Lake on rental property (by Suzanne [OH]) Jun 2, 2012 7:38 AM
Lake on rental property (by David [KY]) Jun 2, 2012 9:40 AM
Lake on rental property (by JM [CA]) Jun 2, 2012 1:33 PM
Lake on rental property (by V [OH]) Jun 2, 2012 1:45 PM
Lake on rental property (by ll [AZ]) Jun 2, 2012 1:45 PM
Lake on rental property (by George [NJ]) Jun 2, 2012 2:43 PM
Lake on rental property (by Reid [KS]) Jun 2, 2012 6:49 PM
Lake on rental property (by Pattyk [MO]) Jun 3, 2012 6:40 AM
Lake on rental property (by JoeM [GA]) Jun 3, 2012 6:53 AM
Lake on rental property (by Wilma [PA]) Jun 3, 2012 10:09 AM
Lake on rental property (by Suzanne [OH]) Posted on: Jun 2, 2012 7:38 AM Message:
Considering purchase of property on 11 acres and it has a pond on the property. What are liability considerations for a rental property like this? I could probably cash flow about 200 on it.
--98.28.xxx.xxx |
Lake on rental property (by David [KY]) Posted on: Jun 2, 2012 9:40 AM Message:
If the Turtle Man was in your pond try to catch a snapper and had a finger bitten off, you might have some liability. --67.141.xx.xxx |
Lake on rental property (by JM [CA]) Posted on: Jun 2, 2012 1:33 PM Message:
Some one drowning
Good luck --76.247.xxx.xx |
Lake on rental property (by V [OH]) Posted on: Jun 2, 2012 1:45 PM Message:
How will the court enforce all the lease restrictions you would need with 11 acres? If you are new to the business this would be the worst way to start, think manageable sized rental with no mortgage to pay when the rent does not come in. --68.76.xxx.xxx |
Lake on rental property (by ll [AZ]) Posted on: Jun 2, 2012 1:45 PM Message:
Or an alligator could get into the pond, and eat the tenants kid, then in their grief they could accidentally knock over a table of candles causing the house to catch fire which in turn could cause a BBQ propane tank to blow up just as a truck filled with nuclear waste was passing by, thereby rendering the entire state uninhabitable and leaving you liable for 300 years of clean up! ;-)
I don't know. Buy it if you want it. Check insurance first.
--166.216.xxx.xxx |
Lake on rental property (by George [NJ]) Posted on: Jun 2, 2012 2:43 PM Message:
It's not like a swiming pool that had to be built by code with a fence, right? I would bet a natural pond is a different animal entirely. I have a running brook by one of my rentals, nothing that I can do about it, it's just there. Sure if something happens you'll be the first one to be sued, but even if they trip over their own feet, fall and hurt themselves, it'll still be "your fault". --71.48.xxx.xxx |
Lake on rental property (by Reid [KS]) Posted on: Jun 2, 2012 6:49 PM Message:
Ohio like Kansas is an agricultural state and 11 acres I would think makes this a small farm with a pond and here landowners have extra protection when leasing / rents pasture / fields Check with your local extension office. --108.236.xx.xxx |
Lake on rental property (by Pattyk [MO]) Posted on: Jun 3, 2012 6:40 AM Message:
check with your insurance company.
Can you fence off some land with the house and rent only that section? --184.239.xxx.xxx |
Lake on rental property (by JoeM [GA]) Posted on: Jun 3, 2012 6:53 AM Message:
11 acres is a large plot for a tenant to care for. You might see if you can purchase and sub divide. Keep the house and an acre or two to rent and sell off 9-10 acres including the pond.
--98.66.xxx.xx |
Lake on rental property (by Wilma [PA]) Posted on: Jun 3, 2012 10:09 AM Message:
Sounds like ll was up on a roof in 110 degree heat again! --96.227.x.xx |
Reply:
|
|