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All Forum Posts by: Kyle Burrows

Kyle Burrows has started 3 posts and replied 6 times.

Post: Unapproved Pet - Not on Lease

Kyle BurrowsPosted
  • New to Real Estate
  • Coppell, Tx
  • Posts 6
  • Votes 3

Thanks everyone for your information, it's been helpful to get different perspectives! We are going to enforce our lease and policy, rather than collect extra fees. And ensure we include more specific details in our leases going forward.

Thanks BP!

Post: Unapproved Pet - Not on Lease

Kyle BurrowsPosted
  • New to Real Estate
  • Coppell, Tx
  • Posts 6
  • Votes 3

Hello BP! We are managing our first rental property and have come across a concern with pets at the property. 

We approved 1 dog (specifically identified on the lease) for the tenants. We recently learned that they took in a cat and did not volunteer that information to us. At this point, it is considered against our policy of no cats and no unapproved animals, in addition to a breach of lease.

The tenant is offering to pay an additional pet fee, as well as additional rent to cover the animals. But our concern is the damage the cat has potentially done or will do to the home (flooring, smell, etc.). The fee and rent may not cover the cost of floor replacement or other damage that may occur. The flooring is all luxury vinyl plank, which was installed prior to the tenant moving in. While this flooring is water proof, we are still concerned about the cat urine getting into the seams and baseboards.

Our question then is whether we should take the additional fee ($400) and rent ($25/month), or stick with our policy and communicate that they must remove the pet from the property within a stated timeframe.

Any advice or lessons learned would be greatly appreciated!

Post: CPA/Tax strategist wanted!!

Kyle BurrowsPosted
  • New to Real Estate
  • Coppell, Tx
  • Posts 6
  • Votes 3

Natalie,

Could I also get the list you mentioned?

@Natalie Kolodij

Post: Sole Proprietorship vs Partnership

Kyle BurrowsPosted
  • New to Real Estate
  • Coppell, Tx
  • Posts 6
  • Votes 3

Thanks everyone for the feedback. I think we will move forward with the partnership for now, and then pursue an LLC after we have more properties.

Post: Sole Proprietorship vs Partnership

Kyle BurrowsPosted
  • New to Real Estate
  • Coppell, Tx
  • Posts 6
  • Votes 3

Hi BP! My wife and I are purchasing our first rental property and looking to set up a DBA. After researching some information about sole proprietorships and partnerships, we are confused about the right approach.

We live in Texas and both want to work actively and equally in the business. What is the correct the classification - Sole Proprietorship or General Partnership?

Thanks for the help!

Post: Real Estate Agent San Antonio

Kyle BurrowsPosted
  • New to Real Estate
  • Coppell, Tx
  • Posts 6
  • Votes 3

I am a new investor in San Antonio, and I am interested in buying foreclosures and REOs. Does anyone have any recommendations for a good Real Estate Agent that focuses on foreclosures, REO properties, investment properties?