permits or contractors are not available in a timely manner you can do it yourself do it right and get it done and move on to the next opportunity.

NC LAW snippet:

A person may construct or alter a building on land owned by that person without having a general
contractor’s license so long as the building is intended solely for occupancy by the owner and his
family AND the owner obtains all required permits. If such an owner fails to occupy the
building for at least 12 months after completion, then it is presumed that the requisite intent was
absent at the inception. In order to obtain the necessary permits, the owner must also file an
affidavit with the local inspection department attesting that s/he is the owner of the property, that
s/he will personally superintend and manage all aspects of the construction and will not delegate
that duty to any unlicensed person, and the owner must be personally present for all inspections.

Hi i am 22 years old and i will be purchasing a home in 8 months, i have 700+ credit score, i will be using an FHA loan for a home that is around $400,000, i will be house hacking and i will only need to cover $500 of a $2500 mortgage, I have no bills and my car is paid off, I want to get into real estate investing and accumulate properties. My idea was to but this first home, using FHA while here save up all my money and pay down the loan to the point i do not have to pay PMI, and get a second home the following year, Using the same method. I do not plan on moving from the first home until I dont owe PMI, then i want to rent it out. Could i get some advice from experienced folks to understand if im missing something or if im on the right track and what you would do different?

NO COLLEGE/TRADE SCHOOL im 24y old and I've mostly worked in warehouse jobs through temp agencies, somewhere between 44k - 55k a year and that line of work changed since now I'm in a more corporate job (credit dep.) I'm just kinda worried that if I where to find a good deal I wouldn't be able to find a way to make it work with just getting a loan due to the 2 years of work but i say "kinda worried" because I've been reading the  (investing with no money or low money down)  book and I know that is not my only option,  it's just right now at this moment in my life that would be the easiest of the options, but ohh well that's one thing that I got from the book is that I have to get creative and I'm not even finish ready it lol. The goal of everyday is to get more knowledge ask ,read, do, repeat.