All Forum Posts by: Sabine French

Instead of selling it, since you completely own it, could you rent it out and also take equity out of it to purchase another rental property? Look up the BRRRR method.

Yes, to elaborate on a response above, the Triad is what Winston Salem, Greensboro, High point is called. The Triangle is Raleigh, Durham, Chapel Hill. Good luck. 

Thank you for the replies.

To better understand: If I’m working with the existing footprint of the warehouse, can a storage tank still be an issue? Can’t I just leave it, if there is one?

Ditto any potential soil contamination. The property won’t have a traditional yard (yes, city water and sewer available). Would I have to address contaminated soil? Related to that, if I eventually want to sell the property could unaddressed contamination issues impede me? Is the current owner responsible for the current contamination? 

Hi all,

I am close to putting in an offer on a 1940’s cinderblock warehouse that I plan to convert to a living space for myself. It’s actually two side-by-side buildings with a common wall. One side is dilapidated and I will need to have it razed. The remaining portion is in good shape, all things considered. No plumbing nor heating/air currently. I’m told it housed a taxi business “back in the day.” It sits on 3 garage bays (2 of which I will make my art studio). 
I'm unclear if, since I have no plans to develop the property beyond a residence for myself, I should worry about/look into brownfield issues, old storage tanks, etc. What other things should I consider that I may not otherwise think of having previously purchased only SFH?

TIA.

I was having this problem as well. I was able to get support to respond to an email however it took a couple days to get the issue itself resolved. 

They’ve explained that this website is still “under construction,” which I did not realize.

I hope you’ve received the assistance you needed now?

My current challenge is finding *this* “exclusive pro” section.
Currently I’m following a link that a support person offered (when I was trying to find info on the mastermind that was supposedly offered as part of my pro package), but I can’t find how to get “here” on my own, via my phone (on which I do most of my access).
I haven’t downloaded the BP App because it has a couple years of poor reviews (from people who otherwise love BP).

I’m also unclear: I posted a specific question twice (under 2 different forum headings) on the general website and got no response. I’m still searching out that info to try to get my thinking oriented. Is that something I can post here in the “exclusive pro” section? Perhaps there’s a greater likelihood of getting a response? 

Thanks, all! 

It’s brave to ask for input! Good luck! Let us know how it goes! 

Christine Kane’s book “The Soul Sourced Entrepreneur” gave me more than a few quotes to tape to my fridge as reminders. Two that are pertinent here:  “If I had a nickel for every sure decision I’ve made since I became an entrepreneur, I’d have zero nickels,” and “Do it afraid.” 

From a safety standpoint, certain amounts of mold (if I recall correctly: anything over 10 linear feet) require certified remediation (with negative air scrubbers, etc) to avoid cross contaminating the entire property and, frankly, to protect nearby people. In my experience, severe mold problems not properly remediated can lead to lawsuits. At the very least it can make people very ill. At the levels you seem to be talking about, my concern would be having an untrained handyman do the work (versus a certified remediator) leaving you open to legal action. 
Get an independent (someone who doesn’t have the conflict of interest of also offering remediation services) certified mold inspector’s opinion and you’ll have more pertinent data with which to decide. 

On one of the BP podcasts I think I recall hearing of a landlord who got PPP funding to replace the income of several of his renters who’ve not been able to pay during Covid?