All Forum Posts by: George Ganis

Can anyone recommend a certified home inspector that you have used in the northeast Dallas area?

It would be great to get independent recommendations from agents or investors, not directly from inspectors themselves.  

Thank you

I would like help thinking through the impact inflation will have on my buy and hold returns, specifically when financing with an adjustable rate mortgage.

I am thinking about bundling some SFRs into one package and refinancing so I can pull out as much of my investment as possible. It appears that most lenders that offer these loans provide only variable rate loans, so I am concerned about how inflation will impact my bottom line over the long run.

When inflation does rear its ugly head again and ARM rates increase, do you think the incremental mortgage payment can be completely offset with inflation adjustments to rents?

I am trying to think through the sensitivity inflation will have on both pieces of the equation. What impact will a 1% increase in the rate of inflation have on my ARM – will the rate increase by 1 point? I am trying to figure out if a 1% increase in rents will cover that incremental cost so net cash flow does not take a hit over the long haul.

It would be great to get some insight from some loan experts.

Is anyone else still having issues?  It crashes most of the time.

Hey there @Ben L.

In searching old Colorado Springs posts, I found this one from last year. I'd love to get an update on what you came up with.

Did you have any luck with leads to build your investing team? I too am looking to build a team to invest locally.

Did you find a good source of data for the local Real Estate market?

Also wondering if you ever attended any of the local REIAs? Which ones did you visit? I'd like to attend a few so I can to meet local investors and network.

Lots of questions - would like to hear how it worked out for you.

Hello BP community - I am looking for a recommendation for a lawyer that specializes in setting up entities (LLCs / Limited Partnerships). I live in Colorado Springs, but the south end of Denver works also. I am sure there are quite a few out there, but I would like to work with someone with a warm recommendation. It would be great to get a few that I can interview.

Thanks in advance,

George

@Jon Holdman can you clarify the difference between what the IRS considers a depreciable life and my right to go back to a tenant that ruined my carpet. Although it was more than 5 years old, it was in really good condition before they moved in. I have $2,500 in security deposit and the carpet will probably be about $4,500, leaving me $2,000 out of pocket. (The carpet is damaged in every room.)

Do you have any idea who in Douglas County I would contact to get an answer?

Thank you,

George

Wow - thank you all for your responses - I came back from work today and found all these great notes. I'll start from the top and work my way down.

@Jason Fraser - thanks for the REIA idea - I'll do that

@Jon Holdman - I just purchased the house and assume the carpet is well over 3 years old. The prior owner took pretty good care of it so all the damage took place with this tenant. Thank you for educating me on this, I thought I could go after him for any amounts over the security deposit. Are you suggesting that I cannot even keep the security deposit to offset the cost of replacing this carpet?

@Bill S. - Thank you for taking so much time to provide such a detailed answer. As I mentioned to Jon above, I had intended on going after the tenant, but it is Jon's opinion that since it is over 3 years and therefore fully depreciated there is no value to go after him for. I also appreciate all your other tips. By the way, I read your reply to my wife - we both got a kick out of the marital warnings!

@Marcia Maynard - I do intend on itemizing the list of repairs, I hope to get to my county's laws regarding the amount I can get the tenant to pay.

@Matt M. - I sent you a private message to get your recommendations - thanks.

I am a relatively new landlord and need some guidance and a couple of recommendations for my rental house in Parker, CO.

This was my first tenant and boy did they do a number on the house ,they left it a mess. I am going to try to do some of the repairs myself. For the things that are more than wear and tear, how do you all determine the amount to withhold from the security deposit (i.e., since I am not paying someone else to do it)?

For the things I do not plan on doing myself, If you have any tips / leads on the following, it would be greatly appreciated:

1. Carpet - it is stained beyond cleaning. Any leads on where to pay less? Do you all just purchase the cheapest, or is it worth investing in something sturdier? Where do you buy it?
2. House cleaning - I need someone who will scrub grime off the walls etc, not just dust and vacuum - any recommendations on the south side of Denver?
3. Painter - the entire inside of the house.

Thank you,

George

I love them, keep them coming. I listen on the treadmill in the morning. One hour is perfect. My only recommended change - do not sing quick tip! :)

Thank you Brandon, I did set up some alerts.

Plans going forward - lots of learning, I hope to move down the learning curve as quickly as possible and either wholesale or flip to get started.