Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Carl Jackson

Carl Jackson has started 0 posts and replied 18 times.

Post: Renatus

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

Do a search on their CEO Bob Snyder and Nouveau Riche. And even on Jim Piccolo.

I won't touch anything that involves those guys.

Post: Renatus

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

Do a search on their CEO Bob Snyder and Nouveau Riche. And even on Jim Piccolo.

I won't touch anything that involves those guys.

Post: do i need a license to use LLC

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

@Nicole Wyckoff - the short answer is no.

Post: Tenant is demanding I test for asbestos - Denver, CO

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

When someone asks me if I conducted an asbestos testing, I tell them that I tested it "as best as" I could. Ba dum bump! Get it? Abestos, as best as. Oh, I slay myself sometimes. I'm a stand up comic at night and I plan on keeping the day job.

Sorry, but I couldn't help myself.

Post: New member from Colorado

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

@Amanda Holden - I wish I had said that first. But, I'll use it from now on and claim that I made it up myself.  :)

Post: Bet you've never had this question before!

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

@Ryan Sanders - My residence is in a flood plain. You can get a surveyor to check it out for you. Odds are that it won't change anything. At least you'll get some knowledge and experience that few others have, for a small fee.

As for flood insurance company, either go with the same company that insures the home or check out Lloyds of London.  LL is cheaper with less coverage, but do you think you'll ever make a claim? Unless the house is in Manitou Springs. Flood insurance is made in order to NOT cover what we think it should cover.

If the flood insurance is with a different company than who you have your home owners insurance with; then you will be manually updating your Flood insurance coverage annually. The Flood insurance must be based on building replacement value that is equal to the replacement value in your home owners insurance. And the 2 companies don't communicate with each other about this. I've lived in this house for 14 years and absolutely hate the fact that we must have it.

Parceling? Check the price on that. I was quoted $8k-$12k for removing a parcel line, thus making one parcel out of two.

The only other way to avoid the mandated flood insurance is to pay off the mortgage. Good luck!

Post: Marijuana Question from a Prospective Tenant

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

Growing cannabis will leave an odor in the house. The plants are oily. As Shawn Davis had stated, remediation would be needed.

"a landlord can prohibit renters from growing pot by including the rule as a clause in the lease. If the issue comes up after the lease has been signed without such a clause, the landlord would likely need to rely on an anti-drug or crime policy that hopefully was included in the lease.

The landlord would then need to send written notice of the lease breach, citing the appropriate clause. If the renter continues to grow plants after receiving the written notice, the landlord may attempt to evict the tenant." - Zillow.com

If you don't allow smoking, would you allow the consumption of edibles and oils? The bigger and more important issue is with the growing and/or smoking of cannabis.

Can you discriminate? Yes.  Just put a clause into the agreement. Something to prohibit smoking and an anti-crime and drug clause.

But 'should' you discriminate against the growing of cannabis in your rental? In most cases, that would strictly be a 'business' decision. Just like allowing a pet, add a premium to your rent. In your case, you and your wife plan to move into it after your child graduates from high school. In addition to the odor that is left behind, your new neighbors will also carry an opinion regarding how the landlords allowed their tenants to grow cannabis. Like it or not, the tenants may leave an impression about the type of people they signed a rental agreement with.

What about federal laws about cannabis? The 9th U.S. Circuit Court of Appeals in S.F. banned the Justice Department from prosecuting MMJ cases if no state laws were broken. The state of Colorado protects us from federal meddling. As long as we obey our state laws. 

Final point: a Real Estate attorney to can modify your rental agreement. With that being said, I am not an attorney and am in no way giving legal advice. Have a great Labor Day weekend!

Post: Hello ALL...new to this

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

@Fred Gonzalo find a Real Estate Investor group in your area.  There should be some investor-friendly agents there who could also find you your 'next deal'.

That 6% commission is split up between 2 agents. OR, if you list it yourself, the buyer's agent would get half of that which becomes 3%. Savings would only be 3% and not 6%.

And if the buyer's agent is a savvy negotiator, he'll get more out of you.

Get a hungry agent on your side and feed them!

Post: bought my first rental property, need help with flooring

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

I just finished a rehab in COS. Used HomeDepot to install it.  About 786 sq ft (87 SY) for about $1500. I could have gone with a cheaper carpet, but it was 2nd cheapest. Selected the thicker pad and it feels great. Basic installation labor was $97 plus $180 for stairs. Well worth it.

Post: Anybody Specialize in Bad Credit Score Tenants?

Carl JacksonPosted
  • Wholesaler
  • Colorado Springs, CO
  • Posts 20
  • Votes 5

A bad credit score is only one facet of the tenant. Also consider their income, debt and savings accounts. Did you ever have a bad credit score? Did it reflect who you really were? Many people were unfairly affected by the recession.

Collect 2 months deposit instead of one. 

Check if your county has a rent ceiling. Then charge a rent premium up to $150. Their bad credit is keeping them out of other rentals. You may also think about rebating $50 each month that they pay their rent before the due date.

If you want to know what kind of tenants they might be, take a look inside their car and plan a surprise visit to where they currently reside. How they treat their transportation and where they live now will give you a better picture of how they'll treat your investment.