First Look! 90 Year Old Commercial Building on the Compound and Why the Tenants Were Forced Out!
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- Опубликовано: 29 сен 2024
- I bought the compound almost 2 years ago for $410,000. Most people thought I was absolutely crazy for purchasing the property including everyone who worked with me and my family. The property consisted of 3 houses and this commercial building that were all occupied by tenants. Most of the tenants were not paying rent, the leases were in the wrong names, and there was junk, cars, and campers everywhere!
We offered cash for keys to the house tenants and two of them accepted and we had to evict the other. That was a crazy eviction with tons of stuff. Eventually, they all were out and we remodeled the houses and rented them out again. The houses are now rented for $1,100, 1,200, and 1,250 a month, and the commercial building was rented for $1,600 a month the whole time.
We would have loved to keep the commercial tenant who ran an auto repair shop but the city said his business was illegal and we got tired of trying to work with them due to their demands. I go over all of that in the video!
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Could have made it into a tire shop. LoL
I like your style!
Lol
Oh man, best comment of the month award. So much room for activities! I mean tires...
LMAO right?
Hmm, Mark! Petty beaureacrats with too much power. Something to consider, squeaky wheels do better with a little grease. Or, you might want to consider why they find you somewhat alarming? Consider buddying up with the other businesses and get the low-down. More than one way to skin a cat. 🖖🙏🇨🇦
Why do people want to skin cats?
@@investfourmore Lolol !!! Cats are only skinned because they tend to like their freedom too much.
I think the city is just looking for more money in the till. It's too bad they can't just work honestly with home/land owners.
I wonder why the city would antagonize you, and break their promises. If they think that's going to make you MORE cooperative, they're out of their minds. I also really do not like the sound of "Well, we're almost certain to approve you for the business license if you use our contractors." What, does the mayor have a kid who wants to play at doing construction work or something? Where I'm at, they call that conflict of interest.
Yes, they definitely seem to have it out for me. After this video probably more so ;)
@@investfourmore If you were veryb very rich, you could afford to get a variance to burn the whole thing down and just walk away or sell it for $1 to the next guy. Maybe the last owner had had it with the city.
@@investfourmore Then the next time you do an update from there, make sure to show us the city "Welcome Sign". Giving you a list of "approved contractors" is bad enough, but can be done within the law- to outright tell you "use these people and it's a sure thing" is not legal. I knew California had a few semi rural places that were this sort of nightmare. FR
I'd look into the ONLY company the city would let you use. Follow the money. Who's friends/family of the ONLY company that the city accepts for survey and engineering.
They would let us use our own but they aren't cheap
Next thing you know, the city's going to expect you to pay "protection".
Haha, I am waiting for them to find other ways to lien my properties after this video,.
The petty tyrants, full of vision and local authority, want you to build their dream community at your expense - regardless of how realistic that dream is. I'd love to know the relationship to the firm they kept referring you to and anyone associated with the local government. Saying "if you use X firm to do it, it'll most likely get approved" is a bit sketchy.
Agreed
Its super sketchy it's a massive conflict of interest.
@@Crazyasian123456 Unfortunately this is how governments work. I believe this is also why everything costs so much when dealing with them... you scratch my buddies companies back and we will make it easy on you. You want to save money and use someone else... well then we might have issues. Guess I'm bitter after experiencing the same problems.
It’s all extortion. Somebody’s brother-in-law owns the survey company. In my city whenever there is a new building they have to put up a piece of approved sculpture on the building or property. And guess whos son owns a studio that won a contract to provide sculptures for the city?
They let me use my own survey company but they kept mentioning the company that would put the report together in the right way to get it approved
Sounds like you need a lawyer handling the whole situation
Holy bureaucratic nonsense!
Yes!
It does feel like they decided to pick on the property, after all the changes it is very unfortunate for you and the former tenant. It would put you off trying to do much with it. On a separate note, I do love that old brick with the cute sign, it really has some charm.
Thanks! The building is very cool!
There is NOTHING so petty as a bureaucratic employee. They have a tiny bit of authority and just take a mile. They just LIVE to make somebody's life miserable. And the nicer you are to them, the nastier they get. Never fails.
I can't disagree there. I believe a few people with the city would have worked with me but the ones with the say would not
I cant agree more. The worst!!! 🤬🤬
I cant agree more. The worst!!! 🤬🤬
I cant agree more. The worst!!! 🤬🤬
I certainly concur!!!! 🤬🤬🤬
This doesn't settle well with me at all. The city sounds crazy there. You completely changed this property. It was a total mess before. Wasn't this the same city that complained that they can't get new businesses to move in? I think we know why now.
Yup
Shakedown. Chicago Style.
haha
I would have talked to a lawyer about this. This seems to fishy to me. When you was out by the street, the surrounding area did not look any better than your property. I do feel bad for the tenants being forced out by the city. You do have enough proof with the videos what it looked liked when you brought it and what it looks like now to show cause of a lawsuit against the city.
Yes but not worth the time or money
@@investfourmore Dictators running that city. Lack of freedom NEVER fosters prosperity.
Sounds like someone was trying to line their pockets by making you use who they "recommended".
Massive corruption going on. I’d say have a lawyer deal with these ppl.
Not worth it to me
Interesting how the city is asking for a survey, they would be the ones who actually have a copy of it. And why they wouldn't let the business to continue to operate, should be grandfathered in as its a really old commercial building.
They even created the lot lines after this building was built so if the lot is messed up either the city did it or they approved the a bad plat
"Green Street Glass" would make a cool bar name...btw likely one of the other shops in the area is buddies with the city...
that is a cool name!
Yeah the city can be a pain. That's why I live in the country myself. Give some people a little power it goes to their head. Yes we need rules but really it's gone to far. It seems there are so many laws on the books between city, county, state and federal we are all criminals without meaning to be.
Yup, it is sad when the building permit guy is less strict than the city!
Man, so basically you have to pay for all the work to map out how they'll tell you how to operate your own property. Unbelievable. I bet they want you to put another nonsensical strip mall but they won't fix the street in time for extended use. Check the roof before you move your materials in and definitely use it as your storage, it's yours. *sigh* ah bureaucracy.
I don't even know if they would allow a strip mall. They want high end retail with loft style apartments above it haha
I always thought that city’s job was to promote the area, improve the surroundings in order to attract business to the area and to support the existing business owners and tenants. From your story and others that I’ve seen, that’s not the case at all.
They thing that is what they are doing but in reality they are doing the opposite
I would have thought you'd use your solicitor to address the somewhat unfair practices of this city it seems dubious and unethical to outright illegal. As for giving you the street why didn't you get it in writing? As for using a particular surveying company sounds like the city was out for backhander from this company. The city sounds so bent the pictures on the office wall won't hang straight!
I wish you well as always!
Thanks! Not worth the hassle to take it further or money!
@@investfourmore Nor is always wise to take it up the chuff........
I feel like the city has someone who is interested in purchasing that property for a use the city likes more than what you have going on, and that they are going to hassle you in an attempt to get you to sell it. I'd be getting a lawyer (who deals with city issues) advice.
Some councils are arseholes. (If not all).. Enjoy making people’s lives difficult.
Is there anyone with the city who is associated with the company they want you to use, or its employees? It seems like a conflict of interest.
Even though it has been 30+ years since I've lived in there, they are still shady!
Can you get a local news channel or paper to do and exposé on the city office that is handling this?
What a horrible shady city
Sounds like a shake down. I wouldn't bet this is the end from them. Someone has an intrest in the company they need you to use.
It sounds to me like the city needs a few lawsuits filed against it.
That sounds super shady and seems like they're trying to push you out. I wonder if they had a developer in mind to build what they want.
Doubt it. the other vacant land is just sitting there
Shame, lovely building. Your plan sounds right. Even an office for an in house contractor in there. Also, a Prime spot on the roof for a 'we buy houses' billboard....see how the city likes that. Free advertising for your business. If you require a permit for the billboard, paint the advert on the building or the overhead doors to get around it. Show them.
They won't allow a billboard there for sure but you may be able to put as big of a sign as you want on the actual building.
Mark, would you ever consider putting some advertisement spaces on the property especially being so close to a busy highway. For example, some billboards and similar options for extra cash flow?
Yes but city wont allow it
"you need this company to do the work properly and maybe it will be aproved"... Sounds very interesting kkkkk.
right
i saw it looked empty, last time i drove by
You would call those truss rods on that beam
Cool
Secure It properly before putting your things there.. ;)
for sure
That would make a great little microbrewery upscale the neighborhood
That is what the city wants in there but it would take hundreds and hundreds of thousands of dollars to do that and meet code.
Wow... love how you always seem to spin an awful situation (and you have plenty) into something positive...
Rather than rely on extortion, creepy tactics and lies, you’d think that “the city” would be more willing to give incentives, tax breaks for improvements, and work with property owners to “improve” the area...
Although a waste of time, sit in on one of the counsel meetings to see what kinds of people you’re dealing with....
I’m sure you can guess. (Miserable, clueless, power hungry, and nothing is good enough) See how other variances and appeals work out.
Whom with the city did you piss off? Hahaha
who knows!
If you have not already done done so, I would suggest getting ahold of all the property records showing property lines, easements, zoning and such. And where the official survey monuments are that surveys are based off of. If they are not satisfactory, then I would recommend you get a proper survey done of your properties so you can protect yourself from sketchy activities in the future.
Sounds like the city was hoping you would tear everything down and build a shopping center. Or, sell back to them to do that.
I would paint the ceiling bright white, help create a brighter environment without having to add tons more lighting.
Is that even legal? Can the city actually make you pay all of this stuff?
who owns the property an pays the taxes 🤔 u or the city
Who can place liens on the property
Do we ever really own anything 🤔. Keep doing what u love doing always Mark i 👀 your perseverance will win the day in the end.
A corporation wants to come in and build condos, make your life stressful so you'll let it go. Great idea on using it for your storage.
I don't think there is anyone looking to build condos here
Yeah it looks like a ghost town. They want high end development in the middle of nowhere. I think the best thing you could put on this property is a for sale sign.
Are any of your rental property stories not crazy?!
Yes! We have some great tenants!
@@investfourmore I'm sure you do have some great tenants, I didn't mean to imply otherwise. In this case the issues seem to be caused by the city, not a tenant.
I guess this city loves to make sure no one is happy. Sheeeesh
I guess this city loves to make sure no one is happy. Sheeeesh
Where is this
Hi.
Wassup
What's happenen?
Sounds like there is something quite (uh, allegedly) illegal going on with those city people. Just sayin' they sound quite crooked to me.
That looks like an undersized carrying beam for that long span. Hope you don't have another roof collapse.
it has been there for 90 years
It sounds to me that by you buying the "Compound", somebody in the City wanted it. and lost out. The City knows they're going to put a new street in 3 years from now...they know that will increase the value of the place. The City is playing dirty pool with you' and by promising to give you the street, and then taking it away...and then telling you to pay for a $5000 survey, and pay a $1000 fine, and......... Somebody in the City wants that property for next to nothing...that is small town politics plain and simple...Hire an attorney and a private detective...sue the city for harrasment and run for Mayor on the next election. Say you live in one of the houses on the COMPOUND!!! LOL>>>>
It was for sale for a long time before I bought it.
Maybe the locals knew something you didn't? There's got to be a reason they are treating you this way. ????
The city is too oppositional!!!
agreed
I'm sorry... but it appears that, moving forward, you need to be investing your money and effort into some other town. When the people at City Hall start acting like jerks.... start looking to invest
your money elsewhere.
I go where the deals are.
@@investfourmore Then I guess that I'm confused about the purpose of the several minutes in this video, which were dedicated to detailing on how you, as well as your tenant, were being pushed around by the City... and all of the threats, demands, fines, and all of that. OK, I misunderstood. You were apparently just venting. Gotcha.
@@edkulk2777 If i stopped doing business in every city that I had issues with I wouldn't have anywhere to invest. If they really want me out and I leave then they win.
I didn't know there was anyplace in Colorado that close to Rodeo Drive! That is a great set of proposals for "community standards" but for a "burb of a large, very prosperous city. Let me ask you a question; from the City's side, the Mayor's office and City Council, how many of the elected officers have a history with real estate? In many places, half or more do. Mark, you are "not from there". Are you feeling me yet? I might well be impolitic for you to say anything of the kind. All that said, it sounds like your plan "B" will reset your status quo, although it sounds like you lost one of those tenants you would rather have kept. Besides, your cars, they like the nice heated garage they already have. Thank you, but no, says the Lambo! FR
If you are employed by the city and want someone to do what you'd like them to? Use lies, blackmail and force them to use corrupt businesses! That'll surely be the best way!
A "variance" is not that desirable an avenue to pursue. It is completely at the city's discretion whether they grant it or not. You could pour infinite money into that place in an attempt to follow their directives and there is nothing you can to pressure them to grant you a variance. It doesn't even appear that you need a variance, but whether that is true or not, a variance is not a good way to go. You could spend hundreds of thousands of dollars trying to align the property with what this or that bureaucrat opines about something and they will not care one iota about that. Maybe you should look into tearing the whole thing down and building a self-storage center. You're lucky you have good cashflow from other properties...this thing could eat you alive.
Is there any heritage protection for this? Maybe a loophole
It looks like a feed store so I think you should make it a feed store...:)