All Forum Posts by: Peter Schuyler

Hello @Scott Elkins, are these meetings still taking place in Montrose? I just moved to Ridgway a couple months ago from Denver and work in Montrose. I'd love to get in on meetings in the area.

I moved to Ridgway in October 2017, and I'm looking to meet others. I normally work from home in Ridgway except for travel occasionally. Anytime you want to meet for coffee send me an connect.

0 Votes

Originally posted by @Ned J.:

On this forum, you are likely to get about 90% of the people saying to reinvest the $$....you will get way better returns than paying down a 4% loan. Which is likely very true if you do the right thing with the $$ and can tolerate some risk....risk that includes losing $$.

Go to a Dave Ramsey or Suzy Orman forum and you will get 90% of them saying to pay off your debt.... its a much lower yield on your "investment" but very low risk.

It really depends on your risk tolerance and what you want to do...what is your goal? If you want to expand and generate more and more cash flow then you keep leveraging and taking on more "good" debt that pays larger rewards.

If you can pay off your mortgages quickly and own the properties outright and the cash flow from them will be all you need to reach your financial goal, then that may be the best path for you

If you want to build wealth, invest the $$

Great summary, sometimes we just need to be reminded of the obvious. Thanks for your reply.

0 Votes

Originally posted by @Scott Elkins:

Hi folks,

I am a broker for "Telluride Realty" but more importantly an investor in the area with many rehabs and BRRRS under our belts.

We are trying to get some team members in place and want to help out other investors in this area, the western slope!

We are going to Have our 1st meeting in Jan 2017 and just wanted to start building the lists and expanding our contacts.

Please PM me if you have any questions. It will be a free event.

Also if anyone would like local info in the mean time, just holler. I can get you plumbers-electric guys or handymen in this area or verified property managers. I can supply rental data also for your spreadsheets.

We also have other investors that will lend short bridge loans in montrose colorado or even us if we like your deal!

Email for more info on anything on the "western slope" south of GJ !

Note: feel free to check the assessor page for info on our sales to verify us,if you like , as we have bought/sold over 25 properties in the 3 counties in the last 12 months. (and just closed/sold two flips that we completed thanksgiving week.) I can PM you our LLC names and properties.

Cheers have a great week!

Scott

Hello Scott,

Are you still looking for local people, I'm in Ridgway.

0 Votes

Originally posted by @Allen Underwood:

Hi Teague,

It's a small town. about 2500 people, built by Chevron. Despite the oil craziness, its survived and has done fairly well. As an investor,, you don't have the ease of everything just being there, but it's definitely doable if you're creative. I have to give credit to the podcast on long distance real estate investing. There was a lot of good information there and in the book that made this possible for me.

As for deals, I found 2 HUD REOs out there and got them with quite a bit of profit left in them.

Just curious how you find HUB REO's if your willing to share.

0 Votes

I'm an investor living in Ridgway, always looking to network with people, and "No" I do not have properties in Ridgway that are rentals, nowhere close to 1%, but looking to scrub the Westernslope for a deal. There was duplex in Montrose on the retail market, but the numbers just did not work.

0 Votes

This type of question may have been asked in the past.

If I have 50K in cash to invest outside my retirement.

Is it better to pay down the liabilities on my rental properties that have mortgages at 4% or invest in another property that generates 8% cash on cash and use that money to pay down all the debt, including the new mortgage it will have?

I think I know the answer, but curious what others might do with the 50K. Some say accelerate paydown, others say debt is cheap, so buy another property with the 50K as down payment, borrow the difference and keep going.

0 Votes

Originally posted by @Chris Clothier:

@Kyle Scholnick

Key questions to ask a Turnkey company. Pay close attention to the answers they give you and take notes. If they do not want to give you the time to answer your questions, then you do not want to do business with them. If they are irritated by the questions, definitely move on.

These are the KPI's that any quality turnkey company will measure and track and should be able to give you an accurate and correct answer at any given time. If you pay close attention to the answers, you can do simple math to determine if they were just giving you answers you want to hear to sound smart or if they actually know how their company is performing for clients.

•Are You an Investor? Do you own in the exact neighborhoods you are selling?

•How many investors do you work with?

•Do you own all facets of the operation?

•Do you offer rental or maintenance guarantees?

- IF they answer yes, ask them why? And then ask them if they will put the guarantee on year three. Guarantee are used as a sales technique and should be a red flag for an investor.

•Do you defer maintenance?

•How many properties do you manage?

•Do you own the properties you sell?

•How long have you been in the business?

•What is your average vacancy rate?

•What percentage of expiring leases will renew their lease each month?

•What is the average number of days a property is vacant between tenants - Move out to move in?

•What percentage of billed rent do you collect each month?

•What is the cost of an average repair bill after move-out?

•What are your management fees?

•What percentage of collected rent goes to yearly maintenance on average?

•What is your average # of months occupancy per property?

Three most important questions you can ask to learn a little about their mindset as business owners and how they are going to treat your investments:

•What programs do you have in place to keep tenants happy?

•What customer service programs do you have in place? Will you call me every month with an update on my portfolio? How many team members are dedicated solely to providing service to your clients?

•What has been your biggest mistake as an investor? How do you protect your clients from making the same mistakes?

I really like these questions, but as a investor, I thought the first question would be what are your typical investor Return on Investment numbers or Cash on Cash numbers?

0 Votes

Originally posted by @Sarah Hale:

@Greg P., I have a GC company that is very investor friendly and I also have an electrician that has done some great work at reasonable prices. Send me a note and I'll give you their contact info and more details.

Im looking to have two bathroom exhaust fans installed in Prosper, TX. Both electricians that I have looked at the issue say they will not install the insulated vent pipes from the fan through the roof, as that is a different sub. Would your GC be able to have someone install the bathroom exhaust fan, wire, it, and install the pipe to the roof and vent on the roof, a complete job?

Pete

0 Votes

Dallas, Texas

Originally posted by @Justin Stanfield:

I will give you the best roofing deal, if that is what you are looking for.

Justin,

Do you guys install bathroom exhaust venting in an attic, vented through the roof?

Pete

0 Votes

Dallas, Texas

Originally posted by @Travis Smith:

Hi guys,

I'm about to lease out my first property and I'm looking for some guidance on some lease details. I'm wondering what the standards are when it comes to pets (deposits, fees, etc), lawncare, security deposits, etc. We know what we're thinking personally, but would love some insight into what other property owners are doing in Austin.

Thanks!

Have you looked at the standard texas leases online?

https://rentallease.net/texas/texas-residential-lease-agreement/

0 Votes

Austin, Texas

All Forum Posts by: Peter Schuyler

Peter Schuyler has started 18 posts and replied 208 times.

Post: Western Slope of Colorado Real Estate

Post: Extra 50K better to pay down a Rental Mortgage or Re-invest

Post: Western Slope of Colorado Real Estate

Post: Western Slope Recommendations

Post: Western Slope Investing

Post: Extra 50K better to pay down a Rental Mortgage or Re-invest

Post: Questions to ask Turnkey Providers

Post: Building DFW Contacts / References

Post: Building DFW Contacts / References

Post: Lease Details - Pets, Deposits, Lawncare, etc.