E12: Mike Bonadies - He bought a False Multifamily: The Triplex That Wasn't
True Multifamily
English - March 04, 2020 12:00 - 21 minutes - 19.4 MB - ★★★★★ - 22 ratingsInvesting Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Mike Bonadies joins Justin to discuss his explosive growth with not only his own investment properties but his management company and maintenance company with hundreds of units under management and over a dozen rehab jobs running simultaneously.
Mike shares the story of buying a triplex that wasn't actually zoned as a triplex. Despite being taxed as a triplex, looking like a triplex, and functioning as one, it turns out the previous owner never actually went through the proper zoning procedures.
Mike stresses the importance of making relationships with the town officials, clerks, council and even the mayor. He showed them successes from nearby towns and shared his desire to turn around this asset in their town. He's taken what could have been a terrible situation and turned it into an opportunity to build relationships with key town officials and even a new source of property leads!
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TerraVestra Property Management
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