All Forum Posts by: Tevis Verrett

Bravo that Sam W. and Jon Holdman!

Waaay back in the day ( the 80's) at ridiculous rents UCLA, I remember the PM telling my frat boy roomates and I that we can have a year lease or a 2 year lease. "We asked well what about summer?"

He eloquently replied, you can suck it!

So, now on the other side of the fence, I cant wait to get my hands on a property next to a college or university for that very reason.

YMMV,

Tevis

Post Script. . . we took the 2 year lease,and stayed for 3 years.

I agree with my brother Sam W., THAT is the quickest way to invite squatters, as well is the joyous individuals who will rip out all of your copper to supplant their crack habit.

Go guerilla and do Craigslist and DONT put the address.

YMMV,

Tevis

Um. . .

Did anybody catch the "2 month lease, and then month-to-month" doggonit.

You are going thru a lot of mess and an adversarial relationship (Even though Sam W., Jon Holdman et al. are spot on).

I could see putting in the investment for time/angst/trouble for a year lease with a potential of 4-5 years (lifetime of the tenant).

But a couple o months?

YMMV,

Tevis

Bravo that Sam! Pleased that you can glean goodness out of this!

Blessings All,

Tevis

Thank you all for your sage advice! I too am in the same boat as Ben Kahle. I have a $339K home that is free and clear.

I am DEFINITELY fence sitting, I am leaning toward a 30 year fixed refinance for 80% LTV, or do as mentioned: HELOC

The Fed just dropped the discount rate AGAIN. So now a 30 year fixed is as cheeeeep as 3.25%

Good boogly woogly, that is dang near free money.

So my question, with the cost of money so low, lock in the rate with a 30 year, or have the liquidity and speed of a HELOC?

Happy Thursday, all!

Tevis

Michael Sherwood have you thought about a virtual assistant? Mine is in India, works on projects as I need her, and is indispensable.

She handles emails, Quickbooks accounting, and even researches strategic plane tix for me at my whim.

The best in outsourcing biz is Tim Ferriss' recommendation of BrickworkIndia.com

Hope this helps,

Tevis

We are all struggling in this bass ackward economy. Anne Johnson you are very sweet advocating for her.

Rather than whispering, she needs to pull up her big girl panties and market herself as a kick butt virtual assistant hired gun, who is more a PROPERTY OWNER WHISPERER, and can interpret the next moooooove of us landlords and git er done even before we ask.

THAT would make her indispensable, and much sought after!

My .02,

Tevis

This is an out-of-the-box-money-tree-generating innovative idea.

Thanks to the OP Ben Skove. I am subscribed, what say you our wise brothers and sisters?

Tevis

Beautifully said Bill Gulley. I have been floating master options and have very little success with them. In this California market, cash is king.

YMMV,

Tevis

Welcome Matt:

That is a big ol question sir, and a warm welcome.

I personally go for LLCs and insurance for asset protection.

Short answer:

If you vest all your properties into one LLC and something catastrophic happens, and they get a cutthroat attorney that wins a $5 bazillion judgment. . .

They take EVERYTHING contained in that LLC.

Whereas, now lessay you put each property in its own LLC (ridiculously and prohibitively expensive here in California-$800/year per LLC), and they get that same $5 bazillion judgment.

Only the LLC that got hit will be liable.

That is the end of my non-laywerly advice.

YMMV, and hope this helps,

Tevis