All Forum Posts by: Jerry Murphy

@Gary F. I added electrical and plumbing. We asked around and a few of the neighbors showed us what they did to convert the indoor garage into a separate apartment or extra bedroom.  Of the six neighbors that share our building three had already converted the garages without permission.  We were the fourth to do so. We've owned the place for about 17 years and the condo association has an unofficial 'don't ask, don't tell' policy for remodeling. They say no if you ask and do not care if you just do it without asking. Mainly the condo association is preoccupied with listening to old retired ladies complain about noise at the swimming pool, people who walk their dogs, children who are not on a leash and suspicious cars that park in places the old folks don't like. 

Hey, It is good to see another Culver City guy here. 

@Anna Buffkin omg, condos go for $30K and rent for $750.  In my LA neighborhood they go for half a million and rent for $2800. 

@Leah It is a federal crime to put things in peoples mailboxes.  You can put it in their door, on their car or anywhere else. But the postal service is all territorial about that stupid box.

I own two condos. The main thing is the HOA. If your HOA is investor friendly then it is great. THey do the yard work and keep the outside looking good. However most HOAs are really bad. To be on the HOA board, especially in the leadership position, you have to be willing to do the accounting, oversee the maintenance staff, deal with taxes and police and fire inspectors, listen to homeowners' endless complaints and a hundred other things. And you probably do not get paid. So who would do that? Usually it is the people who have committed their lives to being total busybodies and who's only joy in life is telling their neighbors what they can and can't do with their own property. For the privilege of being a tyrant of the HOA they will endure any burden that the job entails. It is a terrible job but the thrill they get from saying NO when you want to put in a new doorknob gives their lives meaning.

So ask around. Find out which condo HOAs are investor friendly and stick with them.  

Thanks @Joel Bongco I will keep you in mind if I decide to come clean with the building permit folks. My wife and I are talking more and more about selling it and I would prefer to sell with legit upgrades. 

@Gary F. I have not done anything with it.  I basically heard enough stories of the city and county screwing people over when they try to do after the fact permits so I just left it. I have tenants in there who have been there for 8 years and pay on time.

At some point I am going to have to either sell this place or fix it up and get more rental income from it. But for now I do not want to attract unwanted attention from the city. Also, it is a condo and the condo association might be really difficult if they officially found out that I fixed the place up.  Plenty of neighbors have done so without permission but the condo association might just decide to say no this time. They can be whimsical. 

How did it go?

Buy a couple of shore house fixer uppers at the end of the summer. Spend the winter making them look inviting to New Yorkers and Philadelphians for their summer vacations. Do short term rentals all summer. I never knew anyone who had trouble getting a Jersey shore house rented during the summer months.  

Thanks for sharing this. I am really impressed with the improvements to the house for only $55k. Great work.