All Forum Posts by: Spencer Speckles

 You’re right. “No” would be the worst that could happen.

Good advise. I was already planning to spend time preparing and filing the the documents, though. I think it would be prudent for me to use language referenced by the zoning guidelines to bolster my case. I just cannot recall the language used.

Disclosure: I mainly have commercial office/retail so I don’t know what I’m talking about.

1920s house probably heats via radiators and doesn’t have AC. It’s a lot of work but install ducts and heat pumps. Split the utilities. Install laundry hookups but not machines. Knock out the wall between the kitchen and dining room and, if it’s cheap, knock out the wall between the dining room and front room. Put in apartment grade stainless appliances and nice looking apartment grade cabinets. Figure out how to put a bathroom on the first floor. Put a decent amount of effort into the street appeal. 

If you’re going to hold the property, consider updating electric and installing vinyl floors and not carpet. If the roof only has a couple years left, replace it now and don’t wait till it leaks. Hire someone to run a camera down the sewer line to the main line in the street (I only have commercial properties and 2 years ago I bought a new $125K sewer line. You should see it—it’s gorgeous. Too bad they had to bury it!)

I have a day job and started real estate to help with retirement income. I have retirement accounts and other market investments, but don’t want to depend on them. RE seemed like the only viable option. 

I haven’t read many books. The ones I did read seem to focus on inspiration and not useful content. So, I guess I did the hard-knocks kind of thing. I learned right away that residential is a total hassle, so I focus on commercial properties—by distressed, fix them up and hold them with little debt. I appreciate that this is a bad investment strategy, but I am after cash flow and not equity. This leads to generational wealth—nah :)

I have a property in the central business district (C-1). I’ve been trying to lease the building for several years and have not been successful. Here’s my problem: the available space is at street level and the permitted uses are limited to restaurant or retail, but the size of the space is larger than what a restaurant/retail space would need in this community. I am negotiating with a group who wants to lease the building as a medical clinic, which not permitted at street level but is permitted on an upper level.

I need to file for an Exception. I remember, several years ago, reading in the code book that one reason an exception may be granted is if zoning restrictions result in an excessive hardship on one’s ability to use the building. 

There is a specific legal term to describe these circumstances, but I don’t recall what it is. Can someone provide me with the word/phrase that I can use in the hearing?

This article is relevant to all companies who do market analysis to determine rental rates, but focuses on Yardi Systems and RealPage:

https://www.wsj.com/real-estate/commercial/thanks-to-big-dat...

@Chris Seveney good info. Thanks Chris

I have a building with a bank safe that was new in 2012. It’s the real deal—walk-in, huge thick complicated door, major support structure beneath it in the basement… Is that something I can sell? What can I do with it?

@Nathan Gesner

Great answer, Nathan. Thanks for your help.

My PM told me there is no way to post rent rolls in the owner portal of PropertyWare. Rent rolls is a basic document so I find it hard to believe this. Would someone help me figure this out? Thanks!