All Forum Posts by: Austin Carr

@Shaun Patterson

Thanks for the extras, but as a beginner it is tricky to learn the trends? How would you suggest getting a head start?

Hello all

I just wanted to see what experienced landlords view as the top 3 mistakes new landlords make, from personal experience or elsewhere.  I want to buy my first 3 room property soon and rent out 2 rooms.  I don't want to mess it up! 

@Brian Garlington

That's how I've been feeling the last 4-5 months.  I'm a little nervous but over the nervousness and ready to jump in ASAP (responsibly).  I'm looking now for down payment grants i'm qualified for.  If I can move in for anything less than 2k I can pull the trigger anytime.  But if i need 3-5% down I'll need another month or so.  Current lease is done June 25th so I'm shooting for around late summer early fall.  I'm excited Sir.

@Drew Fein 

Oh yes I forgot about myself, that is important to know.  I'll probably start off with one roommate while getting everything prepared for the 2nd.  I will need to research the permit requirements well before i close on anything.

Thank You BP!

@Thomas S.

When a tenant is ready to move on would you require a months notice or just roll with any notice?

Thanks for all responses, I will review this thread and make plans based on this good input.

@Joe Splitrock Now that is some good information!  If anything comes from this discussion it will for sure be the Cozy site, learning my landlord regulations and don't be too nice or naive.  The idea that cash truly does have so many holes/questions is waking me up to the ugly reality we live in.  I will take this with me moving forward.  Now I just need to find someone local i can sit down with and pick their mind!

Thankz All

@Ray Harrell

Yeah that sounds so sticky if things go bad, good thing i don't have many friends or family here in Denver :).. :(

@Jon W. Oh nice so just use the smart move to screen then Cozy to collect rent.  Great idea!  Question:  What do you mean by using cozy to "pay off of your smartphone" What would i need to pay for by collecting rent? Think i missed something haha

Thanks All!

@Andrea Collatz

Thank you for the additional information, I will definitely take that into account moving forward.  Seems like you guys indeed have everything covered.  Can tenants pay rent through the site as well?

@Linda S.  I'm so eager to get the ball rolling on this and i appreciate your honesty.  I feel the same way about setting up a tight tight contract too.  As long as the major factors are included on it with both signatures I'll save myself a lot of trouble and not get bogged down with all the extra wording and all.  With both signatures I'll feel safe, what about the idea of getting a notary to witness.  That not necessary usually?

P.S. Sorry about the Raiders moving, that's just foul in my mouth still and I'm a Cowboys fan!

@Linda S. I was thinking the same thing about wanting cash,  some book i was reading said "NEVER ACCEPT CASH OR PERSONAL CHECKS" I can understand the personal checks part but cash   is about the best form of a legal debt paying tender that i know of!  Part of my problem not being too friendly is not having many friends right now! So i'm vulnerable, I'll just have to put that behind me and move forward, again this is about my money.

@Joe Splitrock @Linda S. Thank you for chiming in! What would it take for me to adopt this longer lease that you have?  My plan is to have 3rooms and live in one myself so it would be owner occupied and only 2 unrelated persons living with, so i shouldn't need a special permit.  Zoning is also a new concept to me that I would need to consider, maybe we can discuss further sometime, coffee?

Thanks All