Tuesday, June 27, 2017

The Do's and Don'ts on a Rehab To Rental

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Hello everyone,

This week we have our officer / good friend, Sue Brocker, as the guest speaker for the night. Sue is going to lead a discussion about the do’s and don'ts of fixing up properties for rental. 

We’re going to go over some of the start and mid way photos of the REI rental rehab and will talk about what we are doing, why we are doing it and how far we are taking it. Not quite to the degree of a flip, but quite a bit away from the bare minimum necessary to rent it. 

It’s going to be a fun meeting. 

See you there...

Tuesday, June 20, 2017

Highland landlord who says city violated his Fourth Amendment rights dismisses lawsuit

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Roanoke City is guilty many times over doing illegal warantless inspections of properties. Going to be real bad for them when someone sues. Or they get a class action suit. They under no circumstance have any right to even ask a tenant if they can inspect a property when they have been told by the property owner they can't. State law clearly states an inspection warrant is required if either the tenant or the landlord denies access. No big deal for them to get it. But they have refused to do so and have broken the law repeatedly.

 http://www.pe.com/2017/06/07/highland-rental-property-owner-dismisses-lawsuit-city-changes-inspection-policy-4/

St. Louis County 'Rental License' Ordinance Is Unconstitutional, Judge Says

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Bad governments with uneducated elected officials who swear to honor the United States Constitution but don't even know or understand what it says. Or even care enough to read it or take a class on it. Pure lazy ignorance.
One after another... Cities illegal actions getting judicially shut down nationwide.

 https://m.riverfronttimes.com/newsblog/2017/06/07/st-louis-county-rental-license-ordinance-is-unconstitutional-judge-says

City orders man to stop letting grill smoke cross his property line.

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State Appellate Court Strikes Down Groton Law

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Roanoke City actually tried to unconstitutionally do this to landlords. They paid squeaky wheels to go down to Raleigh NC and study their illegal "PROP PROGRAM". What stopped them wasn't that it was unconstitutional and illegal as they don't even know what the Constitution says. What stopped them was the Dillion Law that Virginia has preventing them from becoming a rogue city.


State Appellate Court Strikes Down Groton Law http://www.ithaca.com/news/state-appellate-court-strikes-down-groton-law/article_2cc25848-5203-11e7-8948-e73c9aab6d94.html?utm_medium=social&utm_source=facebook&utm_campaign=user-share



Monday, June 19, 2017

For-Profit / Non-Profit Partnership Real Real Estate Tax and Estate Planning Strategy

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Hello everyone,

I was contacted by a guy who is new to the Real Estate speaking circuit who will be driving out to our meeting to give us an interesting presentation. 

Alan Bardwell, of Irvington Sweetwater LLC, will be talking to the group about a tax / estate planning strategy that he is an expert in putting together. This strategy is for sellers of assets that appreciated, such as real estate, who would like to avoid 99% of capital gains and have immediate access to 100% of the sale proceeds without having to do a 1031 exchange to do so. With this strategy you also have no deadline or requirement for a subsequent asset purchase as you would have with a 1031 exchange. 

This technique includes your for profit company partnering with a non profit company which he says will make you exempt from 99% of capital gains taxes. An added benefit is you will retain control of the assets and activities of the partnership within your family from generation to generation without incurring inheritance or estate taxes.

I’m wondering if Alan is taking about setting up a Foundation to do so. I have been told that Foundations are the tool of the wealthy as you can transfer several million dollars to a Foundation every year and not pay a dime of taxes on any of the money you use to do so. All a Foundation requires is that you use those assets some time during the year for a cause. Such as owning a mega yacht that you take disabled kids out once in a while on a fishing trip. Who knows... I’ve been looking forward to this upcoming presentation by Allen.

Cancel your plans if you have any as there just may be that nugget of information you need in this meeting to knock it out of the park. 

See you there!

Monday, June 5, 2017

Ridding Your Rental of Nuisance Wildlife...

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Hi Everyone,

This week our guest speaker will be Theresa Tyree of Smith Mountain Lake Wildlife Control. She will lead a discussion on removing nuisance wildlife legally, safely and QUICKLY from your property. Snakes, ground hogs, bats, raccoons, skunks, foxes, coyotes, moles, squirrels... you name it. 

Theresa will give a bit of advice, offers home inspections, and answers questions. 

Come on out… it should be an entertaining meeting.

We’ll see you there!

 

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