All Forum Posts by: Amanda Young

@JD Martin thank you for this! Very helpful.

You guys are all fantastic! Thank you for these suggestions.  I definitely prefer to have a single account, so it sounds like I just need some good software manage the in/out transactions with the account.  Thanks again!

Closing on my second rental next week! And in setting up all the paperwork, I'm wondering what are the pros and cons of having one bank account for all properties vs. having separate bank accounts for each.  The main reason I can think of is just for bookkeeping purposes, it will be easier to break them out, but are there any other things I should consider before deciding whether to open up another account or just combining? Thanks BP! 

If your property appraisal comes in under the offer price, is that additional gap coverage treated as an acquisition fee or as equity in the property?  My closing statement has it categorized as "down payment" but I didn't think it would be equity in the property, just additional money that goes to seller?  Can anyone clear that up for me?

@Chris Lopez I love these podcasts! Jenny is a Rockstar and seriously my spirit animal when it comes to her tracking and spreadsheets!

I'd love to hear an episode where you gather a bunch of COS property managers and get their take on the market, similar to your Denver ones.

Keep it up!

Hi suzanne! I too am a new landlord in Denver. It's addictive and I'm currently looking for the next one. Check out Chris Lopez's Denver Investment Real Estate Podcast. Lots of great information targeted to the Denver market. Good luck!!

@Elizabeth Klingseisen thank you! This response is so clear and is very helpful. It seems so simple but as a newbie, I was having trouble figuring it out! 

When reaching out to potential sellers and you want to use an absentee owner list, are you also supposed to drive for dollars to find the homes with the overgrown weeds and are in bad shape and then match those homes to absentee owners. Or is reaching out to absentee owners even if the house is in nice condition a good strategy? What do people normally do?

@Ben Einspahr thank you! This is tremendously helpful. I guess I just need to pinpoint an area and really start looking!

@Ben Einspahr ahh, this is how I recognized your name. I just listened to Chris's househacking mastermind podcast and I kept thinking, why do I know that name!? :) 

Where did you and your wife purchase that house with the suite over the garage? My husband and I have a 2 year old and I keep entertaining the idea of a househack, but we want to have some privacy. I'd love to find a house with a separate "carriage house" or ADU to be away from people, but I feel like that is a unicorn in Denver. Did it take you a while to find yours? What areas were you considering? Thanks for your feedback!!