All Forum Posts by: Rob Beland

Good luck

Im interested to hear about your experiences with having solar panels installed on houses by companies that dont require a down payment but require a long term contract. Have you bought or sold a property with solar and how smooth was the transition? It seems like a fast growing trend but I foresee problems in the future when people go to sell a house with these panels installed. 

Im not sure I understand the question @Davon Lowery. If you are paying interest on a loan whether its a conventional loan or private money its an expense you must report. If you don't its a crime. 

@Sheba Shimojiyou should find out about security deposit laws in IL. Once you take over as the owner you will have to follow all laws about how you handle security deposits. It may be easier to just refund the deposits to the existing tenants rather than risk a lawsuit if you don't handle the deposits properly. Start fresh with the new tenants as you have turnovers. Always remember to tag your post with your city/county and state so you connect with other local investors that are familiar with your states laws. A lot of times you will receive what sounds like great advice but it's from somebody out of state that isn't familiar with the specific laws of your state. Good luck...

@Lee Carrellcheck with your local police dept about the no trespass order. Im in MA and I dont know if its a local law or a state law but I was told in a similar situation that even if I put a No Trespass order on somebody and they are in my building as a guest of one of my tenants the police can't remove the person. Basically it negates the point of the No Trespass order as long as the person is an invited guest. 

Somebody mentioned you and Black Diamond @Ann Bellamy.

You weren't tagged so I wanted you to be able to read through the thread.

@Ann Bellamyshould read through and franchise

@Devon Garbusyou're trying to make money for your client? He wants to own high-end commercial RE but your strategy is pocket listings and off market deals? Are you a wholesaler? Where is your fiduciary responsibility? Are you a licensed agent? Can you share more details?

@David Shippunfortunately you haven't given us any information to help come up with an asking price. What makes you think the property is worth more than $12K? Does it need work? Also, some of your comps are way outdated. I wouldnt go further back than 5-6 months and in many markets you cant look further back than a month or so. 

You should tag your post with the city/county and state so you get feedback from investors familiar with that market. 

Best of luck but you need to provide more info here.

Yes @Digger Odellif you have a home office that you use to run your business you can deduct the proportionate expenses. As an example, if your house is 2000 SF and your home office is 500 SF you can deduct as a business expense 25% of property taxes, insurance, electricity, heat, etc... The IRS does say that your home office must be used solely for that purpose. It cant be a spare bedroom with a computer in it. It also cant be a room your kids use to play games on your computer.