All Forum Posts by: Charles Helaine

Why not go with a management company? Does she really have time to deal with tenants on her own?

Most charge around 10% + tenant finding fee (couple $100) and it is worth it if you have a day job.

Sorry if it doesn't really answer the question.

Quite frankly I never understood the "Open House" concept if used to sell or rent directly. Lot of time wasted for tire kickers and passer by. Having a first contact on the phone then a face to face meeting to see the house is, I think, better.

It gives you a feel for the people before going through the qualification process. Process that might not be necessary for the "discarded ones" if she asks the right questions (about jobs, partying habits and such)

The main benefit is the dichotomy between the LLC and you....

If, god forbid, you were to buy a really bad house or the market crash again or you get sued by a tenant, only the LLC assets would be on the line...not yours.

Hi everyone,

A few days ago we learned that a property that we were interested in ( as in spent almost 2 month getting quotes and putting together the financing etc...) will be put on the auction block but the owner without warning to us and after having it sat there for 5 years.

We transferred money to be able to get the earnest money (5k) as soon as we could but after talking to the bank it seems like we won't be able to get the money on the account in time. The bank won't extend a line of credit for it so I was wondering if anyone knew of a quick (as in auction is tomorrow the 24th) way to get a 2hours long loan (if we don't get the house) or at most 1 week long (if we get it).

We still have paymenst on the car so pay day loans are not an option.

Pueblo might be in range but I have not checked on that market.

BV is really beautiful and we are fortunate to be here.

BV has a weird market. Some people think we are Aspen as far as sale price with houses sitting on the market for years (some properties are still on the market after 8years...I kid you not).

We also have a the college rental market, long term rental market and tourists market.

For now we will be looking in the High Rockies to keep it close.

We won't be looking at ready to rent but most likely fixer uppers as the prices around here are pretty high.

Hi,

My name is Charles, I am a real estate photographer from Colorado.

Married, 2 kids one dog...

Our first foray into real Estate was, hummm,,, how to put that...unsuccessful with the renter (800 miles away....bad bad idea) basically rendering the house inhabitable because of mold issues.

So now we are trying to get into rentals that are a little closer to home.

Thanks Chris for the option I will bring it out with a new lawyer that actually knows what he is talking about.

Interest only for 5 years with payment of the principal +5% after 5 years.

I did not know about the SAFE act.....which ticks me off because the real estate lawyer I talked to never mentioned it.

I do know the people I want to bring that to.

Hi,

My wife and I are looking into buying a piece of property that can be made to be what we need (we have very specific needs because of our business and special need child.)

A conventional lender is out of the question as our credit score have not recovered yet from a hellish 4years of multiple surgeries, a move from Texas to Colorado after the big economic nose dive and a tenant that basically rendered our former Tx house inhabitable.

We were wondering what type of ROI a private lender might expect. We were thinking of structuring the loan as a term loan with a return of 9% per year for a total of 50% return over 5 years.