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All Forum Posts by: Mitch H.

Mitch H. has started 23 posts and replied 124 times.

Post: Interior Dryer Venting, Tenant Complaining About Fumes

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23

Thanks for the advice on proper venting.  I'm aware its not a long term solution to provide the vent boxes.  However, I live in a desert with very low humidity.  Therefore, in the short term, I am not concerned about the little bit of extra humidity.

Just trying to get to the source of this phantom "smell".

Post: Interior Dryer Venting, Tenant Complaining About Fumes

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23

The dryer was bought used from a reputable dealer less than a month ago, and the small amount of venting to the lint trap was new at that time as well.

Post: Interior Dryer Venting, Tenant Complaining About Fumes

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23

I have two rental units in which the electric dryer does not vent to the exterior.  I provide lint traps for tenants use.  I know this is not ideal, but have decided for now, I am OK with the solution.

One unit is complaining about the smell of exhaust.  If it were gas power, I would be more concerned about proper venting/carbon monoxide etc.  In this case, Im really not sure what the tenant is smelling.

Any HVAC DIY'ers know what the issue might be?

Post: Inspector

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23

Digging up this thread, but @Anson Young and @Micki M., do your recommendations still stand?

Post: SFR with possible separate basement unit...?

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23

About what I expected.  Top floor is livable as-is but the kitchen, bath and wood floors need major overhauls.  

The basement, unfortunately, was not livable in its current condition.  The only good part was the fresh coat of white paint to make the 4"x4" windows make the room seem brighter.  Who knows what the walls looked like without the paint.  The kitchen probably wasn't functional and maybe hadn't been in 30-40 years. Utilities were off in the whole house.  The "bathroom" actually had a new toilet but the shower was literally a concrete enclosure painted grey.  No surround, tile work, nothing. Also, the basement floors sloped a lot. I could live in a basement for a year if it meant payoff in the end.  Unfortunately I wouldn't live in this basement as-is, and didn't really see a good option for maximizing Cash Flow as a Buy and Hold.

Additionally, someone else looking at the same time had their agent call and put in a cash offer.  Sheesh.  Its definitely decent as a 2/1 with tons of flex space in the basement, but anyone who wants it as a true 3/2 has some work to do.  

Moving on.

Post: SFR with possible separate basement unit...?

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23

Plan A is Buy and Hold.  Yes, it would "sell" better as a 2/1 with some flex space in the basement.  I would say it is currently priced as low end 3/2, though. 

Rentability as a 3/2 is good, especially in its location, though on the lower end of urban rentals.  Going to check it out tonight.  I anticipate it wont show very well...especially the basement.  

Main variable would be if I wanted to do any moderate work on it (which it will need either immediately or at some point to maximize its potential), either as an exit strategy or for longer term rent benefit. Then we would get into the building code/conforming/accessory dwelling can of worms.

Post: SFR with possible separate basement unit...?

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23
Originally posted by @Bill S.:

@Mitch H. and @Dan Mackin be careful about calling Denver. I called on a property someone offered me. They are now paying an attorney $5K to get the property grandfathered in as a 4 unit despite it being taxed as a 4 unit. The property records only had it listed as a 3 unit. 

So many things to look for in these situations. 

This is my flow chart if you will.

1) What do the property records show? 1 or 2 units? If only 1 unit then raise red flag but not a white flag (yet).

1.  Single family detached.

U-SU-B1.  Urban - Single Unit - 4500sf lot.  The basement kitchen looks to me like its 1950's.  Metal cabinets.

Up/Down is not ideal, but something I would be willing to accept.  

So what if I buy it as a SFR and happen to live in the basement while my 'roommates' live upstairs?! Guess I should stop putting this in writing ;).

Post: SFR with possible separate basement unit...?

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23

It does have a stove, though it looks like it needs to be trashed.  Maybe trash it out before the appraiser gets there!

Post: SFR with possible separate basement unit...?

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23
Originally posted by @Travis Sperr:

Financing can get you on something like this, with two kitchens it can be considered nonconforming for FHA, Fannie/Freddie. Years ago an investor I know doing something very similar had to take out the basement kitchen for financing - only to add it back later.

 Good to know.  On this particular property I would be doing conventional financing.  Might I still run into issues?  Taking the kitchen out to add it back in sounds expensive and time consuming, not to mention still against the loan terms??

Post: SFR with possible separate basement unit...?

Mitch H.Posted
  • Investor
  • Denver, CO
  • Posts 128
  • Votes 23

Another issue would be "conforming" the downstairs bed.  It doesn't appear to have a "egress"able window, though there is a closet, even if I wouldn't consider that the "bedroom".

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