Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Scott P.

Scott P. has started 3 posts and replied 464 times.

Post: Active investors in the Indiana/Lafayette real estate market?

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Katie Jewel runs a meet up in Lafayette.  You can find her here on BP.

Post: How Many RE Investors are Engineers?

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

That's me.  BS Civil/Architectural followed by community college electrical & mechanical program completions since my day job is Design/Engineering and Project Management for  Industrial Automation and product handling.

Post: Want to Repurpose Parents Land into Multifamily, Where to Start?

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Upvote for Reece although i don't disagree w/the other input.  i've done this sort of thing several times.  The answer depends too on what city/state you're in.

Post: Certifícate of occupancy

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

In my area, as far as I know, a person would only get a C of O in 2 instances: 1, when new construction is completed, before the 1st person moves in, or 2, in some local jurisdictions, like a college town, annually before you can rent to unrelated persons.  Most areas in my area never require a CofO after that initial one after a new house is built.

If you tell us more I might be able to provide more insight.

Post: Greater Lafayette Area Investor Meetup

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

I've penciled it in :-)  For anyone who is considering coming...I went to one of the Greater Lafayette meet ups.  I didn't know anyone before I arrived.  It was a fun and good use of time!

Post: Am I scaring away potential tenants?

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

I'd leave out the "responsible life" and "exhibit a pattern" part and say "no smoking inside premises."  I think they may feel disrespected and likely have other places to choose in the area.
 





Post: Fire a Home improvement contractor legally

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

At least it appears he has done 50% of the work for 50% of the money.  Did you get a Lein Waiver for that portion of the work when you paid?

You've done well having a contract in writing.

I'm not a lawyer.  I can only give you information about what I have done.  I always get a partial lein waiver for partial payments and a full lien waiver for completion and 100% payment. I've never "terminated" a contractor but I have "cancelled" at least 5 that i can think of.  In each case I paid for what they had done and sent them on their way and hired someone else to finish.  None disputed the payment amount other than a minor verbal negotiation.  (I've never had an unpaid bill or lien or lawsuit.  I've hired hundreds of contractors.)

I only know what you've posted but it seems to me you may be being too harsh?  He's barely 2 weeks late.  If his work is good and he's done what you've paid for are you being fair?  I suppose so if the other contractors don't have the issue this one does, but I'm wondering...

Post: Do you prohibit any types of animals on your property?

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Similar to Slyvia B, i had a tenant with 2 dwarf rabbits that "always stay in their cage" which knawed and chewed my baseboards.

I don't allow cats with front claws or dog breeds listed by my insurance company.

Post: First Multi-Family Accepted Offer

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

Congrats on patiently waiting and finding what you were looking for!

Post: Best practices for bookkeeping if not under LLC

Scott P.Posted
  • Rental Property Investor
  • Indiana...mostly
  • Posts 466
  • Votes 245

When i started as a sole proprietor I just used a separate personal checking account. I had no problems doing that.