All Forum Posts by: Trevor Davis

In 2021 I bought a 4 unit property as my first investment property.  Code enforcement is now telling me I only have a 3 unit property, so I have to kick my tenant out of the newly upgraded unit.  

I got a loan on the property when I bought it.  It appraised as a 4 unit property.  I had it appraised a couple years later and it appraised again as a 4 unit.  I have 4 mailboxes, and signs for all 4 addresses, and I've been paying sewer for 4 units.

I guess I need to set up a protest hearing, but what should I be doing before then?  Do I need to get a real estate lawyer?  If I want to prove my case myself, where should I look?  

Quote from @Jake Andronico:

@Karin Recalde

I'm sorry to hear that. Happens all of the time. Assuming you used financing, i'm assuming it appraised? 

We always check the assessor as we see people trying to boost unit count when it's not actually true. 

 Hi Jake.  I'm in the same boat as Karin.  The city is claiming my 4 unit is really a 3 unit. It has appraised twice as a 4 unit. What can I do to prove my case?

Thanks for the reply.  There's no chance I'll squeeze a dime out of this guy.  Any idea how much legal help would cost?

I have a pretty cool head about things, but it would be nice not to think about this at all.  I wonder how involved would I still have to be if I hired representation?

Hello, 

I have a small multi-unit rental in Adams County, Colorado.  I have a tenant that is not paying rent, and won't answer phone calls or texts, so I need to start the eviction process.  The process is new to me, but it doesn't seem all that complicated (link below).  Should I just follow the instructions and do it myself, or is it advisable to hire legal help?  How much time and money should I expect the eviction to cost?  Any insights would be appreciated.

https://www.adamssheriff.org/sites/default/files/2018-03/evi...

Hi Jamie,

I'm glad to see another good review for Baselane, as I signed up for it this week.  It seems great, but I'm having some trouble getting started.

So far, my first tenant is having trouble getting payment set up.  She messaged me saying she is signed in, but needs me to change the "due date" to the 3rd because that is when she gets paid.  Is it true tenants can't pay beyond the due date?  I'm sure there's something not being understood between me and my tenant.  I'm a little frustrated because I can't see what the tenant sees on their end.

Any help would be appreciated!

My contractor stole a bunch of my stuff of mine, and destroyed a bunch of other stuff. The company is now wanting to offer me the used amount for the items.  Is this industry standard?  Should I get the replacement cost?

Quote from @Adam Greene:

I know you are a new agent but this is an important lesson and worth learning from the start. Be your best authentic self.  The clients who do work with you will love you. Your rep will grow and your brand will have value even if nobody ever pronounces your name correctly. Also don’t work with *** holes who won’t work with you because of your name.  Unless your name is *** hole then maybe you should consider changing it. 

I agree she shouldn't change her name,  but I don't think it is all about people being ***holes. I think a lot of people just don't want to mispronounce someone's name. They could be nudged to call "Kelly", "Jessica", or "Carlos" instead because they know how to pronounce the name of the person they are calling.  

Sapir is a nice, simple name that I'm sure is easy to pronounce once one knows how. Maybe she can add a phonetic spelling, or a "rhymes with" or "sounds like".  It might have the added benefit of making her name more memorable too.

There is something called "recasting" a mortgage. You can put down a chunk of money and they recalculate your monthly payment accordingly. I plan on doing this when I get within striking distance of meeting the 20% threshold.

I'm not sure how ubiquitous this option is, so you'd have to see if this option is available to you. 

Originally posted by @Michael Plante:

Originally posted by @Account Closed:

Investing in multi-unit properties even as small as 4 units. It seems like millions and millions of investors have their heads buried in the sand and they have single family homes burned deep into their small brains. I seriously want to punch brokers who tell me you can make as much with single family homes as multi-unit properties and I will challenge any real estate broker or investor, any day. and that is no b.s. nor joke. Bring it on! I love a good argument.

 Very interesting

any guess why Blackstone chose to buy 6 Billion dollars worth of SFH to rent out VS buying multifamily?

I'm a Multifamily investor. I don't have a strong opinion either way but I have some guesses as to why Blackstone would buy SFHs.

 Multifamily properties are hard to come by, so that might be a reason.  Multifamily properties also vary wildly from one to another, so it is much more difficult to systematize. Maybe all they are almost slowly concerned with appreciation instead of cashflow. Just some thoughts. 

If you get a primary home loan, you have agreed to live in the property for one year. My lender said they often issue a second loan a little bit before the 12 months are over, but plan on a full year. 

You do not need to refinance when you move out.