All Forum Posts by: Melissa N.

That's awesome Joe!! Congrats. 

When does the lease end? You can absolutely charge a late fee (and should!) but it needs to be in your lease. Alternatively you can speak to a lawyer about adding an addendum but that probably won't work. 

@curtis waters are there any meetups in Ballantyne during the day (lunch, etc.)? I've searched but haven't found one.

It's a personal choice but I would buy another. If your goal is to build wealth, leverage is a key component of that. Check out Clayton Morris' recent podcasts about making that same choice and leverage (Episodes #103 and 106). 

I used Jim Kelly at RKPT Law Firm for my recent acquisition of a 12-unit. Not sure what type of lawyer you are looking for but they were easy to work with and very on top of things.  

Hey Todd, 

How's it going!? You can call around and see if anyone is charging RUBs in your area.  Just call as a renter and see what is included in the rent. I know near my building, I've only found one other building that is currently charging a RUB ($25 for water/sewer). 

I also called a property manager that has a few buildings in my area and they had never heard of RUBs but loved the idea. My hope is to keep in contact with them to help change the climate in the area. Networking is important even after you buy! 

I'm also looking at the average income of the renter in the area so I know what they can afford. I think that has to play a role. Our plan is to submeter down the line since we have individual water heaters and then the tenant gets an actual bill so we don't have to worry about confusion over "am I paying my fair share". 

Still sorting this out myself so I'd love to hear more from others. 

I've been on the phone with 6 different electricians today, finally got one to confirm this is not Stab-Lok (no one else would tell me based on a pic, they said they wanted to see the whole thing). 

This is apparently "Bolt-In". My first lesson in electrical work! 

Hey @Mike McCarthy , 

Thank you for the reply! So is this a Stab-Loc? I would say yes since it has the red switch -right? 

Hello BP family,

We close today on our first 12-unit! Woohoo. Now the bad part - the seller was supposed to replace all Federal Pacific Panels but left a few off her list (sigh). I've included a picture of the panel box in question. My understanding is that the red switches are a clear indicator that these are stab-loc (I'm no electrician so I go with easy signs ha). Are these Federal Pacific Stab-Loc? Thanks everyone! 

Hello,

This may be a stupid question but are all Federal Pacific Panels, Stab-lock? I am closing on a building tomorrow that had Federal Pacific and they were supposed to replace them before we close tomorrow. They replaced all but 2 and said that those are not Stab-Lock. I had requested that they all be replaced so I am asking for a credit to complete this but not sure if they need to be replaced. 

Thanks! 

Melissa