All Forum Posts by: Michael M.

Thank you all for the reply. I realize that the definition of a legal bedroom as well as what constitutes an egress will differ depending on location. @Jon Holdman. I appreciate the local insight. This is exactly what I was looking for in this post and why I specified the city and county in my original post. 

I have a call into the building inspector. Well see what they say. 

The fact is this house was recently listed on the MLS as a 4 bedroom. I talked with the current tenants and they mentioned it also was advertised as a 4 bedroom (although there is only a couple living there in one bedroom).

Any local Aurora or Denver area agents have any additional insights?

I'm looking at a SFR in NW Aurora, Colorado in Adams County, just a few blocks east of Denver. It is a 4 bedroom, 2 bath house roughly 1600 SF. Two of the bedrooms are downstairs. They have closets but do not have egress windows.

Can this house legally be listed on the MLS as a 4 bedroom? Can it be advertised and rented as a 4 bedroom? What kind of liability is involved?

@Marc Allen what option did you go with and how did everything turn out?

Take a look at this discussion. There is a lot of good info that should answer some of your questions. https://www.biggerpockets.com/forums/311/topics/446397-umbrella-liability-policy-is-it-worth-it

Take a look at this thread. It's a couple years old but it may help put you in the right direction. https://www.biggerpockets.com/forums/80/topics/100352-cool-app-for-driving-for-dollars

Toby Hyatt It looks like Kerrville has an online parcel map. May save you a trip to the courthouse. http://gis.kerrvilletx.gov/apps/ParcelViewer/

Geo Tan Is this something that you could do via webinar? I'm sure you will get significant increase it "attendees". I know I would like to see the info but I'm not flying to LA for it. Just a suggestion.

Jordan P. This is a great question. I'm definitely not a pro and just started learning about notes too. I'm very much looking forward others thoughts on this. Any chance your are willing to share the model you referenced?

Zoning should help you figure out where in the city multi-family properties are permitted. This will help you narrow down your search but won't flag specific properties that are currently multifamily. The county assesses office will have parcel data that will help with that. Every county is different but many have downloadable spreadsheets (.xls or .csv) on their websites that show specific property data. Denver County for instance includes property address, owner name, owner address, number of units, etc. If you don't find anything online just call the assessor office. In most states mandate that this data is published and available for public use. Hope this helps.

@Account Closed

One of my clients is the biggest industrial REIT in the game and their operations headquarters is here in Denver. My main contact is the head of their Digital Experience initiative within the Global Marketing department. They are doing pretty cool things with some cutting edge technologies. It is definitely on the other end of the real estate spectrum from most of the local investors you'll find on BP but based on your grad school program I thought it might be of interest. With some vetting I could make an introduction. Their 2017 internship program is already underway but it sounds like you will in school for a couple more years.