All Forum Posts by: Vijay Jain

 Thanks @courtney I will call them up today and will give your reference.

Dear Fellow member

Commercial fire sprinkler and alarm system

I recently purchased a property in OK which can house 30 efficiency apartments , 10,000 sq feet . This building had a fire sprinkler system which was not working.

I hired a company and they gave initial order for 36K and after 4 weeks they reached us out and now saying that the they need to install new alarm system and that will cost another 65k (so total 100K)

My hunch is that they are taking advantage of my situation and initially after all inspection they said it will take 4 weeks to complete and 36k.

Does it cost 65K to install Just alarms?

Do someone good alarm/sprinkler company in and around OK/TX

Hi Fellow members need some help with my situation.

I bought 2 parcels of 1.4 acre each next two each other (let's call them A and B) under my LLC in California.

On Lot A 2 years back I partnered with a real estate agent and transferred him Lot A (for free so he can get a loan under his name ) and put my llc lean (it is recorded) so he can get a private loan to build home on parcel. Now he has built the home and is unable to sell for the last one year (my name is not the private Loan he got) . Now I am worried about how I can get money for my land. I have email trails for all communication though.

For Lot B also I have a question. I was trying to sell it separately and the buyer backed out for some reason a day before closing , can I keep earnest money?

Thanks Jeff for confirmation, my last two  also took 3+ months.

Thanks all and special thank to @Nathan Gesner for such and detailed explanation, hope this will help others here too.

Nathan I have property manager but may be not the good one , I already hired @Kyle Kinsley and so far he is wonderful and on top of it.

Kudos to biggerpocket for such amazing community.

I have 10+ SFR in Merced (central Valley California) , been in two eviction and one might be coming :( in my experience it takes up to 4 month from the time eviction starts to tenant moves out.

1. Am I doing something wrong so this norm.
2. Any suggestion for property manager in central valley area.

TGIF and thanks/

If rentals are profitable or even break even , go for HELOC.

Hi Lending gurus,

I am working on some remodeling project where we need 50K and I want to lend that money where I am also 25% partner.

My questions: 

• I think I can prepare a promissory note and get it notarized and get sign for remaining partner, is that correct or there is better way.
• How to safeguard my interest/money in case things go south, I know them very well but still.
• what should I include in agreement so I can get paid principle and interest timely and get late fees/charges in case installment not paid on time.
• I think I need to issue 1099 INT for 6% interest I am going to charge.

I want to keep this simple without leaving myself exposed Any template or clause needs to be added.

Let me know.

thx/

Thanks all for wonderful community here, @Scott Meyers   thanks for your suggestion, I know you are authority when it comes to Self Storage. Thanks @Mitch Messer for offering help.

I am thinking of starting from scratch meaning getting land and maybe do construction, not sure it is too ambitious for newbie but I think I can do it if I can get some direction on what to do and more important what NOT TO DO.

I am thinking of venturing into  self storage in Central valley (Close to Merced)

Anyone interested in self storage business in central valley who has some experience or want to join hands in any capacity which is mutually beneficial.

You can reply here/PM me.

PS: I am newbie in self storage but I have good portfolio of Single family homes in Merced and its a great town with good growth prospect.

thx/

-Vijay