All Forum Posts by: Bethany Johnson
Bethany Johnson has started 2 posts and replied 2 times.
Post: Un-Permitted work and getting rental license
- Posts 3
- Votes 2
When you apply for a rental license do they look for un-permitted work? I’m new to the rental game as I’m sure my question shows my newbie status.
Reason I’m asking this question is; I bought our first house a 1915 duplex 6 yrs ago. We lived in it as a single family residence and over the years of things that looked like they had been renovated started failing… we realized the owner before seemed to have a slap it together cheaply himself mentality. So I’m worried that there might be a bunch of stuff that’s not permitted. I’ve heard horror stories of people who have to tear apart their house because of work that wasn’t permitted.
I’m wanting to buy another home and rent this out as a duplex but I’m worried that if I apply for a rental license or anything that’s dealing with the city, they might find something that’s not permitted and we’ll be stuck with a hefty bill. Is this a realistic concern? Or are there ways to prevent this? Is there a list of what they are looking for when you apply for a rental license?
This duplex is in a very desirable neighborhood so it will make conservatively 600-$1000 each month in positive cash flow. So I really want to keep this as a rental. Any advice would be greatly appreciated.
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Post: Buying old 1890 triplex. Need contractor expertise.
- Posts 3
- Votes 2
My name is Bethany located in St. Paul MN. I am a first time multi family buyer. I have an off market triplex that that is in bad condition that I want to put an offer in tomorrow. I need a contractor experienced with quirky old historic houses to walk through the house with me making note of all the problems. That way I can get a good idea of the real cost of this place in order to make a wise offer and to have the right numbers for financing.
Not sure if this is an industry standard practice or a unique ask, but does anyone know of a good person for this and how much is reasonable to pay them for their time and expertise? I am not a seasoned professional but a motivated learner wanting to avoid huge mistakes on this deal.
Ideally it would be someone who enjoys sharing their knowledge of their craft and loves to answer questions.