All Forum Posts by: Maria Dinshaw

 Thanks Jamie,

I have 2 options at this point - take the easement through the neighbor's property and connect to the main on the other side of a creek (boring under the creek would be required) or put in a pump station and connect to a line inside a neighboring subdivision. The utilities engineer from the city told me that they will not approve a pump station unless the cost to connect to gravity sewer is 2.5 times the cost of the PS and he's the one who told me that I have to take the easement. Since they are dictating this location I'm hoping that they'll be cooperative in helping me obtain the easement if the landowner proves difficult.

 Thanks Chris, 

Yes it's looking like a 20' easement is unavoidable.  It's on the side of the other property out of the way of any buildings and access points so hopefully they'll be flexible.  

I'm developing a 30 acre tract of land into a residential subdivision.  To connect to the municipal sewer lines, I have to go through a neighboring property.  My question - if I run the sewer on the property line between 2 properties, do I still need an easement from the landowners?  Is there a way to avoid negotiating an easement with the neighbor?  If anyone has experience in this matter, would appreciate the help. 

Honestly didn’t think about it at the time. Im not going to be good at managing short term rentals - I know that for a fact. But let’s see how things go down the line. I’m always open to new ideas. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $465,000
Cash invested: $100,000

This property was purchased with the eventual plan to redevelop it into a luxury single family residence. It's a great location within minutes of North Hills shopping center. The lot is also nice and wide (though with a steep slope which will create a challenge for the redevelopment). We did a basic interior renovation to get it ready to rent and it's rented out currently until we're ready to start the project.

What made you interested in investing in this type of deal?

In one word - location. It's an excellent neighborhood which has already seen a lot of redevelopment activity. This house is one of the last ones left.

How did you find this deal and how did you negotiate it?

I came across the deal on the MLS and immediately called my agent. I was out of the country at the time but knew that a deal like this would not come up again. We made an offer without seeing the house - since the eventual plan was to redevelop it, the current condition of the property was of little significance. We were one of the first offers and the elderly couple who owned the home we so hassled by showings that they accepted our offer on the same day.

How did you add value to the deal?

We put in 25K to get the place to a livable standard so that it could be rented out but the real value add will come in the redevelopment.

Lessons learned? Challenges?

We had a hard time renting out the place. Even with a great location, we didn't put enough money into the property and should have done more work initially. That was a rookie mistake. Lesson learned.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Alina Karpenko was our agent. I wouldn't rely on her expertise to advise on a property's investment potential, but when it comes to closing the deal she really fights for her clients.