All Forum Posts by: Brian Stratton

I met with Atlas.  Nice people but at this point I am not ready to buy property in Denver/Colorado Springs area.  The market is way to hot for my liking.   I will wait for a correction or I won't invest at all in that area.

David,  Did you end up doing anything with Colorado Springs ?   I currently have one property in Tennessee and I'm potentially looking for my next property in CS.   I talked to Mike Hills from Real Atlas a while back and will probably be visiting him in March when I go to Colorado on a ski trip.  

I'd like to hear your experience you had with Colorado real estate and/or any interactions you may have had with Real Atlas.

@Vivek Shah  Thanks for the update.  Sounds like you made a good deal.

What area of Memphis did you end up buying in?  I'm talking to Dave Dickten from Memphis Turnkey right now on trying to line up a property.  I've been researching for about a year now.

Vivek, did you buy a property yet?  How was the experience if  you did?

Somebody posted a topic on bigger pockets last week "Why they buy properties, sight unseen."   I responded that I wouldn't do that, especially having never seen the neighborhood, the property, and never having met the company I would be partnering with.  I got a little flack, waste of money, waste of time etc.   

This thread is EXACTLY why I will be visiting my first purchase!

Sorry to hear about your situation Maria.  I hope it works out. Maybe you should go to the local media and have them shamed in public.  What happened to you is outrageous.

I have a legal question.  In the case where a property owner is using a management company to manage their property and someone get's hurt due to negligence, i.e. management company does not fix broken stair and tenant falls on stairs, or a tenant complains to the management company about a mold problem, but the company does nothing about it, and the tenent gets sick, who is liable, the management company or the owner of the property, or is it both. What recourse does an owner have to assure something like this won't happen.

I am outlining this under the assumption that the owner is unaware of the problem, as the tenant is dealing directly with the management company, and the management company is telling the owner everything is "fine and dandy." 

This is a hypothetical situation.  I pose the scenario to prepare myself on what could happen when I use a management company to take care of my property. If I actually were in that situation and my management told me there were a probably I would direct them to fix it right away.

Thanks for any insight.

Thank you James.

I am a new investor (no properties yet) but am an insurance veteran.  One thing you have to look out for in insurance policies are exclusions.  One example of an exclusion, is environmental, for example, mold.  If someone gets sick from mold exposure in your property and your policy has an exclusion for mold, it will not be covered, even with an umbrella.

I am still in my researching phase before buying, but that fact alone is steering me towards setting up an LLC before my first purchase. I read somewhere on one of the real estate websites that some plaintiff attorneys use the term "mold is gold..." That should make any landlord shudder.

...and Lane Kawakaoka, how does your comment add anything of value to the conversation?  I asked specific questions and you post some snarky drivel insinuating how superior you are.  If you have nothing of value to add, stay off of my posts. Do it again and I will report you.