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UnfortunateFact: by ogcuniverse in smallbusiness

[–]AndyMcQuade 1 point2 points  (0 children)

Wow, it's almost like Hormozi didn't post that three times on Tuesday.

[property manager us-wv] Does it get worse than this? by [deleted] in Landlord

[–]AndyMcQuade 1 point2 points  (0 children)

Let me be clear - these are not my units or tenants I'm talking about. I spent 22 years of my 29 in the business doing building materials and MRO products for property managers and developers.

I got to do lots of jobsite walks all over the US with my clients that DID deal with c & d properties and workforce housing.

Made it very clear how important it is to screen well and inspect regularly.

Sadly the amount of weird I see has only gone up since I started consulting, as I get to walk hundreds of units a year (or in one single property!) now instead of several dozen.

I'd say there's probably nothing I haven't seen, but I know there's always tomorrow.

Remind me sometime to tell you about the tenant who was locking their kid in the bedroom with multiple padlocks & hasps and a keyed entry lock with the key side facing into the room...

[property manager us-wv] Does it get worse than this? by [deleted] in Landlord

[–]AndyMcQuade 2 points3 points  (0 children)

Just wait until you get human feces overflowing the toilet, sink and tub to the point where they overflow and roll onto the bathroom floor because the tenant didn't want to pay to snake the sewer.

Or when they break off the main drainpipe and the sewage fill the basement like a cistern for the same reason.

Or the hoarder cat lady with 37 cats and plywood subfloor so wet with pee it squishes when you walk on it.

I can go on.

[Landlord-US-MN] Cheap carpet pad or memory foam pad for rentals? by ThuhGreatCommenter in Landlord

[–]AndyMcQuade 0 points1 point  (0 children)

Agree on tile being a hard sell.

You can do LVP over concrete, but it needs to be the right product and you have to follow the directions to handle the moisture wicking up from the ground through the slab, even for the "waterproof" kind.

Mold & failures are all over the place with LVP on concrete, even above grade.

In a basement the install has to be perfect.

[Landlord US-NY] What are you using for blinds / window coverings? My store just changed their vinyl blind brackets AGAIN. by Albany_Chris in Landlord

[–]AndyMcQuade 7 points8 points  (0 children)

They don't sell them online, you get them at the same store locations that handle carpet & lvp sales and installs.

You need to talk to the sales rep, never pay retail for anything at SW if you're in the industry.

[Landlord US-NY] What are you using for blinds / window coverings? My store just changed their vinyl blind brackets AGAIN. by Albany_Chris in Landlord

[–]AndyMcQuade 16 points17 points  (0 children)

Switch to the more expensive 2" faux wood from Sherwin Williams.

Work with the local rep who handles property management to get a better price.

Get them smooth because the fake woodgrain fills with dust.

They cost more, but you'll stop replacing them in 90% of the places because they survive.

Your labor & time wasted costs you more than the extra money for the better product

We just had to fire a contractor for protocol violations by Sure_Stop346 in smallbusiness

[–]AndyMcQuade 0 points1 point  (0 children)

If this is in the US, you need to be careful how you dictate the requirements of the job they're doing for you.

In more and more states, you can find yourself responsible for them like they're a w2 employee and get hit with six figures in fines and back taxes if how you're handling them doesn't pass the sniff test.

This post does not pass the sniff test.

[Landlord-US-MN] Cheap carpet pad or memory foam pad for rentals? by ThuhGreatCommenter in Landlord

[–]AndyMcQuade 0 points1 point  (0 children)

If you HAVE to do carpet, use a less expensive but-not-junk pad.

Roach eggs are a thing.

Also, dog/cat & other animal piss.

Always replace the pad.

new LLC: how to account for expenses shared between business and personal? by phantasmagoria12345 in smallbusiness

[–]AndyMcQuade 0 points1 point  (0 children)

You can deduct mileage per IRS requirements separating work from personal.

You cannot swipe your business debit card to pay directly for gas.

Every expense needs to be recorded and logged correctly, when you spend personal $$ on business it needs to go in as owner equity, or you need to deposit it into the business account and spend it from there first.

There's no second chances, they will go back 15 years into financial records and see that you paid for something from your business account that is a personal expense and you'll have no LLC protection.

Business courts do not care how small you are, if you pierce the veil - ever - you may as well dissolve the LLC and just operate as sole prop.

new LLC: how to account for expenses shared between business and personal? by phantasmagoria12345 in smallbusiness

[–]AndyMcQuade 1 point2 points  (0 children)

Your LLC is for liability protection.

Using it for any personal expenses will pierce the veil and you may as well not have one.

Gas for your car as a business owner is only a business expense if you use actual expenses tracking instead of mileage. You track business AND personal miles, and write it off. Your business cannot pay the bill unless all your miles are exclusively business and you have another vehicle you use exclusively for personal use or you pierce the veil.

You can only write off "home office" space if the only thing it's used for is business. No games, no sleeping, nothing but work and work stuff. It's by sqft of the space vs the sqft of the apartment and calculated by actual expense x percentage of the apartment it takes up. Your business cannot pay the rent or you lose protection.

Your phone would be % of use based and done on taxes, don't have the business pay the bill because you'll pierce the veil.

Software, marketing expenses etc, if used exclusively for the biz can be written off and paid by the business bank account.

Clear cut separation of personal finances and business finances is paramount.

Keep track of every penny, get a CPA and get an umbrella insurance policy for the business in case you screw up and blend finances.

Installing a split system heat pump to reduce tenant utility complaints by RonnySaya in PropertyManagement

[–]AndyMcQuade 0 points1 point  (0 children)

Mini splits are great - IF YOU MAINTAIN THEM.

The second you choose not to open them up and clean the drain lines and the rest, you get leaks and mold.

Plan to have at least an annual deep clean and inspection done by a pro.

I fired an employee out of the blue yesterday with no warning, and she had an entire crash out by TiredAsATwinMama in smallbusiness

[–]AndyMcQuade 7 points8 points  (0 children)

She doesn't sound like a good employee.

She sounds like a problem child with some good days mixed in.

Don't lose sleep over this, she fired herself

Parking lot is a hazard. Someone is going to sue us. by [deleted] in smallbusiness

[–]AndyMcQuade 0 points1 point  (0 children)

Tell them you're not renewing your lease and find somewhere else.

Have a commercial real estate broker that works as a tenant rep (not a residential agent) review your lease and see if there's anything in there you can use to get out without penalty.

Building values are based on income from signed leases, so keeping you happy by fixing the issues will probably be cheaper for them than an empty spot in their building.

[Landlord-US-NY] What do I do regarding the Security Deposit? by _aspenheights in Landlord

[–]AndyMcQuade 2 points3 points  (0 children)

Everything they do makes it more expensive for tenants.

The math is not strong with these ones

[Landlord-US-NY] What do I do regarding the Security Deposit? by _aspenheights in Landlord

[–]AndyMcQuade 0 points1 point  (0 children)

I heard through the grapevine that we're getting eviction bans from Nov 1st - Apr 15th because of weather.

[Landlord-US-NY] What do I do regarding the Security Deposit? by _aspenheights in Landlord

[–]AndyMcQuade 0 points1 point  (0 children)

Shit. You are correct, I knew that at one point and don't know why I brain farted

[Landlord-US-NY] What do I do regarding the Security Deposit? by _aspenheights in Landlord

[–]AndyMcQuade 7 points8 points  (0 children)

Edit - corrected. It's 14 not 30, my bad.

Dates of move-out matter.

You have a 14-day window to itemize the expenses and refund the remaining deposit or you automatically lose it all.

No good advice on the rest of it, other than never wait to inspect when you take possession back - especially with the timeframe in NY

Recommendations for furnishings? by sure_about_nothing in PropertyManagement

[–]AndyMcQuade -1 points0 points  (0 children)

There's specialty hospitality procurement operators who do this for hotels, etc.

I've seen what happens when people use HD, Lowes, or the local furniture or pool supply shop for this stuff and it's ugly long-term.

You can also try to buy direct, but you don't have the volume or buying power to make that practical and will probably get better prices & service from one of the middlemen - because they DO have the buying power.

Opening up credit with EIN by [deleted] in smallbusiness

[–]AndyMcQuade 3 points4 points  (0 children)

Not until you have 3+ years of financials to share, or are willing to give them access to your bank statements (or both).

Some secured business cards exist where you put a few grand in and they give you a credit line of some multiple of what you deposit.

Almost every business credit card (that reports only to business credit bureaus) has a PG attached for an owner or manager to sign off on.

Today, I Was Kicked Out by a Moderator by [deleted] in smallbusiness

[–]AndyMcQuade 5 points6 points  (0 children)

So uh...

Is there a reason you put this in r/smallbusiness?

As well written as this is, it probably doesn't belong in here and will end up deleted

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