All Forum Posts by: Nick Atwood

If I decide not to sign the easement, and send a letter stating, please don't drive on my property any longer. And the neighbor decides to ignore that notice, what are the repercussions of that decision?

That's a great question. Honestly I didn't know that he didn't have an easement to begin with, he's just always been using our driveway since we purchased the property 2 years ago. He's owned his house for about 4-5 years. I've never explicitly said no or yes to him. I think he must've assumed he had an easement too. But maybe he was aware there was no easement and just trying to take advantage of the situation similarly to how he's conveniently crossed over property lines.

His motivation to do this so quickly is he's in contract for the sale of his home, and the buyer is requesting an easement to purchase the home. Estimated close date is end of November. Yes red flag to me.

 Yeah this is all that I was worried about, I am going to be "selfish" if I grant he easement. That's a great question I definitely don't want this to effect my property value as we're even in a middle of a cash out refi at the moment. He's having an attorney draw up some terms, and I was planning on having an attorney represent me, with all these concerns mentioned. I hope there's a way to cover me in all these areas: parking, litter, damage, maintenance, snow, injury/liability, value. I don't want to take any risk here, and if there's a bit of risk I will just not sign it. I do like the idea of a license. Maybe I can grant a yearly license fee for use and terms outlined that's renewed yearly or something of the sort?

Anyone used Advent Finance LLC before based in Georgia? www.advent-fg.com. I sent in some quick paperwork and they approved a 2 M + transaction with only 5% down, at a locked rate for 4.25% over 30 years, with the first 10 years being interest only, but no prepayment penalty. Seems to good to be true, and I can't find any online presence. 30 year fixed term, is unheard of, and I don't think even exists in commercial real estate. I would think there would be a scam related to application fees or something, but they don't charge any fees, even prepay for the appraisal, and you pay for their $10k lending fee and appraisal after the loan is funded... Ideas? I'm worried when something sounds too good to be true...

You're right Tom, for some reason I was thinking I needed to work on this. He mentioned that he has always been patient putting up with tenants at our property, but it's not my problem he bought a house next to a multifamily! 

I've let him know I'm no longer investing time into it. He found someone to draft up a form, and I plan on forwarding that to an attorney stating my concerns about how I want an indemnity and don't want to be responsible for injury/legal matters, and I want to be ensured with contributions for maintenance/taxes maybe? I like the idea of a license Steven; if that's possible, I'll mention it to the attorney. I want to be helpful, but at the same time, I'm not here for hound outs if that makes sense. For some reason this neighbor thinks I owe him, he's encroached on property lines, probably crossed them with me and another neighbor if we had a survey done as well... :/ Ugh.

 So this means I shouldn't be doing all this work to figure this out? I contacted the local county office, and a few attorneys today and most recommended getting something professionally written up to protect me from legal matters/injury/indemnity, damage to driveway, maintenance to driveway, and more. 

I've got a neighbor selling his single family house, and he uses my driveway (multifamily units) to go up and park his cars on his property since his original driveway off the Main Street he tore out and built a deck. I didn't realize there was no legal easement for him. He contacting me trying to rush to sign a doc granting him easement or right of way. Timing is interesting as we were just getting quotes for fixing and coating the asphalt driveway, and I thought it was originally a shared driveway, but it turns out I own it. I was hoping to split repair costs. Is there any legal things I need to worry about in this situation? Is the easement worth much? I know people have sold them as they are permanent and don't expire right? Do I need a lawyer? Will we both be responsible for care? If I grant easement, and someone gets hurt on the easement and sues, am I liable? If i grant the easement, and the place is sold, can new owners legally park on the shared driveway? I just want to think this throughout before rushing.

interesting, will send a follow up email. 

Looking for a ~ 2.5-3 M loan for a 30+ unit complex. Wanting to be creative with down payment. Currenty in process of cash out refi on one of our other properties, will get somewhere in the neighborhood of 300-500k. We have other properties with equity as well if we need to tap those streams. Hoping to find a lender that will work with a seller second mortgage, or another way to finance the remaining down payment percentage. Maybe a program similar to SBA 504 which advertises 10% down would be nice so that we do not need the seller second mortgage, or bridge loan for the difference. Have experience with other investment properties. High credit score 750+, liquid assets 50k+, equity in other properties around 1 M+. Let me know if you need more information, or offer any lending options along these lines. Would love to find a local portfolio lender with competitive rates, but doesn't have to be local. NOT looking for hard money with interest rates! Conventional/creative financing with standard interest please!