All Forum Posts by: Philip Johnson

Loopnet craigslist and Zillow come to mind. I've seen a lack of listed properties on all of these services though for commercial, even though loopnet is for commercial .  I'm not a fan of realtors but I'd contact a commercial one for that. please like post if helpful, best of luck! 

Rentprep.com has some half way decent templates for like $30 one time fee and cheap background reports.  I wouldn't pay $150 a year for something. I haven't seen one on BP. Please like post if helpful. Good luck ! 

I started with owner occupied. It's worth it because you get lower rate. Don't get FHA it's terrible. You cannot remove mortgage insurance and they are too strict with condtion of property. If you want to make an llc don't expect to be able to with this strategy. A property needs to be paid off to make an llc. An llc also isn't necessary until you start to get a huge portfolio. Expect to move often if you are doing owner occupied rehabs . Please vote for post if it was helpful.

After a year has passed you get to do it all over again. Have a lease signed before you buy your second house or move into a month to month while you shop around. 

 Sounds like they moved out. If it was my place it's in my lease that email serves as notice. I would Email them 24 hrs in advance and step right in. Check the fridge and cabinets easiest way to tell. If no fridge or food rotten they are long gone. If it looks like they're history I wouldn't worry about their stuff. But you legally have to keep their property in a storage unit and even make an attempt to notify them at their new address, and even a separate storage unit just for them in California from my memory. I wouldn't keep rubbish personally if it looks like they abandoned ship. But if their beds and couches are still there then yes.

@mariansmith Thanks for chiming in, next time I cut drywall I will definitely use tape for a straight edge very smart. Looks like it's too late for schluter so we are using some cheap styrofoam trim our local hardware store recommended for bathrooms. Because I didn't have a perfect edge and no space for schluter. Next time ! Thanks everyone ♥️♥️♥️

Just make sure your rental vacancy rate is low. Like under 8 percent preferably 5 

The house I have with the most amount of cash flow and the lowest mortgage payment is the only house that I have in a D neighborhood. It is close to downtown and Transit. I made everything quite nice and found a great tenant and it was rented within 24 hours. I would say she is an average tenant and I've had no serious issues. Property is in Visalia California. I would buy again for rehab but not a live in rehab. The neighbors were mean and obnoxious and I couldn't wait to get out. Barking dogs and people running car mechanic shops in residential. I complained every week til the city resolved the issue then two ghetto neighbors hated on me but others thanked me. 

Im thinking about just coming in with a multi tool on the edge under tile to clear out enough mortar to come in with schluter 

 Thanks Ben ! The mortar has set and is totally dry. I've found it hard to take off once dry. Even with the pro nylon brush on a high speed drill. Any tips ? 

 Thanks ! Here in the socialist republic of California, 1099 are not covered by WC. And WC is paid in an extortionist lump sum of $3000 for this type of work with no refund, once you get over $10,000 in wages, the $3000 increases and continues at about 25% of wages. This is just for the carpentry category that it's that expensive since it's a broad labor group. Specialist stuff like flooring install is about 15%. Thanks for chiming in. 

Hopefully someone else has a strategy for  covering an uninsured 1099 independent contractor. Not that I'm going to do it, I just want to know my options.