Good Bones Real Estate Investing

This one's personal, Justin's been a client of mine for years, and in this episode, we finally unpack the horror story we've been sitting on for two years. What started as a killer commercial deal turned into a sewer line lawsuit with a surprise twist… and a happy ending (yes, with beer). We talk due diligence, problem-solving under pressure, and lessons from navigating the unexpected.

Frankie Dulli's first deal with a partner looked like a textbook BRRRR win until the tenant moved in. From a cracked sewer line and a porta-potty in the backyard to unpaid rent, court dates, and an excuse involving kidnapping, this story has it all. If you've ever been tempted to skip a background check or sewer cam, let this episode stop you in your tracks.

This week on House of Horrors, I'm joined by Bob Lachance, a former pro hockey player turned investor who shares how he lost $150K on a knockdown rebuild in Greenwich, CT and what it taught him about trusting partners, doing due diligence, and not falling for “can't-miss” deals. We also dive into a shady property management horror story and how Bob uses VAs to scale smart.

In this episode of the House of Horrors podcast, attorney and host Bonnie Galam talks with John Todderud, a multifamily investor and syndicator, about a terrifying moment in his real estate journey—when he got a call that one of his properties was on fire. John shares how a simple cleaning mishap led to a fire scare, what he learned from the experience, and how it shaped the way he manages properties today.You'll learn:How to safeguard your rental properties from fire hazards and implement better safety systems.The importance of vetting property managers and ensuring they follow crucial tenant screening procedures.What to look for when selecting a property manager to avoid costly mistakes.How networking played a critical role in John's growth as a real estate investor.Why hands-on experience is invaluable, but knowing when to step back and scale with a team is key.

In this episode of the House of Horrors podcast, attorney and host Bonnie Galam talks with Kaydee Smith Myers, a former commercial real estate attorney turned part-time investor, about the challenges of real estate investing and how to navigate unexpected issues. Kaydee shares a series of unfortunate events she encountered in the past year, from tenant evictions and property damage to plumbing emergencies and insurance battles.You'll learn:How to manage unexpected property maintenance and large capital expenditures.The importance of tenant communication and strategies to handle non-payment or evictions.How to deal with insurance claims and protect yourself legally as a real estate investor.The pros and cons of using LLCs for asset protection and how to decide what works best for your portfolio.Insights into walkable real estate, historic properties, and housing development controversies. 

In this episode of the House of Horrors podcast, attorney and host Bonnie Galam talks with Sarah Weaver, a real estate investor and coach, about a heartbreaking experience she faced as a landlord: a tenant's suicide. Sarah shares how she handled the shocking news, worked with the police, and supported others who were affected by the tragedy.You'll learn:What to do if a serious crisis happens in one of your rental properties.Why having strong systems and policies in place makes handling emergencies easier.How to stay kind to others and take care of yourself in tough situations as a landlord. 

In this episode of House of Horrors, attorney and host Bonnie Galam welcomes Grace Gudenkauf, co-founder of the WIIRE Community (Women Investing in Real Estate). Grace shares her wild first-time landlord experience managing inherited tenants in a duplex. From 3AM toilet emergencies to family drama, hoarding, and a tenant moving out one box at a time on his mobility scooter, this story showcases creative problem-solving in property management. You'll learn:1. How to balance being compassionate with tenants while protecting your property and other residents' interests2. Effective strategies for transitioning inherited tenants to new property management systems and policies3. Why maintaining professional distance through property management software and business practices is crucial, especially as a young or new landlord

In this week's horror story, real estate attorney Bonnie Galam dives into the ever-increasing crime of listing fraud. Bonnie also shares an interesting professional dilemma for semi-professional real estate investors. You'll learn:1. 5 ways to protect your listing2. Red flags to look out for in rental listings3. The way scammers get rentals to fall for their scams

In this episode of the House of Horrors podcast, host and real estate attorney Bonnie Galam dives into the world of mortgage fraud. According to recent studies, a lot of investors and lenders are playing fast and furious with their loan applications.  In this episode you'll learn about:A fistfight at a closingThe illegal actions Fannie and Freddie Mac say are running rampant in the investing communityWhat changes to commercial underwriting to expect to see in the future

In this episode of the House of Horrors podcast, host Bonnie Galam delves into the fraudulent schemes of Theodore 'Teddy' Miller, the so-called 'Wolf of West Virginia' who got people to invest hundred of thousands into properties he didn't even own.In this episode you'll learn:To anticipate securities regulations when investing passivelyHow to conduct due diligence on passive investmentsRed flags in "too good to be true" investment opportunities

In this episode, real estate attorney Bonnie Galam recounts the harrowing tale of Herbert 'Herb' Whalen, a fraudulent property manager in Indianapolis. Learn how Whalen's web of deceit led to massive financial losses for investors and discover essential legal tips to safeguard your investments from similar scams. In this episode you'll learn:The trust but verify method of engaging a property managerPractical advice for vetting property managersLeaning in during the age of quiet quitting

In this episode of the House of Horrors podcast, host Bonnie Galam, dives into an in-depth discussion on a harrowing case of contractor fraud involving a contractor who defrauded multiple homeowners out of hundreds of thousands of dollars, turning their renovation dreams into nightmares. In this episode you'll learn:Practical advice for vetting contractorsThe importance of written contracts Avoiding large upfront paymentsKnowing when to escalate disputes to criminal proceedings

Would you buy a property that had a residential tenant with a 30 year lease? I suppose there's a price for everything. To know the price, you have to know what your dealing with. In this episode you'll learn:Listing strategy with an "undesirable" tenantLegal options when inheriting a tenantThe legal steps to evaluate a tenant-occupied property

In this episode, real estate attorney Bonnie Galam discusses the legal implications of tenants having emotional support animals, specifically focusing on unusual case of an emotional support alligator. She explains the difference between service animals and emotional support animals, and how the Fair Housing Act and ADA apply to emotional support animals in rental properties. In this episode you'll learn:What kind of documentation can you request from a tenant with an unusual service animal or ESA?What laws you need to know to navigate tenants with pets and service animals (because they aren't pets)What you can't do to tenants with service animals & ESAsResources mentioned in this episode:

In this episode, Bonnie Galam discusses a real estate horror story where a developer built a house on the wrong lot.  In this episode you'll learn:  The absurd reason why the wrong property got a new house on it The two types of legal mistakes How to avoid making an expensive mistake like this when dealing with contractorsDISCLAIMER: Although Bonnie is an attorney she doesn't give legal advice without a dually signed engagement agreement. All episodes of Good Bones Real Estate Investing are educational and informational only. The information discussed here isn't legal advice and isn't intended to be. The information you listen to here isn't a substitute for seeking legal advice from your own attorney © 2021-2023 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC

You heard the buzz about WY, NY, DE LLCs, but what's the real deal with them? Let's pull back the curtain and reveal the truth about how these "special" LLCs actually work.

Want to be proactive and not reactive? Then you gotta have a lay of the land! Because if you don't know what you're working with, then it's really hard to make smart investing and management decisions to move forward and scale easier.In this episode you'll learn:The management mindset I carry over from my other businesses to my rentalsThe power of tracking KPIs in your rental businessThe CEO step you have to take after auditing your rentals

Passive income as a landlord is a myth and .... you probably shouldn't be chasing it anyway. Whether you still think passive income is the goal or are wondering *what exactly * is passive in real estate after diving into it, this episode is for you!In this episode you'll learn:Why passive income is a deceptive termThe 3 types of taxable income & the MAJOR tax benefit of being an active landlordThe sweet spot between active and passive landlording

Feel like its gotten a lot harder to be a landlord over the past few years thanks to increasing regulation, oversight, and ? Yeah me too. Let's take a look at where we are, where the political landscape is going and what you can do about it. In this episode, we'll chat about:What investors can do to have a seat at the tableHow much should laws affect your market shopping?How to keep your investing biz compliant in an rapidly changing legal landscape

Real estate investing is just part of our lives. Not our whole life. So how do you manage it all? These are the 3 rules I swear by to keep me sane and on track.In this episode you'll learn1.  How to stay ahead and on top of everything you need to do as a landlord2. What a proactive management system looks like in my rental business3.  The "10 Minute Rule" that saves me hours every week

With the "perfect BRRRR" getting increasingly harder to find and the fed increasing interest rates multiple times a year, the financing world we've lived in the last decade or so is over. Many landlords have built their portfolio using the power of cash-out refinances but now the threat of cash-in refinances is very real. In this episode you'll learn:What type of financing is at particular risk of a cash-in refinanceWhat to do to prevent a cash-in refiHow to evaluate deals in an increasing interest rate environment

You already know that lawsuits are a risk to your assets, but have you ever considered the size of your portfolio? In this episode you'll learn:Why the small landlord stage is so riskyThe unspoken reasons why small landlords sell off their propertiesWhy staying small is unsustainable in the long run

Lease renewals are deceptively difficult. It's something that can be easy to not give much thought but has long-term trickle down effects to not just your cashflow but your ability to easily navigate an eviction or tenant disputes.In this episode, we're going to cover:Why I don't like letting leases lapse into month to monthWhen to use a lease addendum vs new lease Legal landmines surrounding long-term tenancies

There's more to a lease than its terms. As a landlord, the systems and processes around your lease are often just as important to prevent legal headaches and save your sanity.In this episode you'll learn:1.  Where to get a good lease2. What documents should be included in your lease package3. Who needs to sign the lease4. How to legally & efficiently accept security deposit and advance rent

Accessory Dwelling Units & Mid Term Rentals are two of the hottest residential investing trends right now. In this episode, Bonnie breaks down how to protect them. In this episode you'll learn:1.  Considerations to determine if a separate entity is even possible for an ADU2. What type of entity to put a MTR or ADU into3. Some offensive asset protection options for ADUs ❓Click here to leave your question for Bonnie© 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC

News You Can Use: Let's talk about office space conversions! In this episode you'll learn:1. What types of financing do these projects entail2. What investors are turning office space into 3. The government incentives available for office space conversions4. The demographic indicator where office conversion succeedHave a question you'd like answered on the podcast? Click hereDISCLAIMER: Although Bonnie is an attorney she doesn't give legal advice without a dually signed engagement agreement. All episodes of Good Bones Real Estate Investing are educational and informational only. The information discussed here isn't legal advice and isn't intended to be. The information you listen to here isn't a substitute for seeking legal advice from your own attorney © 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC© 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC

Contracts are the cornerstone of your investing operations & growth. But understanding and optimizing them is a missed opportunity for most real estate investors. In this episode we'll cover:The contract drafting mistake putting your off-market deals at riskMy 6-step contract review processKey terms all contracts to purchase real estate need. Read full show notes: bonniegalam.com/73DISCLAIMER: Although Bonnie is an attorney she doesn't give legal advice without a dually signed engagement agreement. All episodes of Good Bones Real Estate Investing are educational and informational only. The information discussed here isn't legal advice and isn't intended to be. The information you listen to here isn't a substitute for seeking legal advice from your own attorney © 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC© 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC

Estate sales are a great way to score investment properties. But what happens when you've got 2 layers of probate? In this week's episode with David Dodge, you end up with an unenforceable contract, a year long contract period, and a whole family tree to deal with.In this episode you'll learn:What to look out for when signing a contract for an estate propertyHow to provide value to sellers of an estate propertyThe clunky administrative hurdles you need to overcome to close an estate sale⬇⬇⬇// RESOURCES:Show notes: bonniegalam.com/72 © 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC© 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC

This week's guests on House of Horrors, Mel and Dave DePuis, shared due diligence and entity structuring mistakes they made early on in their career but affected over a dozen of their properties. In This Episode You'll Learn:Structuring mistakes that can be expensive to unwindThe costs of failing to properly do due diligenceHow to continuously level up, even as an experienced investor⬇⬇⬇// RESOURCES:Show notes: bonniegalam.com/71 © 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC

By going from working with real estate attorneys to becoming one herself, Bonnie learned the ins and outs of the role real estate attorneys play for real estate investors… but perhaps most importantly what they leave on the table. In this episode, you'll learnFee structures to expect for real estate attorneyFinding the balance between real estate law and the reality of real estate investingThe limitations of the law firm model⬇⬇⬇// RESOURCES:⚖️ Check out Landlord Law SchoolRead the full show notes & blog© 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC

Househackers hold a special place in my heart. They are scrappy and determined to reach financial independceYou'll learn:What insurance mistakes househackers are prone to makingThe landmines of living next to your tenantHow much insurance should you be carrying?⬇⬇⬇// RESOURCES:1 .

Tenant turnover is one of the most burdensome parts of being a Landlord. After 10 years of self managing hundreds of turnovers, Bonnie has seen the good, bad, and the straight up ugly. Learn 7 of Bonnie's top legal and property management tips to take the pain out tenant turnovers. ⬇⬇⬇In this episode you'll learn: What simple lease changes you can implement to make your lease work for you moreHow to communicate turnovers with tenantsWhy you need to confront the painful parts of business// RESOURCES:

Flips that flopped may seem like a thing of the past in this market with fast appreciation. But what happens when you gotta dig into your own pocket to sell a flip? This week's horror story with James Ledbetter is an expensive lesson in partnerships, flipping, understanding the market, and contracts. In This Episode You'll Learn:How to properly vet partners so you're prepared for the good, bad, and uglyWhy all contracts are not made equallyThe risks of jumping from one exit strategy to another⬇⬇⬇// RESOURCES:Get 10% off the template shop this week with code “PODCAST”Download my free legal checklist

We all know about househacking but have you ever heard about about hacking senior living? Well this week's guest on the podcast did just that! Isabelle Guarino-Smith shares how she got into Residential Assisted Living and 3 Legal Landmines facing investors in this asset class. In this week's episode you'll learn:How to navigate NIMBY-ism when you need zoning The 3 top legal risks facing Residential Assisted Living homes and how to navigate themThe most successful types of financing for RALs ⬇⬇⬇// RESOURCES:✅ Download my free legal checklistsRead the complete show notes

If you're using text messages to run your real estate investing biz, then you're gonna want to tune into this week's podcast episode about why you shouldn't be! In this episode, Bonnie puts on her trial lawyer had and gives you a crash course in evidence law (Law & Order Style) so you know what you need in your back pocket to win in court. In This Episode You'll Learn:The 3 evidentiary hurdles text messages need to pass4 Reasons why text messages are weak in court My preferred methods of communication⬇⬇⬇// RESOURCES:

What happens when you find out mid-transaction that the property you're under contract for isn't the property you want?⬇⬇⬇In this episode you'll learn Where the law draws the line for a real estate agent's responsibilities What constitutes fraudulent representations How asset protection structures come into play in mid-transaction lawsuits// RESOURCES:

Other people's money can be a great way to skyrocket your portfolio without the headache of dealing with banks. But what headaches come with private money? Let's talk about it with Dave Dubeau!In this episode you'll learn:Where the legal risks lay in raising private moneyHow to find lenders in your existing networkDave's money partner formula to create a flywheel of private investors⬇⬇⬇// RESOURCES:

Even if you aren't doing creative deal structuring like this week's guests, I'm willing to bet you've thought about wholesaling a deal. Fundamentally, this is a wholesale deal gone bad. What happens when the end buyer goes off the rails…. or ends up in jail? Tune in to find out!⬇⬇⬇In this week's episode you'll learn:Red flags to look for during a creative financing transactionHow to properly evaluate an “end buyer”The value of lawyer-prepared documents to CYA in messy situations// RESOURCES:

Buying non-performing notes is not for the weak of heart. In the best-case scenario, you've got an uncomfortable situation with the homeowner. Worst case a messy foreclosure. But the $5000 note Derek Dombeck purchased turned out to just be UGLY. ⬇⬇⬇In this week's episode you'll learn:How to evaluate note purchasesWhere a private money lender thinks the housing market is goingNavigating deals that involve difficult homeowners// RESOURCES:

If you're currently collecting rent using Venmo/Zelle/Cash…. No shame…. But you might want to think twice about it. The risks of using these payment apps may feel like just another real estate investing boogie man but the consequences can be ugly.In this episode you'll learn:1️⃣  Why your current usage of these payment apps is probably illegal2️⃣  The consequences of using these apps besides risking account shut down3️⃣ A refresh on rent collection best practices⬇⬇⬇// RESOURCES:Download the Ultimate Legal Checklists for LandlordsCheck out the show notes at bonniegalam.com/60

There are no cheap tax mistakes just like there are no cheap legal mistakes. In this week's episode, Bonnie is joined by CPA Amanda Han to discuss common tax mistakes real estate investors make. In this Episode, You'll Learn:           1️⃣  The tax consequences of having too many entities           2️⃣  The importance of understanding key terms when speaking with your CPA or attorney           3️⃣  Obtaining the deductions you want through proactive tax planning⬇⬇⬇// RESOURCES DISCUSSED IN THIS EPISODEDownload Amanda Han's free E-BookPurchase Amanda Han's Biggerpockets Tax BooksThe Book on Tax Strategies for the Savvy Real Estate Investor Amazon | BookshopAdvanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors Amazon | BookshopUse coupon “TAX” to get $400 off LLS this week only (ends 8/

If you've ever thought, “I'll worry about the legal stuff once I get bigger”... I want you to pull the podcast emergency break and tune in to this episode. Because judges, attorneys, and plaintiffs don't care if this is your first property or your fiftieth.In this episode you'll learn:     1️⃣  Why more properties don't mean more risk     2️⃣  The reasons why asset protection doesn't work retroactively     3️⃣  Why legal can actually be MORE expensive down the line RESOURCES:

Tenants can do the darndest things and unexpectedly finding a SWAT team outside your building is up there on that list. That situation happened to Amanda Micire with a rental she purchased just days beforehand.In this episode you'll learn:          1️⃣  Eviction alternatives to put on the table when the tenant technically didn't do anything illegal          2️⃣  Navigating communication with a tenant in tricky situations          3️⃣  Conducting due diligence on tenant-occupied properties⬇⬇⬇// RESOURCES:✔️Download my free Legal Checklists by clicking here

The way you approach repairs should be the way you approach legal. You prepare for the worst-case scenario, but you also prepare to manage the little annoying stuff - especially so it doesn't turn into the big stuff. Legal is the same. Tune in to learn:      1️⃣  Why I'd pick a house flood over a leaky faucet     2️⃣  How to identify the “leaky faucet” legal problems in your investing business     3️⃣  What you can do to stop losing time and money     4️⃣ Why “flood” asset protection strategy leaves you exposed

Contractors are legal landmines. They can sue you, they can blow up your budgets and deadlines, they can put liens on your houses, and they can run away with your money. What's an investor to do?! In this week's episode, you'll learn the 5 steps you can proactively take to avoid contractor problems.In this week's episode you'll learn:1️⃣ How defensive asset protection tools like LLCs and insurance cover you in contractor disputes2️⃣ What to look for when vetting a contractor3️⃣ What type of documentation you should have for your contractor relationship

Getting sued is awful, even if you win. This week I pull back the curtain on an awful personal lawsuit so that you can hopefully avoid a similar fate. In this week's episode of House of Horrors you'll learn:1️⃣ Unexpected situations that arise in lawsuits2️⃣ What to do if and when you get sued3️⃣ When you should consider having additional LLCs and insurance4️⃣ How to fill in the gaps that lawyers leave open

John Oliver, the host of Last Week Tonight with John Oliver, shared his thoughts on rental housing crisis in America  from evictions, to rental increases, to proposed solutions and Bonnie has thoughts!Tune in to this special bonus episode to hear real estate lawyer and investor Bonnie Galam react to John Oliver. In this episode you'll learn:1.  How we as small housing providers need to reframe our position and gain a seat at the policy table2. The economic drivers of increasing rent3. What are some reasonable policy steps both Landlords and Tenants can agree upon?Audio credits: HBO MaxDISCLAIMER: Although Bonnie is an attorney she doesn't give legal advice without a dually signed engagement agreement. All episodes of House of Horrors are educational and informational only. The information discussed here isn't legal advice and isn't intended to be. The information you listen to here isn't a substitute for seeking legal advice from your own attorney © 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC

LLCs aren't the magic bullet most lawyers make them out to be. Whether you have all your eggs in the "LLC basket" or are investing without one, understanding that LLCs won't make you or break your asset protection plan is key. In this week's episode you'll learn:  The situations where LLCs won't make a difference  How I realized that reliance on LLCs left real estate investors seriously exposed  The difference between internal and external threats to your real estate  What an LLC does help with during a lawsuit

Could you imagine wanting to get rid of a paying tenant? Now imagine the law getting in your way BECAUSE they are paying! The frustration is palpable in this week's episode with Frank Semo.In this week's episode you'll learn:Navigating your tenant calling the police on youTenant due diligence best practicesSelling a tenant-occupied propertyDISCLAIMER: Although Bonnie is an attorney she doesn't give legal advice without a dually signed engagement agreement. All episodes of House of Horrors are educational and informational only. The information discussed here isn't legal advice and isn't intended to be. The information you listen to here isn't a substitute for seeking legal advice from your own attorney © 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC

If you've only had easy tenants, your world can feel turned on its head when a tenant becomes nonpaying, destructive, or emboldened by bad attorneys..... or in the case of this week's horror story all of the above.  This week on the podcast we'll share:The emotional difficulties that come alongside an evictionWhat to do when Section 8 providers throw in the towelThe value of de-escalation in tenant conflictsDISCLAIMER: Although Bonnie is an attorney she doesn't give legal advice without a dually signed engagement agreement. All episodes of House of Horrors are educational and informational only. The information discussed here isn't legal advice and isn't intended to be. The information you listen to here isn't a substitute for seeking legal advice from your own attorney © 2021-2022 Bonnie Galam LLC | All rights reserved | Any use of this intellectual property owned by Bonnie Galam LLC may not be used in connection with the sale or distribution of any content (free of paid, written or verbal), produce, and/or service by you without prior written consent from Bonnie Galam LLC