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All Forum Posts by: Nicho Pruett

Nicho Pruett has started 10 posts and replied 42 times.

Post: Zoning variance for estate property

Nicho PruettPosted
  • Investor
  • Upper Marlboro, MD
  • Posts 43
  • Votes 35

If there’s a better BO forum that might help with the below. Please do not hesitate to let me know.

I am trying to request a variance for a property that is not in my name. It’s in my mother’s name; however, she is deceased and I am the Administrator of my her estate.

I submitted an application to the city for a variance to convert the SF into a MF and the application was returned without review. They are requiring that the application be submitted by the current owner. (Note: I submitted documentation from the Register of Wills office evidencing that I am the Estate Administrator).

I will eventually transfer the house in my name but there is an outstanding mortgage and I am trying to do a loan (purchase property/assume mortgage/rehab cost) all at one time. But I need proper zoning before the bank will do it. (Trying to avoid multiple settlement costs).

Anyone know how I can get the application through zoning without transferring the deed into my name?

Thanxxx so much.

This was the response I received from my architect who submitted the application for me:

So our application go bounced back from the city. I guess the letter of administration was insufficient. They're looking for a transfer of title, see below...

"The applicant listed as OWNER does not correspond to the owner listed with the Office of Property Assessment. Please provide your signed HUD 1/settlement sheet with sellers, buyers, and settlement agents signatures or the complete eRecorded deed from the city of Philadelphia"

I asked at the city and it sounds like in order to move forward with this being an administrator of the estate is not enough and you will need to formally transfer the deed into your name.

Post: Tenant pours bag of quick cement in toilet

Nicho PruettPosted
  • Investor
  • Upper Marlboro, MD
  • Posts 43
  • Votes 35

All I was asking about insurance to cover such acts. To ensure I am properly covered in case something like this were to happen to me.  For those who asked. It ended up just being a damaged toilet. 

Thanxx to all for the feedback. 

Post: Tenant pours bag of quick cement in toilet

Nicho PruettPosted
  • Investor
  • Upper Marlboro, MD
  • Posts 43
  • Votes 35

@Jim K. Thanxxx so much.

Post: Warrants out for potential tenants?

Nicho PruettPosted
  • Investor
  • Upper Marlboro, MD
  • Posts 43
  • Votes 35

@Jonathan Watt who’s going to pay for the door when it gets Ike’s in by the police. I’m guessing are donating that money to their cause.

Really this is a no brained. HARS PASS.

Post: Tenant pours bag of quick cement in toilet

Nicho PruettPosted
  • Investor
  • Upper Marlboro, MD
  • Posts 43
  • Votes 35

A friend of mine had a disgruntled tenant who they were about to evict. The tenant poured a bag of quick cement in the toilet and has destroyed the system.

Is there any kind of insurance that could have been purchased in advance to cover such an incident. Of course recourse from a tenant with no money is useless.

Asking as a scared new landlord. Geesh!!! Things people will do to harm you.

Post: Newbie advice on finding a good Home Inspector and Contractor

Nicho PruettPosted
  • Investor
  • Upper Marlboro, MD
  • Posts 43
  • Votes 35

Thanxxx so much. Nicole-I have to SF that I want to convert to MF. One is already mine the other I’m in the process of purchasing. I found a quality home inspector now for the architect and construction companies. Greg - really great tips. 

Post: Seller wants to live in property for 6 months aftet settlement?

Nicho PruettPosted
  • Investor
  • Upper Marlboro, MD
  • Posts 43
  • Votes 35

Background:

I have a childhood neighbor who is ready to sell their family home. I think he has some alcohol/drug problems and needs to sell right away (there’s been multiple family deaths due to old age/illnesses in the house that he says is beginning to haunt him & financially he’s barely holding on). But he hasn’t found anywhere to live. He’s trying to find housing in a senior living facility which, will take about 3-6 months - maybe.

My dilemma:

I am being fair with my purchase amount but don't want to put the guy out on the street. He asked if he could live in the house for 6 months until he finds a place to live. Additionally, I will not be ready to begin repairs (converting house from SFH to duplex) for about that long, so it keeps someone living in the property to prevent vandalism. Win:Win for both of us.

However, I don’t want to later have an issue trying to evict him if in 6 months he still has no where to live and probably will have spent all the proceeds he received from the sale.

Question:

Is there anyway I can write in the contract allowing him to stay for 6 month while having the title company hold in escrow a portion of the sale as a stipulation for him moving? If so what would be a fair amount to withhold? After all is done he will probably end up $20k - not a lot in Philadelphia,PA but at the same time it is a lot for someone with his issues.

If my idea isn’t the best please offer any suggestions. Trying to avoid eviction headaches.

Post: Newbie advice on finding a good Home Inspector and Contractor

Nicho PruettPosted
  • Investor
  • Upper Marlboro, MD
  • Posts 43
  • Votes 35

Besides references. What are some practices/tools you employed as a newbie in RE investing to assist you in finding a good home inspector and contractor for your projects?

Do you use a checklist of must haves like pictures of previous work, specific # of reference checks, particular licenses, etc.

@Brent Crosby Thanxxx so much. Taxes are paid up and title search completed. Those were the first things I did.

@Gibson Chigbu Jr.

I agree. They could have played hardball a LONG time ago any they didn’t. For that I am GRATEFUL.

Yes I will keep the house. My mother would have it no other way. She wasn’t one to not pay her bills and understood the value of real estate. She owned a few properties when I was younger. However, she wasn’t in the best state. We found out that she had Alzheimer’s and it effected her sooner than we knew. Causing some bad decisions.

They say parents never stop teaching and I am truly learning many lessons from her even from the grave. 😂😂

I consider myself BLESSED.