All Forum Posts by: Will Gaston

@Bruce Woodruff I'm not disputing that it's mostly a scam but I do think that the law requires that I take them, regardless. I may be wrong on that. 

However, I'm curious is to know if I have to take them regardless of breed?  

All:

I've got a well qualified tenant that I would love have...except she has an ESA that happens to be a pit bull mix. I'm fine with the ESA but I think my insurance won't be fine with the dog.

Waiting to hear back from my insurance agent but I'm 99% sure he's going to said it's not allowed.

Any insurance agents or PMs know the ruling on this? @Joe Splitrock any ideas?

Charlotte, North Carolina. The growth I have seen living in this city the past 10 years is insane. Tough to cash flow on rentals but the wealth of the buy and hold investors here will be through the roof in 20-30 years. 

Not anywhere near enough housing + ~70 people moving here every day. Great appreciation metrics. 

@Deirdre Cullen this isn't answering your question but do you need to furnish it?

I have (unfortunately) done this before and it did not work out well due to the fact the abuse on the furniture was pretty heavy.

If you do, I'd go with a fake leather couch. I'm sure you can find a used one of those on FB marketplace pretty easily.

@Hilary Harrison I believe in Columbia (Richland County) this would likely be pro-rated based on the SF and/or the value.

What are the SFs of both the main house and the guest house?

@Brandon Cox I primarily do student rentals and I care very little about the values of my properties. I very much care about the likelihood of keeping them leased.

I think you should strongly consider whether or not you can continue to rent the properties at/near where you're renting them now for the foreseeable future. 

Don't underestimate the recession resistant nature of student rentals. Lots of people weren't paying rent in 2008-2011. Almost all students were.

@Melissa S Vrobel I'm sure there is one but I cannot think of one example of a business that does not raise it's prices. Don't let fear drive your decision. Spend some time looking at comparable properties and their rent rates before you proceed.

The grocery store and the Italian restaurant down the street have no problems raising prices and neither should you.

@Blake H. Full disclosure: This is just my experience. 

When I get angry or defensive when someone says something to me I think there is likely some truth to what they are saying. At least a little bit. And that's why it bothers me. I don't get mad at all when somebody says I'm tall bc I'm definitely not! 

I think it's a worth reminding that there are a lot of wealthy and smart people on these forums and the many of them can provide great counsel.

I don't think you'll regret it if you at least consider what @Nathan Gesner and @Jim K. are saying.

Thank you @Dave Foster...you are a treasure to these forums!

Perhaps @Dave Foster knows the answer to this:

Is there a maximum amount of 1031 replacement properties that could be used a like kind exchange?

For example, could I sell a 5 million dollar office building and go buy a 10 million dollar portfolio of 100 SFHs that are individually deeded?

Assuming same LLC as buyer/seller.