All Forum Posts by: Braden Hobbs

The lease doesn't specify a fee for not leaving the property on time (our future lease will). 

Luckily we are selling the property and not trying to move a new tenant in.

Our tenants have so much stuff to move and it's just the couple loading it all up, that they are still working on moving out two days after their lease ended. They should be done tomorrow from what it looks like. 

I'm curious if anyone has had this issue and how did you handle it? Can you legally charge them rent for those two days and remove it from their deposit?

@Lana Lee

I did get the next month’s rent, and they are still living there.

Hi all, looking for referrals for a concrete company to do a driveway in Greeley.

Thanks!

Jon is right, zoning is strict in Greeley, all it takes is one neighbor to complain. 

How are you structuring this deal? Is it owner financing, interest only? How do you plan to get out of this financing and actually pay down the property? If the comps are 170k why would you buy it at $220k?

I think $500 per room is ambitious for a basement apartment, especially without parking. Would it have a separate entrance and utilities? If not, then you're gonna have those issues to deal with as well. The people downstairs aren't going to want the upstairs people controlling their heat if they are paying for it.

If you are zoned for medium or high density, I think you're more likely looking at a townhome that could service 2-5 students for 1400-1700. Maybe more if it's a newer place with amenities, but most stuff near campus is older.

Personally, I'd try to get this place for much less than $220k or look elsewhere.

@Matt M. I tried filtering through the crap on Craigslist to find an actual wholesaler doing legit business with no success. If you have a good way to filter out the garbage, I'd love to know. 

Hey all, I'm looking for a good wholesaler to be a part of your buyers list. I am looking for properties in and around Denver (SE Aurora or Centennial preferred), Fort Collins, or Greeley for long term value add rentals. 

Hey @Scott Trench

I'm curious what your criteria was for narrowing dow to the locales you listed? After some research into Jacksonville, I decided against it, but I'm thinking maybe I overlooked something. 

@Chris T. Selling during the slow season is all about price in my opinion; if the house is decent and in a good spot. If it's not in a good location, the price is still the ultimate factor, it'll just need to be lower. 

I tell clients when they want to wait until spring to sell they can expect about 5-15% more for their property, but they can also expect to spend that much more on their next property so it's a wash. As an investor, you need to decide if you are willing to price it to sell for this season, or if you're willing to eat the holding costs until the spring and hope you make 10% more on the sale.

You said you've done 3 price drops already since Oct. 6th? That's not good. As a buyer, I'm now wondering why no one else has bought the place and why you have lowered the price 3 times in one month? Your property now has a stigma associated with it due to the price drops. My opinion on price drops is that you have to drop it enough to appeal to a whole separate group of buyers. So if you're priced at $250k, a drop to $245k isn't going to attract very many new eyes.

I'm not sure what your market is like, but if it were my property here I'd unlist it, maybe try to get a 6-month tenant in there, and then re-list. 

@Mark Ferguson

I was firm with them, and if I don't see the auto rent start processing tomorrow, it'll be another firm conversation with notice. As you said, I'm not worried about getting the place rented, especially with spring/summer coming up.

@Joe Splitrock

As I said above, Greeley sewer/water attaches the utility to the home. If it doesn't get paid, it will become my problem as the homeowner. They paid, and they understand I'm aware of past due bills now. I'm hopeful this won't happen again. If it does, out with the old, in with the new.