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Hi Canberra Girl,
I followed a similar path to you. Can I ask, have you lodged your LLC's first tax return yet? If so, which tax agent did you use?
Thanks,
SteveHi All,
I bought in April. The reno was finished in June, but still no tenant, 5 months later. The problem seems to be that my place only has one bathroom, which is apparently a non-starter for a lot of American families.
I’ve found Michael and Bronwyn to be responsive; email usually within a few days, but they always pick up the phone if you call. They also made it easy for me to visit a number of properties they were renovating at the time when I visited Atlanta so I could check out the quality of the renovation, which were really good.
If you’re considering buying, I’d definitely recommend already tenanted properties to reduce the vacancy risk. The returns of already tenanted properties don’t seem to be that much lower than vacant foreclosures. I’d also recommend you rule out any house with only 1 bathroom.
I’ll be sure to update the post if/when I get a tenant.
Steve
No idea, but I have seen a guy standing at the exit gates at Martin Pl. station in painters overalls and a sign “Work wanted”
Awesome Duckster, thanks for that.
I bought in April, reno finished around the end of June, so I’ve been waiting around 6 weeks for a tenant. The status updates have said it has been shown to a few prospectives, but I haven’t actually received any applications yet.
wanelad wrote:I was reading this forum the other night and was quite inspired for a little bit however this discussion put a bit of a wet blanket on any of the ideas for a whilehttp://www.cbsnews.com/video/watch/?id=4668112n&tag=contentMain;contentBody
That article is form Dec 2008 so it was pretty accurate for 2009. It would be interesting to see the graph of defaults to now – to see whether it has peaked.
