All Forum Posts by: Scott Mac

I've run into that sometimes too.

I think it stems from the question asker not having enough information and knowledge to ask a good question.

What I do in a situation like that, is I try to figure out what I think they really would like to ask if they had enough knowledge to ask a good question.

And then I answer the question I think they would ask if they knew more about this business vs. the original question.

It might be the investing environment.

Right now we have a different interest rate picture then we had a few years ago.

Also in many areas prices are very high.

Meaning the low hanging fruit for a new investor might be a little higher up on the tree and fewer and farther between.

And I also see many questions popping up about running a short term rental business, which to me is more of a business than an investment although it does involve an investment in real estate.

Be there when they finish. 

Have them start touring you around to inspect the work about !5 mins before they finish.

And if there's still some to do, point it out before paying.

Good luck!

This looks like a very nice property, such a pretty pool, do you also have hot tubs?

I think this will be a real "Boone" to the area.

If you want to know if it is a fair price for your area and this time of the year, simply get two or three more bids.

Good luck!

You mention offering homeownership opportunities to people who have been rejected by traditional banks.

Do you have an estimate, or a track record, regarding how many of these homes will not be purchased under the contract and the borrower defaults and the home will revert to you to resell?

Section 8 can be a PITA in some areas with things like paying rent on time if there is a water stain on the ceiling.

Where in a standard market rate rental a stain like that could be handled when you get around to it and the rent would still be due.

II wonder if it would stand up in court that they could force you to use their contractual payment requirements on your own Private property.

Plus the applies only to people who own more than five rentals.

Just my 2 cents.

Hi Ricky,

Being in operation for 10 years with mid seven figures of assets and NNN leases,

it would be wise to speak with your tax advisor regarding if the tax set up should be an LLC, an S-Corp or a C-Corp.

It would also be wise to speak with an asset protection attorney to find out if this is something that might be beneficial to you in that area.

From an operational standpoint you might also want to consider the cost of any extra tax returns that are needed by the entity as well as any extra accounting fees.

Good Luck!

Check the unit for pets.

If there are pets in the unit take a pan from under the sink and fill it with water so there's something to drink.

Look around for some pet food spill that into another big pan so they have something to eat. 

While you were there call the renter from the unit and ask what the renter wants to do with the pets.

If the renter has no way to take care of the pets and you do not want to keep them due to their cuteness and friendliness, then an option might have to be a no kill shelter.

https://www.nokillnetwork.org/