All Forum Posts by: Kyle Doney

Whats your process on cleaning and repairs on their way out and before the next tenant comes in to eliminate any days vacant? 

Exactly what you need to do. He's spot on. 

Now he cleans up the mess and moves forward. He will likely have no recourse with these tenants. Sometimes this is unavoidable, but with really strong screening and checking on the property periodically your odds go up big time. My first tenants did this to me. Came down to me not screening well enough.. 

I've used a VA (Veterans Affairs) loan on 2 properties now. Great loan program, highly recommended if you have the ability. They cover almost everything. You can use it for up to a 4 plex. Find a lender that knows them well and MIH.

A lot of it depends on your area, price point of the home, money invested, scope of work, etc. Theres so many factors to give a number like that. If its a lipstick carpet paint, in and out, I'm sure he'd take much less. Full gut job, better be making some dough to deal with that. I think a lot of guys look at the ROI before getting in too. Everyones different and it depends on the job is really what it comes down to.

** DENVER DEAL**
Opportunity in up and coming Lowry area for a fix and flip or rental. Major value add potential by finishing the 780 sq ft basement. Basement has egress windows there for you. You could keep the house AS IS and rent is out or flip it. We will be having a showing this weekend. 

• Built in 1951: 2 Bed / 1 Bath – 1560 sq ft. (with basement- 780 above grade)
• Full unfinished basement to add living space / bedrooms
• Hardwood floors
• Ally access, so you could convert the 1 car attached garage into more above ground living space and add a garage behind the house
• ARV Estimate: 300k with basement, 260k without
• Fix Estimate: Rental: $0 Flip: 40k 

Pics & More Info ---> HERE

To be added to our wholesale list click HERE

Bringing this one back again because I'm searching for similar info. My rentals are in my personal name. Can I collect the rent payments to my flipping businesses LLC bank account and write checks from that account, pay bills related to my rentals, etc?

As far as I know, you can put personal money into an LLC with no issues. Reason I do this is because it lumps all my real estate stuff into one account and is easier to keep everything in one place. Input?

I haven't had to do a co signer for any leases in the past. I found some co signer templates online, but wondering if anyone has one they could share that is solid? 

Also, do you put anything in the lease itself referring that there is a co signer or do you simply have the co signer form filed out? 

Any do and donts or other input appreciated. 

@Ryan Jones Its possible, you just have to find the deals. I have properties in Greeley, Fort Morgan, and even Denver that all meet the 1% rule and some 2%. Be patient and buy the ones that make sense. Flip the rest and build cash for down payments.  

@Ilona Davidovich I don't think it will be as simple as just putting up another water meter. Someone correct me if I'm wrong, but I believe you would need separate water service to each unit. Aka separate water taps, separate water lines, and completely separate plumbing. Thats not going to be cheap or simple..