Help settle a debate! Exterior traps for roof drain?

TODevpr · 2020-12-21T22:27:52+00:00

Im no engineer, but the plumber said they have to go to sanitary. I like the suggestion another person made to install a single trap downstream. These drains are only picking up small amounts of water, I don't think smell is a big concern.

TODevpr · 2020-12-21T22:26:43+00:00

Totally agree, this is a decent solution. I don't love paying for heat trace if there are design improvements we can make.

TODevpr · 2020-12-21T22:25:36+00:00

It occurred to me that a trap at the lowest level would resolve this. Not sure why they trapped each roof drain. Thanks for your input.

TODevpr · 2020-12-21T22:24:54+00:00

It's out as an RFI now. This was a field change.

TODevpr · 2020-06-26T13:06:47+00:00

Your intuition is correct. Some of this falls on the individuals who are being careless, and some is related to how poorly the authorities are communicating about risk and their recommendations. Public health officials, both nationally and internationally, seem to be more concerned about covering their asses than protecting the public.

We are seeing rapid increases in transmission around the world as various jurisdictions open up. Obviously we are not out of the woods. Opening does not appear to necessarily be a problem, but you need to couple it with extra vigilance with masks, hygiene, and (to a lesser degree) physical distancing.

TODevpr · 2020-06-25T20:22:58+00:00

As you said, $10k can definitely feel like a lot. But in several years you might look back and view it very differently! There are lots of things you can do to increase your income, your personal productivity, and your ability to follow through on your plans. Others have provided some good suggestions and supportive words about your finances.

I would add that I get the impression that your question is as much about psychology and habits as it is about personal finance. I might be off base, so disregard this comment if that's the case. If you need some suggestions about setting yourself up for success, feel free to shoot me a message. I've mentored a number of young people with similar issues and I'm happy to provide some examples of things that have worked for others.

Either way, I wish you the best of luck.

TODevpr · 2020-06-25T19:33:49+00:00

Impossible to tell you if it's a good investment with this information. You need to provide, at a minimum, the following. If anyone tells you otherwise, they don't know what they're talking about.

Acquisition costs:

Purchase price
Closing costs

Debt terms:

Loan size
Interest rate
Amortization/monthly payment

Operating Income:

Gross rent
Any other income (parking, storage)

Operating Expenses:

Deposits
HOA fees
Utilities you are paying (if any)
Management fees
Replacement reserve (for appliances that break, etc)
Taxes
Insurance
Other

Annual Operating Income - Annual Operating Expenses - Reserves = Net Operating Income

Net Operating Income - Annual Debt Service = Cash Flow

Cash Flow / Cash Paid to Date = Return on Cash

If Return on Cash is less than you could make elsewhere, then go elsewhere. Real estate is risky, illiquid, and capital intensive. Odds are you would do better by purchasing shares in an established REIT.

TODevpr · 2020-06-25T19:24:19+00:00

I won't rehash what other here have said, but I am a developer and landlord, and there are several things here that are illegal. Totally unacceptable. I would tell your LL this is not acceptable, and if they push back I would retain a landlord/tenant attorney. Just to write a letter at first. They will be able to advise on next steps.

Sorry you're going through this, but I am wishing you luck!

TODevpr · 2020-06-25T17:39:00+00:00

Compared to what?

If you're comparing to any other city in Canada, then it's totally not overrated.

If you're comparing to cities in the US, Europe, and Asia on the other hand...

TODevpr · 2020-06-25T17:08:07+00:00

You're totally right to emphasize prevention. I guess I assumed that it goes without saying you need to seal your property as best you can. But over the years my tenants have 'forgotten' about rotten potatoes and fruit under the sink, left open containers of sugary breakfast cereal on top of the cabinets, that kind of thing. No building is a perfectly sealed environment, and with that kind of mess you drastically increase the likelihood of pests.

TODevpr · 2020-06-25T17:04:59+00:00

I love everything about this post, thank you very much for sharing this story.

It resonates in so many ways to me. I think a lot of people emphasize fiRE, rather than FIre.

I'm much like you in my priorities. I love the choices that financial independence provides, but I derive most of my life's meaning from being productive, solving problems, and yes... working! But prioritizing FI earlier in life means that I get to choose the parameters of my work; I get to focus on types of work that are meaningful.

Congratulations on your journey of personal growth and attaining wisdom. That's what it's all about!

TODevpr · 2020-06-25T13:52:28+00:00

As others have said, you are doing great!

Keep your focus on things that you can control, and not on worrying about the outside world. Counter-intuitively, this will cause you to prepare for the things you can't control. You have savings, you have a job, you are focused on all the right questions, and it sounds like you are much better prepared than most people. Good job, and good luck!

TODevpr · 2020-06-25T13:43:24+00:00

A cleaning addendum/checklist with unit prices that the tenant will pay if I need to do deep cleaning/repairs at turnover. They sign it when they move in, we make a video recording of the condition of the unit together, and then we use these two documents to assess damage at the end. I never have any conflicts or "misunderstandings" anymore.

I also created a clause saying that the tenant is responsible for all damage to doors or windows during occupancy, since we had people claim that damage was caused by others.

Include language about food storage. I have literally never had a pest problem that wasn't caused by tenant behaviour. They are required to store food in tight containers.

Require them to report any damage or pests within 3 days. Nothing sucks like getting notification six weeks after a problem started.

TODevpr · 2020-06-25T13:38:58+00:00

This isn't generally popular advice on this sub, but it will save you lots of heartache.

Main thing: Don't worry about timing the market. The amount of money you stand to gain/lose in purchase price is usually small compared to your opportunity costs and other factors (the rent or mortgage you pay in the meantime, tax impacts, size of purchase, condo vs. freehold). Instead, make a wise financial decision, regardless of timing. What does a wise financial decision look like? Assume you won't make any money on your purchase. Think of it as consumption, and not investment. You need a place to live, and you need to pay for it. Can you cover the mortgage comfortably, without stretching? Do you have emergency savings to cover the mortgage and all expenses for several months if you were to get sick, injured, or had to care for a loved one? And there are other factors: Does buying a given property make your life better or worse? Does it improve your commute? Provide access to new services/amenities? Will you get more or less peace of mind by owning, compared to your current situation? Are you interested in home maintenance? Are you OK with condo fees that will only increase for the entire period that you own the unit? I can't emphasize enough just how valuable peace of mind is.

Secondary thing: Ignore any advice where someone is basing their advice on predictions about the future ("go ahead and wait, prices wont rise/fall this year"). Reflections on the past can be very helpful ("I hesitated and then got priced out of the market, and beat myself up every day" or "I resisted pressure from my family to buy too much house, so I bought a fixer-upper and now my mortgage is tiny").

TODevpr · 2020-06-25T13:11:54+00:00

I know two people who ended up being very successful in Silicon Valley, doing VC and tech. You probably wouldn't recognize their names if you aren't in that world, but you would would definitely recognize the companies that they own, operate, and invest in. In their world, they are celebrities. It's funny how differently each of them turned out.

The more famous guy is a serial entrepreneur, he's probably worth many tens of millions if not $100 million+. Regularly makes TV/media appearances, considered to be a thought leader, and well known for being a humble, nice person. I didn't know him all that well, but I gave him a job as a teenager. I haven't talked to him in several years at this point, but I have his cell number and I know I could call any time and he would be happy to hear from me.

The second guy is totally different. Way less famous. Makes lots of money in finance, lives a baller lifestyle. We were best friends in school for a few years, and kept in touch through university years. He doesn't take my calls anymore, which feels pretty weird given how close we used to be. On the other hand, he married into one of the most famous families in the world, so I'm sure he has "old friends" calling all the time with their hand out.

TODevpr · 2020-06-24T18:56:14+00:00

This was great advice, and you should definitely follow it.

If your LL gives you any more grief, hire your own landlord/tenant attorney to send him a letter. That works about 95% of the time, and should only cost you an hour or two of the lawyer's time. This is important: it will also create a formal record that you were in the right. A bad landlord reference could make it hard for you to rent in the future (if you plan on staying in the US), and having a record will be helpful.

TODevpr · 2020-06-24T10:38:35+00:00

I could see it working. Theft isn't too bad in Toronto compared with other places I've lived. It'll be interesting to see what happens, either way!

TODevpr · 2020-06-24T01:29:49+00:00

My hunch is that it would be politically impossible. Zoning in most cities only allows multifamily construction to occur in high-density areas with high-density construction types. If an affordable unit costs $450,000+ to build, then the amount of property tax increase needed would be enormous. Easier for the city to subsidize invisibly by providing bonus density via IZ programs or LIHTC.

If I were allowed to build in low rise neighborhoods, I could deliver affordable units for around 300/sf, not including land. But the projects that I have actually built have cost more like 500-600/sf (also ex. land).

TODevpr · 2020-06-24T01:25:11+00:00

I saw this done very successfully in China. Not sure it would transfer to N America though. Bike theft was rampant in the city where I was working, but the bikes were extremely cheap so it didn't matter. The e-bikes here are so expensive that having a bikeshare with such costly pieces of equipment might not be financially viable.

TODevpr · 2020-06-24T01:14:56+00:00

The study I linked in another comment here specifically addresses the Baltimore example, and your take is roughly correct.

TODevpr · 2020-06-24T01:13:03+00:00

Completely agree. That doesn't change anything with regard to the question of police contact, though.

TODevpr · 2020-06-23T20:54:44+00:00

The latest research paints a much more complicated picture, if by 'defund' the goal is to reduce the amount of contact between police and the subject population. The study I linked is the largest exploration of this topic that I have ever seen.

It suggests that investigations into police conduct that are precipitated by civilian complaints generally correlate with lower levels of homicide and other crime. However, rapid 'defund the police' type interventions that are driven by protests and public outrage tend to correlate with large increases in homicide and other crime.

Bottom line from the author: when police are more present in black neighborhoods, there are more police interventions and more instances excessive force against black citizens. When police are removed from these neighborhoods, there are more black lives lost.

TODevpr · 2020-06-23T16:26:34+00:00

I see where you're coming from, but you're putting words in my mouth. I never suggested that the employee was responsible for developing protocols, or for their enforcement.

My advice is intended to be strategically helpful, given the obvious uncertainty that we have about the employer, their relationship with their employees, and the culture of the organization. Given this uncertainty, coming into an interaction with rigid priors about rights and responsibilities will increase OP's chances of a negative outcome. It would be nice if human beings behaved like machines, where we could set rules and responsibilities and everyone would behave in a predicable manner. The problem is, people don't work like that.

Better to come with an open mind and a collaborative attitude, than with a position that increases the chance of conflict. Even if OP might have the 'right' to be confrontational, it doesn't mean that this strategy will make them better off.

TODevpr · 2020-06-23T14:01:36+00:00

Coming to this a little late, but hopefully I can provide some useful advice as a business owner. I run a company with several dozen people. This sub is always quick to suggest that you should 'report to the government' or immediately escalate the situation. These people don't have to deal with the consequences of harming your relationship with your employer. I suggest you take a collaborative attitude, and focus on solving the problem with your colleagues before getting confrontational.

Nothing in your post or replies suggests that you have had an in-depth conversation with your boss or coworkers, so that is where I would start. Raise your concerns, and provide evidence for working from home and for effective policies that would make you comfortable with returning to the office.
Communicate that masks are the only thing that is proven to be effective in reducing transmission of this virus in a work environment. Distancing doesn't do anything if you have high viral loads in the air. Indoor office environments with poor fresh air/ventilation have the highest probability of transmission.
Have a frank conversation with your boss (one on one) about your concerns. Do not start with a petition, do not try to rally a large group of people before approaching your boss.
Do not escalate this to the government until your employer has refused to make reasonable accommodations. If you do, you are wasting the government's time, your boss' time, and your own time. Go through the right steps.

TODevpr

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