All Forum Posts by: Terrell Garren

M2M regardless.  You can deal with misbehaving tenants immediately and they know it. 

 If you have a need to give one or two sentence answers to 90% of the threads posted, maybe just post "I was here" instead of giving bad advice. 

Consulting a tax advisor is silly talk. An LLC has little to do with taxes. It is all about risk management. My rule of thumb -

If net wealth < $1M, then insurance and $1M umbrella policy

If net wealth > $1M, then insurance, $2M umbrella policy and LLC.

HOAs, the tyranny of the majority. 

I'm thinking you are new at this.  IMO

Net wealth < $1M, insurance and $1M umbrella policy

Net wealth > $1M, insurance, $2M umbrella, and 1 LLC

I bought 500 business cards around 2009.   I am down to 490 now. 

Knowing how to patch a wall, lay flooring, and hang a ceiling fan are more important things to pursue. 

That's a tough spot.  Established GCs are not chasing work right now.  A new investor soliciting bids is hardly on their priority list, especially before the property is under contract.  Can you leverage a relationship - friend, relative, realtor, closing attorney, framer, electrician, etc. to find a good GC that will walk the property with you?   

A better option is to buy a property that does not need a GC, develop your experience and build relationships with skilled trades, then a GC on a more complex project later. I think I've only used a GC on maybe 2 of 20 SFH projects both involving structural changes.

Good contractors are not cheap and cheap contractors are not good.

Your answer is pretty much in the thread title.  A foundation repair company can repair and improve the foundation - footings, walls, piers, girders, joists, etc. A structural engineer designs the foundation to adequately hold the load. For new construction, changes in load, inadequate foundations you need an engineer.  For simple repair, well, you get the picture. 

I suppose I could consider paying a PM $3K to save me from maybe 10 hours of generally enjoyable work each month. 

 Please don't drive right now my friend. 

Owner responsibility.  IMO tenant maintenance is not a thing.