All Forum Posts by: Brad E.

@Pat L.

Thanks.  That is kind of what I was thinking.  There is always a price that makes sense.  Im just not sure how much work could be involved with getting it legal.

The county told me there was a pretty straight forward process that could be followed.  He said they dont even come out an inspect it.  Basically you have to file for it and then provide a site plan, and pay a fee. The fee is $500. Not sure what it will take to get a site plan.

However, in my eperience, there are few things that are as easy as they seem.

The other thing is I'm not sure what all can go wrong here. I think worst case is they wont let me rezone it and I'm stuck with an illegal building. Then I will have this same problem when I go to sell it.

Thanks for the feedback.  

Im in contract on a property that was listed as a triplex.  I have recently confirmed with the county that it is zoned as a duplex and is out of compliance as a triplex.

I think the zoning can be obtained with a $1500-2000.  I do not know what the implications are for insurance and or what other risks this poses.

I am considering going back at a much lower purchase price (as if it was a duplex) but my agent has already told me she doesnt think they will do that based on conversation with the seller agent.

In the end I think I can make the numbers work but it feels like I am assuming a lot of risk.

So right now I am considering a price that lands somewhere between what I am in contract for and what NOI from a duplex would value it as.

Just curious about the approach or lens others would use to handle this type of situation.  Thanks in advance.

Hey guys I'm in contract on a property that has a tenant with no lease.  There is supposedly a property manager but I dont know what kind of property manager operates with out a lease in place.  

Anyway, I am told he pays on time but his rent is about $150-200 below market.  I ran into this tenant during the property walk through and I could tell by his behavior he did not want to play nice.  

He said he has been there for over 20 years.  Not sure how much truth there is to that.

Here is my concern... given this tenants attitude and length of stay I'm a bit worried about being able to get him to sign a lease or leave.

I dont necessarily want to get rid of him if he is paying on time.  However, there is no way he stays without signing a lease.

Any tips on the best way to approach this?  Thanks in advance.

@Account Closed

I would pass.  2 felonies... clearly he didnt learn his lesson.

@Jennifer Rysdam

Maybe you have already tried this but you could try to find out the company they say they have it through and get the insurance company to verify it.  I've had to do this before on contractors saying they have coverage.

Hey guys I really appreciate all the feedback.  This has turned even more interesting over the last couple days....

This is a triplex that was converted at some point from a duplex.  2 units share everything utility-wise.  The other is independent.

On my first visit I took my termite guy and contractor.  Long story short, no one could find access the the crawl space, but there definitely is one.  Still trying to figure out what is going on there.  I have submitted extension to my due diligence while we figure this out.

I also happened to bump into one of the tenants when I was leaving and she menitoned having to share a mailbox with one of the other units.  Hm.  That seemed weird.

I ask my agent about why that might be she said probably no big deal, just add another mailbox.

Because I've had several instances of conflicting info from different parties (not just on this deal) I try to validate anything somebody tells me with at least one other party.

So I called USPS about adding a mailbox and they said no I have to contact the county.

I contact the county and after a few tries got routed to the code enforcement department.  Talked to the lady a litte and shared my concerns. 

She said she would do some research and get back to me tomorrow. 

Given all the above I am starting to wonder if the triplex is even permited properly.

I dont know what else I need to be looking out for here so if you guys have any thoughts on that I'd love to hear them.  Thanks again.

Hey BP I just got in contract on a triplex here in GA. Seller had it listed for 200k and I was able to get the contract signed for 183k.

Before we started negotiating there was no as is language in the purchase agreement. After a few rounds of counters they took my last offer but wanted to add in the sold “as is” stipulation and also said in a message from the seller agent that they wouldn’t make repairs at this price because of xyz reasons.

The house has been in contract twice already since December and it has fallen through for reasons that I’m not completely sure of. I have not physically visited the property yet.

So ... my question is can I still negotiate for seller credit if I find issues during inspection?

My agent acted like the only option at that point would be to walk away from the deal.

I’m not trying to beat the seller up on minor stuff but if I find expensive repairs needed I’m going to want some concession.

Thanks for the feedback.

Hi all 

I'm evaluating at a multi family with 10 units, 2 of which are occupied by tenants that are not paying rent.  The seller says they are in the process of evicting the tenants, but I do not know how far along in the process they are.

I like a lot of the other aspects of the deal but I'm not sure how to approach pending eviction issue.  To be honest, it's a little bit scary.  On the other hand, I feel like I could use it to my advantage to get a better deal by helping the seller solve his problem. 

Any advice on how to think about or handle this issue?

@Landon Rasmussen I woundnt give them my personal cell. If you do google voice there is really no need. There’s an app for it so it not much different than your normal cell except you have way more control. If you want to give out your personal I would at least try google voice only at first and then if you feel it is not meeting your needs you can give your personal. I keep everything business separate from personal. You do it with your bank accounts (I hope) so why treat your phone any different.

@Caleb Heimsoth

Ok, I will look in to that.  Thanks.