Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Manny Rana

Manny Rana has started 6 posts and replied 18 times.

Post: Propety Tax - Taxable Value

Manny RanaPosted
  • Burbank, CA
  • Posts 20
  • Votes 3

@Drew Sygit

I will PM you that info.  Thankis.

Post: Registering a Rental Property

Manny RanaPosted
  • Burbank, CA
  • Posts 20
  • Votes 3

@Andrew Syrios

In my opinion it's overkill given that 3 months ago I just did the inspections as part of the closing process.  But if that's what it takes to be compliant then so be it.

I appreciate the input.

Post: Registering a Rental Property

Manny RanaPosted
  • Burbank, CA
  • Posts 20
  • Votes 3

@Drew Sygit

Thanks for the input.  Seems like another way to tax a landlord but if it's a cost of doing business then that's what I will do.

Definitely trying to get these inspections done ASAP.  I have heard they are cracking down on noncompliance.

Thanks again.

Post: Propety Tax - Taxable Value

Manny RanaPosted
  • Burbank, CA
  • Posts 20
  • Votes 3

@Drew Sygit

This is great info and very much appreciated.  That's exactly what's happened with my home, the Assessor has brought up the Taxable Value to match the SEV.

My case to appeal is broadly this.  The last sale on the house was in March 2019 and now, less than 3 years later the Taxable Value has tripled.  There was no renovation/rehab work done to/within the property during this time.  It just doesn't seem logical; I could understand if the last assessment was 20 years ago.  One thing I will definitely do is take a look at SEV comps in the area based on @Scott M. suggestion.

In your experience, is there a case here to be made for a favorable outcome when I present to the City of Detroit?

Thanks!

Post: Registering a Rental Property

Manny RanaPosted
  • Burbank, CA
  • Posts 20
  • Votes 3

Hi @Scott M.,

Much appreciated, this is great information and provides a lot of clarity.  Do you have a preferred lead based paint inspector you've worked with in the past?

Thanks again,

Manny

Post: Propety Tax - Taxable Value

Manny RanaPosted
  • Burbank, CA
  • Posts 20
  • Votes 3

Hi Everyone,

A few months back, I closed on a 2-unit in West Village and this week I got the notice from the Board of Assessors in regards to the new taxable value on the property.  I was expecting an increase, but I wasn't expecting the taxable value to almost triple.


I'd love some guidance when it comes to filing an appeal.  I live in CA so I'm trying to understand the process of appealing for a non-resident.  I've received conflicting guidance and looking for clarity.  Some tell me to call the Assessors office and schedule an appeal and an inspector will physically come to the unit to reassess.  Others tell me write a letter of appeal and fill out the Board of Review petition form and mail it to the Assessors office.


I am planning on calling the Assessors office for clarification, but any guidance the community may have on the process of appealing would be really helpful.  If anyone has gone through the process, I'd also love to know my chances for a favorable outcome and what I can do to ensure a favorable outcome.


Thanks so much!

Manny

Post: Registering a Rental Property

Manny RanaPosted
  • Burbank, CA
  • Posts 20
  • Votes 3

Hi Everyone,

A few months back I closed on a 2-unit in the West Village and now am in the process of registering the property as a rental as renovations are almost complete.  I'd like to get some advice/clarification on the process of registering the property as a rental, specifically the inspections required.  In order to get a certificate of compliance, I see I have to get an initial + lead based paint inspection.  My questions are:


1) The City of Detroit website lists 4 approved inspection companies.  Is it required that I must get an initial inspection done by one of these 4 given that an inspection was done as part of the escrow process?

2) In regards to the lead based paint inspection, I'm researching on the websites of the 4 approved companies and I see it can cost upwards of $1,000 for a lead based inspection?  Is this correct?  Seems rather steep.


Any information or guidance would be greatly appreciated!


All the best,

Manny

@Drew Sygit I noticed you provide property management services.  Are you accepting new clients?  If so, can we set-up a time to talk?  Thanks.

@Drew Sygit

Thanks Drew, I've heard a lot about ABC so I'm glad to hear that from you.