All Forum Posts by: Makan A Tabrizi

I'm renovating a studio apartment with limited space. Any input on the appliances noted above would be appreciated. I didn't list ventless dryers as I haven't read very many good things about them. I used to have one many years ago and it never got very hot.

 Thank you. He decided to stay till the end of his, when I gave him his options. His lease is going to be up at the end of Oct. I'll cut him loose then. 

Hello. I'm hailing from a suburb of Denver Colorado. I currently own and reside in a pretty large duplex (appx 5500 sq/ft). I'm renting them as non-traditional units (6 of them). I'm researching the possibility of purchasing another duplex or a triplex within the next few months.

My question is: Is there such a thing as an owner-occupied, non-QM loan for a multiunit investment property?

I want to limit the down payment outlay so I'm willing to move into the new property (trying to conserve as much cash as possible for possible renovations). I would like a non-QM loan and can provide bank statements from my current property showing steady income. I will also seek existing leases from any property I decide to buy. 

Any suggestions on appropriate mortgage brokers in Colorado would be appreciated.

Thank you in advance for your input.

 Thank you. I will. So far he has been keeping to himself, which is just fine by me.

 Thank you! This is exactly what I was looking for. I appreciate it.

I'm trying to update my lease for a 5 unit in Colorado. I'm currently allowing tenants to use their own lawnchairs in common areas. I've never had any issues with this but a thought occurred today. What if another tenant is using the same lawnchairs and has an accident? Technically they are placing the items in common areas with my approval. I'm guessing I'm accepting liability because I allowed this to happen? How can I address this in the lease to reduce my liability? 

This could apply to anything left in the common areas by one tenant that might potentially injure another tenant. I could make a blanket clause that says nothing, including bicycles, is to be stored in common areas but I want to make the place more welcoming and personal.

Thanks in advance for your input.   

 I did exactly that and he just responded that he will finish his current lease, which is Oct 31. I'll be happy when he is gone but at least he won't have Tenant A to complain about as of July 1. Maybe that'll settle him some.

 Thank you. I suspect he is making excuses because he wants out of the lease. If he just waits less than two weeks the tenant he is having a conflict with is going to be gone (Tenant A has never been anything but amiable with me). In any case, I'm going to give him his options today. The sooner he leaves the better. 

 Thank you. I'm going to propose that to him writing today.

I have two tenants that don’t seem to get along. They live in a building with two apartments, one up and one down. They share a patio downstairs. Tenant A, the downstairs tenant, has already given his notice and is leaving in two weeks. Tenant B, the upstairs tenant, complained a couple of weeks ago that tenant A was smoking cannabis on the patio (it is explicitly against the rules of the house and is in the lease). I told tenant B that I ask tenant A to stop. So, I told tenant A to stop. I informed Tenant B that I had and that he should let me know if it happens again. I also informed him that tenant A was leaving at the end of June anyway. 

Today I received a text from tenant B that stated tenant B was again smoking cannabis on the patio. I told him I would go over and ask Tenant A to stop. Tenant B replied that he was tired of “this” and that he wanted his lease terminated because he feared for his safety. This was a new one for me so I replied: “Property rules are one thing, but If you truly fear for your safety, I would recommend calling the police department. They need to know about disturbances of peace or whatever they have done to make you fear your safety. They have enforcement powers that I just don't have. I'd be happy to talk to cops if you need me to.” He declined to do so. He simply wants out.

I think the best approach is to let tenant B leave, even though tenant A and the conflict is going away on June 30. His lease isn’t over till the end of Oct and clearly states that “If tenant vacates the premises before the date agreed upon in the lease, the tenant will forfeit deposit and will be responsible for rent until the end of the lease.” That would several thousand dollars. Rather than try to force that on him, I would like to know what a reasonable remedy would be for breaking the lease.

Thank you in advance.