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Updated over 9 years ago, 04/19/2015

User Stats

86
Posts
7
Votes
Mason V.
  • Investor
7
Votes |
86
Posts

I need to persuade the city council, any advice?

Mason V.
  • Investor
Posted

Yesterday I went and looked at a 1bd/1ba duplex, formally a triplex. Both units appear in excellent condition with my only complaint being the 10ft ceilings. More than likely my initial bid will be 125k with 128k being my upper bid for FHA. Above 128k FHA does not cash flow and I would need to get a partner.

In either case through, whether this duplex is a great or mediocre deal depends on the third unit. The third unit had been in use at one time. However, after the tenet moved out the city rezoned the property as a duplex. Sense the unit was unoccupied, they were taking their time remodeling it, there was no way for the third unit to be grandfathered in.

According the realtor I have three options. First is to leave the duplex as is. Second is to try to persuade the city planning department to rezone the property back to a triplex. Third is to petition the city council to supersede the zoning and allow me to return it to a triplex. I am thinking the city council is the best bet. What would be the best way to approach them?

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