All Forum Posts by: Jennie Ballard

You said you can message him on Facebook. Can you post a comment on his page saying Landlord of Name needs to talk to him? You might be able to get a contact that can help or atleast give you a timeline for how long he will be gone.

I owned rabbits and guinea pigs as a kid. I agree with above poster plus mine liked to bit carpet and ripped hole in it once. Waste is not as bad as dog or cat.

I would have pet addendum with non-refundable fee plus notice of paying for damage on move out.

From tenant side in Iowa, when my cat died we printed out primary lease page and pet addendum. These were marked up by hand, signed by both parties, and dated. Markup up was strike thru on pet rent amount and pet description with notation that cat was removed from property on XX date. The lease amendment was scanned and added to my rental portal along with a hard copy for me to keep. I was not refunded the pet fee nor expected it.

@Johann Jells Maybe? *shrug*

The good news is every insurance, boiler, city code, fire marshall, nuclear board, etc inspection I've dealt with resulting in pass or fail with detailed list of non-conformances. The list of non-conformances included timeline to remedy the situation with process to have re-inspection. We fixed the items and reinspected or raised objection to super stupid issues. None of the inspections have been "fail and we'll never insure/license you to operation without recourse".

The official flammable cabinets can be unvented. The big difference are heavier metal and meeting code. You are step up from a lot of people that just have an entire shelf of paint, thinners, etc without any containment.

Not dealt with residential / landlord workshop permitting yet. Just starting my real estate venture so can't help with that. Proper chemical storage and fire extinguishers is a good start.

Please buy the correct storage cabinet and save yourself potential fire and liability issues. A proper flammable cabinet that meets NFPA standards is $370 - $2000 brand new from Grainger depending on the size. You can get one secondhand for much cheaper. Have a logbook near top of steps with list of chemicals in cabinet and you should be good. Also consider an oily rag rated trash can depending on what you do. 

Note: Written as engineer in petrochemical field that has to respond to shop fires and help coworker that had garage shop burn their house down.

Thin paint scrapper to lift them a bit then a pair of needle nose pliers to pull. If you grab top of staple lengthwise in jaws and roll sideways they come out easier without breaking arms off. The pulled staple is rolled into a c or @ shape.

We are moving to south side of DFW and are looking to get into real estate. I'd appreciate a gander at our plans.

Resources:

Me: 60k cash (CARES IRA withdrawal), currently looking for new 100K+ W2 job. A truck with $521/mo loan and value=loan amount is only debt. Also have paid off cargo trailer (~$5k) and car (~$2k). Currently making ends meet on unemployment check.

Hubby: Self employed electrical engineer but all contracts have dried up. RV (~$17K) paid off and our primary residence.

Brother-In-Law: Landlord in the area and willing to advise and refer realtor, lawyer, contractor, etc. Maybe willing invest

Grandma-In-Law: Retired construction & rehab superintendant, willing to advise and maybe invest.

Goal: Small porfolio of rentals that provides cash flow to invest towards future kids college and builds equity.

Plan:

-Setup LLC that has managing members and investing members in Operating Agreement with buy in/out information.

-Buy a distressed property outright and get rehab loan or buy a duplex/triplex that is already leased out. Distressed property ie new roof is ~$45K for 2/1 while good condition is ~$110K or triplex of 1/1 is ~$140k. 

As I understand things, having hard cash but no W2 job rules out conventional lending so starting with LLC doesn't affect lending opportunities. The potential of family members investing points at LLC treated like partnership with K-1 forms. We can declare as women owned business since startup cash is all mine and I will be doing the deal analysis/ bookkeeping.

What am I missing? Thanks for any advice!