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: Terry Miller

Terry Miller has started 0 posts and replied 172 times.

Starting on April 15, the first batch (electronic/ACH/etc.) of the stimulus payments will be made. So Thursday or Friday would be a great time to check back with the individuals who "promised" to straighten you out when the money comes in.

Post: $10,000 SBA Loan / Grant

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189
Originally posted by @Brandon Rouer:

@Gregory Schwartz

I only have one tenant unable to pay so far. I anticipate it snowballing. SBA asks how much $ you’re out due to the virus. Would I put $1500 for the one month I’m down so far or how do they expect us to guess? We’re just beginning this...

As a business consultant, I come up with answers like this all the time.

Often, there is no one "right" answer. The response has to be reasonable, though.

A reasonable answer for this is not just one month. The industry AVERAGE time to fill a vacancy is what? I don't know. If I had to pick a number, I would say three (3) months. That's reasonable. it's an average. Of course, you can have some dream situations. But, balance that out with the nightmare situations. Three (3) months is VERY reasonable.

Post: Gang activity outside 4-plex

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189

It would cost you less money to hire an armed security guard to patrol in the early evening and night. He doesn't even have to say a word--just do slow laps around the building. People would be VERY reluctant to engage in certain kinds of activities.

Guaranteed that two or three nights of that is more effective than ADT for THIS situation.


Every drug dealer I know would "refuse to work under those harsh conditions."

Post: Credible Resources for Crime Stats

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189

First, I assume you are referring to street crime, as there is crime everywhere. It's just that my ZIP code has more drug sellers, and Bill Gates' ZIP code has more tax cheats.

But one trick I have used in the past is to use the local paper's reports. Cincinnati? Well, use the Cincinnati Enquirer's search engine and input the streets, or even specific addresses. https://cincinnati.newspapers.com/?xid=527#

This will turn up interesting info for the patient person.

A search like this for my old street would turn up a meth lab explosion, for example.

Post: Rat Infestation in Chicago

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189

Consider getting rid of anyone who doesn't return your calls (without a very reasonable excuse): girlfriends/boyfriends, friends, businesses, etc.

Post: What do the numbers tell you?

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189

Other than the list price, there are no numbers.

#ghost_attachment_or_embed?

"booger hook on the bang switch"

Ex-LEO, ex-Marine, or both?

Hhehehee.

I am going to get on your case a little bit.

You saved anywhere from $50-$100+/year by using your parent's address, and not some registered agent.

But now, you are going to spend anywhere from $60-$200+?/year forwarding mail.

Here is an example of a company that does what you want (I do not have ANY business relationship with them whatsoever):

https://www.incorporate.com/maintaining-a-business/mail-forwarding/

Post: Tenant denied access for inspector

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189

99% sure they have a grow going.

Post: Tenants falling behind

Terry MillerPosted
  • Akron, OH
  • Posts 178
  • Votes 189
Originally posted by @David K.:

So far received $300 December, $300 January, $700 February.  Rent is $950.  Another bigger payment coming in a week.

 $1550 down. Are they expecting a tax return that would get them squared away?