All Forum Posts by: Holly Buell

We are looking to set up all our assets into a Trust account including our current house hacking duplex. We are struggling to get lending because of our debt to income. Our lender suggested purchasing though a Trust. What are the lending pro's and con's of purchasing from a Trust. Also what are some of the risk and liabilities of having your properties in a trust? 

Thanks in advance for any advise! 

I have a 2 bed rental in the resort area of the mountains. Tenant A has been living in the unit for several years and I went to college with her. Tenant B just up and left without notice, she has paid though the end of the month but all her stuff is gone. I'll reach out to Tenant B to make sure she has left but what are the other steps for eviction if only one tenant has left without notice? 

I charge under market rent for the unit and Tenant A knows this and wants to stay but is difficult to live with and she cannot afford to live by herself. I feel like every 6 months or so she gets a new roommate and there is always drama. Can I put her on the lease as being solely responsible and she can deal with her own roommate issues? Could tenant A create a document type lease for her roommate? What are the pros and cons and liability here?  

Jason - I think if you do any renovation that would require a permit then you would have to upgrade it to todays code. I'm not 100% on this and also have fire code questions. 

I'm looking into doing a house hack where the egress window sills are 4" too high to meet todays code, can a step be built or would the foundation need to be cut into and lowered 4 inches and the windows replaced. Also in a house hack do you need to have a 2 hour fire separation between the units? 

Is there a difference between fire codes for a "duplex" where the lot would be separated into two lots. Or an ADU or Mother in Law suite.

I have found a great deal that I want to purchase and need advise or examples of what people have used to approach the bank. It's a eight unit apartment pocket listing, the owner does not live locally and wants to be done with it. 

What kind of documentation do I approach the bank with? Do I need to make up a pro forma spread sheets, anyone have examples of these? What are my loan options? 

When I submit an offer I want submit a bank loan option and seller financing option. Thanks in advance!