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All Forum Posts by: Donna Welschmeyer

Donna Welschmeyer has started 7 posts and replied 36 times.

Post: Denver couple face felony charge over Airbnb

Donna WelschmeyerPosted
  • Agent/Investor
  • Gray Court, SC
  • Posts 37
  • Votes 6

I'm a little late to the discussion, but thought I'd share that if you really want to read about some nightmare rent control laws, take a look at the regulations just signed into law in New York. Wowser! 

And also just my two cents worth (or maybe not even that), but while the pessimist in me would like to believe that the Airbnb regs are "just to cater to the hotel owners," the realist in me thinks about the fact that I wouldn't want the homes in my neighborhood turned into short-term rentals with different folks there every night or even every week. 

Wait, then again, with some of my neighbors, maybe that's NOT an all-bad idea! But I digress...

Hey everyone, this is an old thread, but I'd thought I'd see if anyone has any thoughts on this program from the seller's perspective. I'm being told that it's practically a "guaranteed close," (barring any major inspection or HOA issues). What do you all think?

Post: Any Waco Area Agent Investors?

Donna WelschmeyerPosted
  • Agent/Investor
  • Gray Court, SC
  • Posts 37
  • Votes 6

Thanks, everyone, for your responses. We enjoyed our trip to Waco and the surrounding areas. Spent a lot of time driving around and checking out neighborhoods. We stopped at several open houses and had an opportunity to chat with real estate professionals there. Property is priced considerably lower there than here in the Denver metro area, which we expected. Property taxes are indeed high, as some of you noted in your responses. Of course, that's offset at least somewhat by the lack of state income tax, but we're not sure yet how all that balances out. We'll continue to search and research, and do appreciate the information you shared. 

@Jennie W., we loved the McGregor area. Ate at the Coffee Shop Cafe a couple of times and had to have a cupcake from Cuppiecakes. Thanks for your offer! I'll get in touch with you if I have other questions.

Post: Any Waco Area Agent Investors?

Donna WelschmeyerPosted
  • Agent/Investor
  • Gray Court, SC
  • Posts 37
  • Votes 6

Hey everyone, we're traveling to the Waco area at the end of this week. We're exploring some areas in the southern US for retirement and investment potential. Any agent investors out there that might have time to meet for a cold beverage on Friday the 22d? We'd love to chat about the real estate market in general and the potential for SFR investment. Thanks!

Post: Newbie From Colorado

Donna WelschmeyerPosted
  • Agent/Investor
  • Gray Court, SC
  • Posts 37
  • Votes 6

@Breanna Moon, we focus on fix and flips more than on rentals, though we do have some rental properties in the metro area (one in Westminster, one in Montbello, and one in Denver). We haven't invested in condos or townhomes yet, but they usually are less expensive to get into than a single family home. Be sure to include HOA fees in your calculations (both for how much it will cost you if the unit is vacant and relative to whether you can get enough rent out of the unit to get your desired return with the HOA fees included). We're always happy to talk to anyone who's interested in flipping. We do it on a much smaller scale than many of the investors here, but we're also "in the trenches" doing a lot of the work ourselves, managing subcontractors, hauling supplies, so we have a very hands-on perspective. I'm also a licensed broker, so I get to learn a lot about what buyers and renters are looking for from inspectors, appraisers, and other agents.

Like everyone here, I'm happy to answer any questions you have--and I'm always up for learning something new from everyone here, too! 

Post: NY Property Management Requirements

Donna WelschmeyerPosted
  • Agent/Investor
  • Gray Court, SC
  • Posts 37
  • Votes 6

@Randi Plevy, thank you!

Post: NY Property Management Requirements

Donna WelschmeyerPosted
  • Agent/Investor
  • Gray Court, SC
  • Posts 37
  • Votes 6

Any New York property management experts out there? I've read that an individual who's a landlord's  employee and who performs property management tasks for a single landlord (including rent collection) doesn't have to be a licensed real estate professional. I've also read that ANY property manager that collects rent must be licensed. I've not been able to find this specific information anywhere, but I could be looking in the wrong place in NY law. Does anyone have a definitive answer or could you point me to supporting statute? Thank you!

Post: Newbie From Colorado

Donna WelschmeyerPosted
  • Agent/Investor
  • Gray Court, SC
  • Posts 37
  • Votes 6

Welcome, Breanna. Good luck getting started with your real estate investing career. Just one piece of advice from me: No matter what you're buying, buy it right. If you buy too high, your ROI, whether using for a rental or flip, is compromised. There are TONS of amazing folks on this site and in the general industry. I agree with what others have said about networking. Ask lots of questions!

Post: I need feedback please... Looking into mentor/coaching programs!

Donna WelschmeyerPosted
  • Agent/Investor
  • Gray Court, SC
  • Posts 37
  • Votes 6

@Account Closed, thank you for clarifying that. I will call you at some point soon; would love to talk to you! I appreciate your willingness to chat.

Post: I need feedback please... Looking into mentor/coaching programs!

Donna WelschmeyerPosted
  • Agent/Investor
  • Gray Court, SC
  • Posts 37
  • Votes 6

@Bill S., We actually heard this from one of those "real estate gurus" at one of their free seminars. :) I know that as a seller I certainly wouldn't accept that kind of contingency. I did not realize the broader protection that the inspection contingency provides. I was under the (mistaken) impression that as a buyer I had to at least indicate to the seller what items I objected to. Thanks for your reply!