All Forum Posts by: Graham Northrup

Thanks Lorna. No, she did not file paperwork of any kind. She did call the police on one or two occasions, but they didn't say anything was crossing any city ordinance lines. What accomodation paperwork are you referring to?

Hey folks! Hope y'all are well.

I'm getting taken to small claims court (June 20,2024) by a tenant who is autistic and says I didn't "accommodate" her needs. She is highly noise sensitive and constantly complained that I wasn't holding her neighbors to the "quiet use" portion of the lease. Of course, we were monitoring the situations and asked neighbors to quiet down on occasions, but because they still occasionally made noise (regular household noise, not massive, all-night parties), and I didn't evict, then I'm not accommodating her needs.

Does anyone know of any special accommodations that need to be made for mental health reasons (as opposed to handicapped access, etc) that I need to know about before going to court? I have not been able to find anything to that effect in my review of Colorado's landlord/tenant law.

TIA!!

Obviously there is some truth in here, but the tone is off-putting. If you were to write a reasoned response to this, what might you say? Just curious....

@Austin Utley Private lender as a relative who had some money in a standard brokerage account that wasn't necessarily high-performing. Fortunately, since we already have a relationship of trust, it wasn't too hard to convince them to lend, and they only wanted a nominal interest rate.

We have courted others, and each has a different requirement for rate of return and terms. As @Matt Faircloth says, I made a list of people who potentially have the kind of money we would need, and started going down it. The bonus materials that come with @David Greene 's BRRRR book were very helpful in strategizing an approach to private lenders as well.

Thanks @Adriel Hsu and @Kata Walters

I have another one that will appraise and refi in the coming weeks, and will give a full report then. Onward and upward!

@Jonathan Godes Not even close. :) Lamar, southeastern Colorado. My hometown.

@Kody Bernier There's no teacher like experience! We calculated based on leaving about 10k of our capital in the property, but that ballooned to 20K based on the aforementioned issues. One of our goals is to have enough capital to invest during the next downturn, which means our priority needs to be on preserving that capital. Of course, that means we are going to have to work that much harder to find deals that have enough headroom to pull most - if not all - our money out at refi. Best of luck with your next steps!

@CJ M. We are using a commercial loan through a portfolio lender (local bank, and we have a longstanding relationship with their mortgage officer), so interest rates are a tad higher, but at 6%, we are paying PITI of 769 on income of 1100, with tenant paying all utilities. After saving for R/M, CapEx, and Vacancy, we are pocketing almost $150/mo.

@Jerrett Wilson Thanks! Appraisal was largely based on comps. We didn't go too high end on the finishes, but did everything we could too ensure systems were solid and trim was attractive.

The family we rented to got great reviews from their references (always paid, though sometimes late), and passed their background check. Main issue was with their credit score. We stipulated that if they got on auto pay for their rent we would lease it to them.

@Ola Dantis Indeed! We're definitely being more careful about estimating and looking over our contractor's shoulder a bit more