All Forum Posts by: Tim J.

The nest way to limit liability is insurance.  lots of insurance and make sure you get the right kind and disclose all necessary information.  Then, get umbrella policy.  

get as much insurance as you can.  

I would not use an LLC for lending.  Don't see what benefits you gain.

Be careful about condos... 

things to consider:
- So many rules and limitations on what you can do and asking permission to do repairs etc.
- Uncontrolled spending and surprise assessments
- ever increasing HOA/condo fees.

I am partners in 2 condo units, a 6 family building, a small mobile home park, an 11 unit apartment building, a few SFH.

The ones that cause me the most headaches and time are the mobile home park and the condos.

If I could quickly divest from the mobile home park and the condos I would.

They are all still good investments, I would just rather stick to finding more multi family and stay away from places where I have to "asl permission" to do things and everything is micro managed.

(No airbnb, no short term rentals, move in/move out fees, etc etc)


If its a great deal for the condo, go for it, but know what you are getting into

RE: the original post - Is this another case of someone trying to learn how to create content with ChatGPT?  Seems like it.

I think this fad is mostly passe at this point.  

For completeness, in some jurisdictions, if you, the owner, live in the same building as the tenant you do have more control over animals than if you were not also an occupant of the building.  

Good luck

To the OP - good for you.  Stay out of real estate - that leaves more deals for the rest of us!

Next time you troll, use realistic examples - like maybe only 10k down on a property worth 100k.  The return on that far outstrips S&P.

Sometimes you learn the hard way.

Portland, NYC, Seattle, etc, are all places that are unfriendly to landlords legally and institutionally.  Add to that the general problems caused by waaaay left leaning people and the social problems those cities are facing - I would never invest there.  Too many other places were there is less of a crap shoot for "WTF is going on"

Most importantly, what you and they need to understand is that if they try their hand at AirBNB they are getting into the hosting business.  It's not a passive activity, unless they hand over all the operation to a manager.  

It might be best to talk to a CPA and find alternatives to airbnb as a investment, unless they really want to own a vacation home and offset some expenses by renting it on airbnb.