All Forum Posts by: Russ B.

It may also be good if you can come away with some equity in the operation at that building. If you keep it under 20%, you don't need to cosign on any of its debt, and you can have a piece of something much bigger than one building. In my experience, the building is a relatively small sliver of the business's cash flow.

It could also help the operator to feel more confident in the deal - you aren't going to pull the rug out from under them in 10 years if it's also your operation.

The renovation effort can be bigger than a house, but if it was already licensed for the same use class, then it probably already has an occupancy cert.

Depending on the local rules and how much you need to change, this could make life a lot easier.

Partner with an existing business that knows how to open and operate an assisted living facility and you have most of the building blocks of a successful deal.

Almost exactly a year ago, I connected a house to the public sewer (had septic up until then, was starting to fail). That was about a 300 foot line that had to be drilled under the road, to connect to the sewer in the middle of a neighbor's front yard across the street.

That job, with restoration on the neighbor's yard and a $2600 permit, totaled about 13k.

Looks like a real simple scenario to me - dude quoted a specific job at a certain price, and then didn't perform per the contract. He can say whatever he wants about "when it's done it's done".. a judge is gonna say something else.

If you're so inclined, and he's not working with you toward a solution, you can talk to a lawyer. They can argue with his lawyer over how much to knock off the price.

This is what I've done.. or rather, I've simply avoided moving to areas with stupid prices at all. For example, silicon valley.

Yes, the jobs there pay more.. but when it costs several million to get the kind of house I'm used to picking up for under 500 here, those jobs are actually a step down.

Before you split up any "profit", I would run the numbers and verify that it is actually profit. Otherwise, you could wind up with a big bill that a couple siblings can't contribute their chunk of.

For example, are you saving or escrowing money to cover property taxes and insurance when they come due?

Politics is something you're supposed to argue about with friends and family, not at work (which is where you are, when you're being a landlord).

That said, I could see someone in a roommate situation not wanting to bring whatever political views into their home.. which I would think is probably permissible anywhere.

SBA 7a 🙂

Just because someone leaves you something in a will doesn't mean you're required by law to take it.. if the estate is effectively bankrupt, you don't have to bail it out.

So FHA states that you need to give due consideration to a reasonable request for accommodation - not automatically say yes to an "accommodation" the tenant already made for himself before even having a documented need.