All Forum Posts by: Nancy Names

So, I'm seeking advice on the 2 ideas I have for paying off my mortgage. Since I'm disabled and don't have the best credit, the only realistic option is to find an investor or buyer interested in working out a deal of some sort. 

any opinions, critics, or advice of any kind is welcomed and appreciated!! 

Option 1.  

My property has 2 large driveways. The rear driveway fits 6 vehicles + a few feet inbetween each car. Seems like it could easily be turned into a fairly decent sized home or ADU?

based upon records from the assessor & zoning people, the property was approved to be split into 4 parcels, but it never happened. 

option 2. 

convert my 3 story home into a duplex or triplex and sell 1/2 of it? Or sell the basement apartment? Idk...

heres the layout of the house..... 

the basement is accessed from the back porch and/or the main floor kitchen. There is a storage/workshop area, 2 bedrooms, a kitchen, living room, and plumbing for a toilet.

the main floor is huge, has the laundry room, 1 bathroom, 1 large bedroom w/ private entrance and a 12ft x 15ft. "Covered porch" that has been used as a bedroom for many years because it has hardwood flooring, insulated walls, and its roofed with shingles..... 

the 2nd floor is equally as large. At the top of the stairs, there is a window the size of a door. Could be a private entry If a deck and staircase were built outside of it. The main bathroom is in the middle of the 3 bedroom doors. each room is larger than 15x15 and there's windows in the closets. The smallest room has a closet w/ a full bathroom in it... The largest room is 20x24 with a 15x12 closet.

Find out which bar the local lawyers hang out at. 

go to it. Befriend them. All of them. You're gonna need them.

Sadly we live in a world where homeowners have no rights. 

pretty much anyone can show up on your doorstep and when you call police, they'll say they live there and the police will tell you they can't trespass them.

So, since there's no homeowner protections, Even the best tenants become nightmares when they don't want to pay rent anymore

Make sure you get everything in writing and notarized, signed by a lawyer, or atleast 2 solid witnesses. And I mean everything. 

with a huge focus on variations of ways the contract is nullified and lease terminated. 

termination for waste, nuisance, or criminal activity is your only hope for eviction of nightmare tenants.

good luck.