All Forum Posts by: Jack Reed Durand

@James Carlson do you post the listings anywhere other than Airbnb to attract travel nurses? I would imagine that is where the real money is at since the hospitals are the ones footing the bill and you could probably charge more.

@James Carlson thank you! We just found some excellent looking renters for 2 months in our 2 bed condo near DTC, so we are super excited! Your answer gave us the confidence to know we are doing the right thing and pull the trigger booking them. The HOA said it just follows Denver guidelines so we should be good there. Thank you very much for the detailed response.

Hi,  

if I rent a two bedroom condo in Denver over 29 days do I need to meet any special requirements before listing/renting on airbnb?  

I dont think I need a short term rental license because I'm not renting below 29 days, and I don't need a lodgers license because I don't have four or more rooms.   

Thank you,

Jack 

I recently found out my rental condo has water damage in the bathroom from the unit above it. I believe it has been happening off and on for about two months. I called the owner and they offered to cut out and fix the drywall. I believe he is handy and can do the work.

Should I call my insurance and find out the best path forward? Or should I let him fix the unit? My number one worry is after a “visual inspection” for mold when we cut the wall out that we would then fix the walls and then it coming back to bite me later. But conversely if I let him fix it then we don’t need to get insurance involved.

This is my first rental so I’m unsure of how to proceed.

Thank you,

Jack

Thank you everyone! Based on your feedback on either the level of work, or the horror stories, I have decided to back out. 

I am looking at buying a condo. I am 100% behind buying it based on the walkthrough/numbers, but I just found out it is currently being treated for roaches. Even if the exterminator treats the property for roaches, can I be sure that the problem is taken care of due to the fact that it is surrounded on all sides by other units? I live in Denver, so hopefully since it isn’t a climate the bugs normally thrive in treating the unit will take care of the the problem. Is it typically an isolated problem based on the prior tenants habits? Or am I looking at the possibility of a systematic building problem? Is there a way to verify with the seller’s exterminator that the problem would likely be taken care of?

Thank you,

Jack

Hi Lucas,

On the even description it says 6-9pm, but then when I add it to outlook it populated as 7-10pm.  Which time does the event start?

Thank you,

Jack

On the podcast Brandon and David always talk about what you can offer to trade for mentorship/knowledge. I’m trying to figure out what skills I have to market.

I’ve been a data scientist/analyst for roughly 10 years. I have extensive experience building insightful and useful dashboards to visualize data in Tableau. These dashboards are dynamic and can break out by locations, investment types, stakeholders, or really anything an investor tracks. Tableau has a free “reader” version I can send to investors, which allows them to do everything I mentioned.

Is this something that investors would be interested in or need? I constantly hear guests talk about how they have so many investments,, deals, etc. to keep track of that I think a dashboard could be a ton of help to organize their thoughts/investments.

1. Just paid off my student loans and have $53K in a mortgage, which has at least doubled in value, if not tripled. 2. I make $145K/year. I want to explore buying a $370K dentist office that rents for $2,810 a month and is listed at a 8.3% cap rate. The HOA is roughly $300. Im hoping I can put 10% down and then refinance in the future. There are 4 years left on the lease and two 5 year options left on the property. Ideally I would have 4-14 years of consistent payments above the monthly mortgage costs, and could refinance down the line after having years of payments in the property, plus I should have more personal cash to put into the property. If I take out a loan for roughly $330K at 5% interest a mortgage calculator says I would pay $1,600 a month. If I gain $2,500 a month after the HOA payment ($2,800-$300), what other cost additions should I add to the $1,600 to figure out my monthly net that I’m not thinking of? Does the math on this property make sense? Also, what would a reasonable interest rate be to pursue given I’m a first commercial time buyer? I have excellent credit.