All Forum Posts by: Shane H.

That's tough, yes I would definitely look to charge rent for a business. That being said, the difficulty is that they will feel "punished" for having told you. Maybe look and see what comparable locations might charge (ranches, farms, etc...). You could try and charge a % of profits, but how easy would it be for them to operate either under the table or at a "loss" to avoid that.

So if it were me, i'd look at doing a lesser amount to start and phrase it as a benefit to them to help them get their business off the ground with an excerpt to reevaluate after a year. Then my goal would be to increase that amount and try to sign them into a longer lease for the business side of things.

In my responses to inquiry's, I re-emphasize "No pets, felonies, or evictions" since nobody reads the ad. I received a response last week, "Did not know you were allowed to discriminate against a person with a felony. You'll be hearing from my attorney."

Still waiting... =)

As a side note, if you do obtain a HELOC to acquire a new invest property then run that payment against the new property's cash flow instead of the property you use for the HELOC collateral.

Wow, that's a hell of a deck... I almost went with a blue collar "deck size" joke but i'll refrain. I would look at getting a bid for a smaller deck or better yet, replacing with a concrete patio. You'll still know the future cost when it's time to repair it, but you'll reduce any future maintenance expenses after converting it to a smaller size or even elimnate them entirely if you can do a concrete patio instead.

@Shayne Fee I'm curious as well as to how this was resolved. =)

@Coran Clements only you know your situation, but assuming you have the funds +margin to remodel then that is what i would do. If this were the middle of peak season then i'd maybe consider selling without remodel, but in January you can find good contractors that have room for additional work and you won't be missing out on the buying season.

How long has this been going on? Did you inherit these tenants or place them yourself? ultimately it is not your job to police their behavior. I would send a generic letter to both units addressing and acknowledging noise issues. Let them know that noise is a part of an apartment/duplex living. I would be nice but firm in that you are not there to police their noise behaviors.

I'd recommend something along the lines of this key cabinet. We use them where i work and the key tags hold sharpie for years. Not to mention you will always have your keys organized to grab what you need.

https://www.amazon.com/MMF-Industries-110-Key-Single-Tag-201911003/dp/B0007KPY9K/ref=sr_1_13?ie=UTF8&qid=1545071899&sr=8-13&keywords=key+locker+with+tags

 Thanks for the update Paul! I was curious what ever happened with this situation. Before I read your post a month ago, i didn't even realize rabies shots were that expensive!

Kudos to you for offering to help with the costs despite the attorney saying you weren't responsible.

 And what payment is the calculator quoting you vs what are you actually paying?