All Forum Posts by: Clint Shelley

Great job. Small wins everyday add up. You've taken the hardest step, which is action. Keep us updated, as your courage to change is very inspirational! Clint

Hi Jonathan, We would need to know more details, but you need check with local zoning board to see if you can convert into a multi family dwelling. This could cost a great deal, if it's even allowed. Give us what market rents are, cost to rehab, cost of your money, etc. need more info to analyze. Clint

I think you do better by getting more estimates. That terrible driveway will hold your invested capital hostage. Get some more quotes and go with who'll be the best value and will actually show up. Sell it and move on. Good luck. Clint

I agree with @Jay Hinrichs. Clean up the debris, mow the lawn. Take before and after photos for you"deal diary" and sell for what you can. Don't spend a dime on polish trying to put shine on a penny.

Clint 

soil testing will depend on site conditions and or type of construction. I would carry my plan to the local zoning official beforehand. You'll get a lot of free useful advice which should answer a few of these questions. You won't need a perc test if you're hooking into city sewer. Get title insurance, and definitely get a survey after all other things are a green light but before you close. A good survey could save you from some serious problems you don't know you have. Good luck.

Clint 

You will have to personally gurantee the loan, so really, it makes no difference. The banks that give you trouble with loaning to an LLC, usually plan to sell the note. I've had no trouble getting my loans in my LLC name. I only use small banks for what it's worth.

Clint

I'm in Dothan, Al.

Clint Shelley

Yes. This can and has gone in multiple directions. For every example you find that was ruled one way you can find the converse. This could be a prescriptive easement or definitely an easement by necessity for sure. That's what makes law and its practice so multi dimensional and best left to those who practice it. Prescription and taxes do not always go hand in hand. For example... Here in Alabama, we have lots of dirt roads that are graded and maintained by the counties. Their continuous maintenance for 20 years has acquired them a prescriptive easement on behalf of the public. The landowner still owns the roadbed and the ditches, etc. and still gets the tax bill too. This easement is unwritten and unrecorded but still valid. You will not find a true right of way deed until they elect to lay paving. Your mileage may and will vary based on Locale and situation. Fascinating for sure. I will try to find a case like this one in the thread that has been adjudicated to see what the court said. It may take me a few days, but I will post. Great stuff gang.

Clint 

This is a classic hold your deed hostage play. This will settle where the owners will probably buy the title back. If not the new owner who thought he bought a deal will be liable for all of this maintenance which will be thousands. The homeowners could sue for an ingress-egress-utility easement claiming continuous uninterrupted use. This would be called a prescriptive easement. Usually the new owner figures out what the other side will spend in attorneys fees and sell for a few dollars less. It's a legal circus🤑

Clint 

great job Matt. That's a killer spread.