All Forum Posts by: Drew Fein

@Kamaldeen Fagbayi @Dan Mackin organized a BadAss Real Estate Investors meetup on August 9, 2021.  https://www.meetup.com/BadAssR...

@Nick Elder Hey Nick! I am happy to help. Feel free to get in touch however is most convenient; my contact information is in my signature line. 

@James Carlson Thanks for the shout out! @Saul Howard I am happy to help. 

Thanks for the shout out, @James Carlson! As James said, the by-the-bedroom lease I prepare differs in many ways from my standard, SFH lease. It is also about twice as long.

Thanks for the shout out, @James Carlson! James is absolutely correct - actually filing Articles of Organization with the Colorado Secretary of State to set up a new LLC is super easy. My clients typically set up the LLC themselves. Where an attorney should be involved, however, is in the drafting of the Operating Agreement for the LLC. @Linda Weygant is fabulous! 

Thanks for the shout out, @James Carlson!  I also recommend @Linda Weygant! 

@Michael C. Actually, @James Carlson is spot on! James and Erin are THE experts on STRs in Denver.  We've seen what happens when spouses, who actually live together, claim to have separate primary residences:  https://www.denverpost.com/201.... Of course, if you're actually living separately, then that's a different story, but you still couldn't live in the third unit and STR the other two.

Thanks for the shout out, @James Carlson!

Thanks for shout out, @Dan Mackin!  As Dan said, renting by-the-bedroom is more complicated than a traditional lease and, generally, more risky.  

In Colorado, each city and/or county has its own occupancy limits. Some impose greater restrictions than others; for example, Denver only allows two unrelated persons to reside in a house. When identifying properties, you should speak with an attorney regarding occupancy limits for that particular property, as well as to determine if there are restrictions imposed by an HOA, etc. Some people do choose to continue to rent by the bedroom once they move out; however, there may be limitations on this as well (e.g., based on the loan type).

*NOT LEGAL ADVICE*