All Forum Posts by: Account Closed

I think this class should be left to professionals, or those with deep pockets that can absorb the blows. Think of it as a 3:2 BJ table game vs pulling a $100 denomination slot.

Are you required to give a grace period in Mississippi?

Granted it's too late now, if you already inserted that into your lease. Most people think it's required, but it isn't, like in Ohio.

If you're in a C area, you're going to have to learn to accept some, like the ones five years or older.

I’m in Columbus, and travel to Dayton and Cincinnati on a weekly basis. Columbus is my Home though, so I know more about it, and surrounding suburbs.

No offense to you, but most doctors are terrible at business. This is why savvy people approach them to utilize their money and put together big deals.

It’s not illegal for someone to live in a basement because they have a felony for theft. That’s irrelevant. Generally a lease stays with the property upon change of ownership. If they have six months left, the owner retains the right to not renew a lease, and will have to give written notice. Nonetheless, if the tenants are paying tenants, and have a history of paying on time, just ride it out, and take the rent income. If that’s not an option for you, don’t close on the property until the tenant is out.

I bought a duplex in Columbus last year with several code violations, and people were squatting in it. No one cares, especially if it’s unoccupied. The code enforcement officer said they don’t care what violations you have inside as long as it’s uninhabited.

Made me lose faith in humanity, yet given me hope at the same time. 

I am, but I just have a duplex that I invested $87k total, and I collect $1,350/month total. Property tax is $1,410/yr, and about $2,100 for water and sewer per year, and trash is $348/yr.

Why not just collect rents as the LLC, set aside 30% for taxes, and be done with it? If you were actually using a PM, it’d be a different story, but ultimately the income is coming back to you, so why add an extra step?