All Forum Posts by: Cameron K.

The brick is 1890 original brick. The house next door is like 2 feet away so they have to access via the neighbors wall.

We found out we need to rebuild a parapet wall on a 4 plex in Denver. We've done a few masonry repairs before but nothing like this. The house next door is close so we have to use the roof of the homeowner next door. The quote I got was 25K. That's right. 25 thousand dollars. I was in sticker shock but I really need these repairs done. I got other quotes and some of quotes wouldn't even touch the project. One quote was 13k but wouldn't do all of it because of access. Do I just bite the bullet and pay this crazy amount? The whole thing should take a week or so. 25k just seems like a lot.

Any masonry recommendations in Denver?

I have collected security deposits first thing before, but for some reason tenants have become harder to find and I don't want to scare them off. So, I'm looking to lower the rent as the next step.

Thanks! I was kind of asking if there is something a prospective tenant can do with a lease? Use it to negotiate rent elsewhere? Use it at a bank? Don't know. I don't think the lease is intimidating.

Good Morning!

I have had a few properties give their notice in the last 6 months. I've had at least 4 prospective tenants show interest and then when they get the lease agreement online on HelloSign, they ghost. Is there a nefarious reason for this? Do they take the lease and do something with it? Should I start to insist on in person meetings for lease signing again? 

I'm curious which insurance company you used to do a personal umbrella policy on a commericial LLC. I found no one who would do that, but it would have been my preference. One LLC with umbrella coverage.

I think there are so many opinions on this, but I'll share mine. 

I have just a few buy and hold multi-families and an airbnb in one of them.  I spent hours pouring over this topic and got all the advice. The CPA says the LLCs are the way to go and the insurance company says the umbrella is the way to go...of course.  

After everything was said and done, I just ended up going the umbrella route. It's under $300 for the year and provides 1.3M in coverage after the liability coverage on each of our multi-families. I did end up setting up an LLC for one of the properties, but sometimes the insurance company doesn't want you to double dip with an LLC and won't let you cover a property considered "commercial" with an umbrella.

My understanding is that unless your financials are PRISTINE, any good attorney can crush the wall of protection that the LLC is supposed to provide anyway. That's the main reason I just went with Umbrella coverage as our main protection. That and simplicity.

Good luck! Please share what you did, I would love to hear what you went with!

Good afternoon!

I am looking for a bank or credit union that will lend in all 50 states with a product of 30 year fixed rate mortgage. I have a credit union that will do all 50, but the product is for a 15 year fixed only. I'd rather not pay hard money rates at this point. Has anyone had luck finding this? Please recommend!

Thanks!

Good Morning BP!

I'm wondering if anyone has used the HomeSmart Service from Xcel Energy. We are in Colorado and it looks to be a good deal. Each property is $20 a month and includes multiple appliances and a tune up the first year. It's a replacement plan, basically like home insurance.

Has anyone used this?

It looks great! 

I am curious if you used a general contractor for the flip, or if you just coordinated the fixing yourself. I am looking at doing a flip in the near future and I am looking into having a company do it, or just do some of the work myself!

Thanks! Best of luck on the sale!