All Forum Posts by: Brian Bohrer

Hello @Patrick Wiggins,

James has covered most sticking points regarding your desire to Mid-Term or Short-Term rent your home.  You will definitely have to weigh your options.  I am curious, how long will you be relocating for the job?  Also, will this be a fully furnished home?  

I ask, because I run a Professional Landlord business and may be interested in renting your home with the intention of sub-leasing it to Mid-Term or Long Term tenants (depending on your timeframe).  It sounds like you do not plan on managing the rental yourself and I would love to speak with you about some options I may be able to provide for you.  Feel free to reach out if you are interested and we can discuss further! :)   

Wishing you the best in your new adventure!

Take Care,

Hello @Jose Sosa,

I see this post is a little dated, but I will provide some assistance in hopes that you are still in need of help. :)

I would suggest speaking with a local attorney to provide the paperwork. A realtor cannot provide this type of paperwork for you, nor can they be a part of the negotiation when there is a subject-to transaction in play. There was also some recent legislation in Colorado that does not allow any Title companies to be involved with a sub-to transaction that involves an FHA or VA loan.

I know Bill Bronchick does work with investors and has a sub-to course you can purchase with his contracts. You may be able to reach out and purchase his paperwork only, but I would strongly suggest educating yourself on this topic, if it is your first sub-to transaction that is.

As far as property management goes, I know Muldoon & Associates works in that area and may be able to provide you with some assistance.  I also run a Professional Landlord business and may be interested in leasing your property to sub-lease to a end-use tenant. But, Pueblo is about a 45 min drive for me and may not be the best fit currently.

Please don't hesitate to reach out if you have any other questions and I would be happy to assist!  Good luck and have a great day :)

Hey @Cameron Enger,

It is true that there are no additional permits required when renting for longer than 30 days per stay in Colorado Springs.  But, in my humble experience it seems you really have to stand out among your competition to have a successful mid-term rental in this competitive market.  

Similarly to Short-Term rentals, the market is becoming a bit saturated and you must be able to offer amenities, location, marketing or pricing that place you above your competition.  With all these factors, plus the cost to furnish the home, it can really add to your initial investment with no promise of a return.

If you need to move quickly and are not confident in your skills to self manage your long-term rental, I would love to speak with you about leasing your property as a professional landlord!  My company solves many of the headaches of traditional property management all while saving you time, money and the hassles of dealing with tenants and toilets!

I would love to connect if you are interested!

Have a great rest of your day :)

You are definitely not alone!  I attend Real Estate industry related business meetings monthly at the local Realtor's Association in Colorado Springs and the insurance agents who attend have all attested to drastic premium increases over the last year...  

In addition to some Insurance companies pulling from the area, these increases are related to the rising costs of building materials, labor, and frequency of hail storms etc.  

Some association have volunteered to convert from a group policy to an individual policy format.  This may decrease the amount of dues owed per unit, but also creates major issues when there is a hail storm or other loss that effects the exterior and shared spaces of the property.  For example, say you have 4 side-by-side townhomes that share a roof and if there is a hail storm and one of the units is un-effected.  How would you address this?  What if there are multiple units per level of the property, would only the top level units be responsible for a roof replacement?  

With as much talk about creating affordable housing in Colorado Springs, there is going to have be some discussion about how to address these rising costs in housing that are not directly related to the sales price of the home.

I wish I had a better answer for you, but this is going to be an issue for HOA's in the area for years to come...

Hey Kate,

Here are a couple of articles that will provide with some recent changes, but this is not a complete list.  This site provides a small summary of some of the recent changes that went into effect this year.  https://frascona.com/2023-colorado-residential-leasing-chang...

I would also recommend checking out the Nolo website for a nice summary of some of the other current laws in place.  https://www.nolo.com/legal-encyclopedia/overview-landlord-te...

and you can also find a complete list of laws from the state site here... https://leg.colorado.gov/bill-search?field_subjects[0]=58&am...

I hope this helps! :)  

Hey there, fellow Colorado property owners and investors!

If you're feeling the ripples of those new landlord/tenant laws that kicked in this year, you're not alone. These changes are shaking up the game for all of us, making self-management tougher and traditional property management pricier.

You might've noticed the tweaks in tenant screening, radon disclosures, deposit rules, and even pet-related regulations, all making it trickier to keep things profitable. And let's face it, those increasing rates from professional managers aren’t making it easier either!

But here's the good news: there's a way to dodge the headache without breaking the bank. I've got some solutions up my sleeve that could help you trim those management costs or bid farewell to the self-management stress—without the hefty bill of a typical property manager.

Wanna chat about it? Let's talk strategies to keep those properties profitable and hassle-free despite these new laws. Give me a call, send me an email or drop me a message, and let's navigate this together!

Wishing a prosperous and profitable 2024!

Welcome to the Family James!

Love the profile pic, I have 2 huskies myself that keep me more than busy this time of year as they never want to come inside from playing in the snow! haha 

I love connecting with other like minded investors in the Colorado Springs area. vIf you ever want to grab a cup of coffee, feel free to reach out!  I am a part of a great investment mastermind group that can definitely help you get on track if you don't know where to start.  I hope to hear from you soon!  Best of luck on your real estate journey! 

Take Care,

Brian Bohrer
HomeSmart / Next Gear Mortgage Company
Colorado Real Estate License #100099780
Lender nMLS#2415373
(308)258-0226

Hey Michael,

Congratulations on beginning your journey with the greatest wealth generating asset known to man! I agree that when you are over-analyzing you can definitely feel like you are spinning your wheels in the mud. I would suggest getting out there and getting involved with local real estate investment groups. You will find other like-minded individuals who may be willing to JV (joint venture) with you into a deal that is already in motion. 30% of something is better than 100% of nothing! Otherwise I would just suggest that you continues analyzing deals until you find the right one that works with your numbers! Feel free to call insurance agencies, look at assessor records, call the utility company or do anything that is necessary to help lock in your variables. Then like Nike used to say... "Just Do It!" as part of the process is learning as you go along.

Listen to the most recent Biggerpockets podcast #722 where the Guru, David Greene, talks about how many mistakes he made with his first property.  It is a really eye opening episode that shows you don't have to be perfect, and the real value can come from the education of just doing!  I hope this helps and I wish you the best on your real estate journey!  Take Care,

Hey Benjamin,

Generally when you are purchasing a property "subject-to", then you are purchasing the home subject-to the current financing, meaning that you will be under the terms of the loan already in place.  In most cases, a seller who is selling subject-to may want a down payment. if they have some equity built up, but generally they just want to solve the problem of owning their house.  Many times these sellers are distressed and looking for a way to get out from under the burden of the house payment.

You will be taking over their loan login credentials, placing your own insurance on the home and usually transferring title to a trust for your protection.  There are several documents you will also want to file along with the sale as well.  But most of our questions will be answered when you see the loan statistics during the discussion phase when you meet with the sellers.

I hope this helps!  I wish you the best in your real estate journey!  Take Care,

Hey Breland,

There seems to a new property management software available every week!  I would utilize free trials and get the feel of a few to see what you like and don't like.  I just recently attended a seminar where they all were using a company called buildium.com, they liked the website's ability to run a small or large portfolio all from place.  I wish you the best on your journey! Take Care,