All Forum Posts by: Kenny Smith

@zach dasbur

Great question.  I have not experienced owning a property with an elevator, but your first call should be to your insurance agent!  See what is in your landlord policy, and ensure there are no exclusions for something like this.

They can best walk you through your options and how ensure you have ample coverage.  Good luck!

@Daniel Baran

I have a guy that myself and my real estate team of investors use.  Not sure if he's taking on more clients, but can always ask!  

DM me, and I can send off his information.  And I can't recall exact numbers of what he charges, but something to ask.

@Hoa Nguyen

I don't have much from a technical standpoint, but a couple things to consider.  One, take a look at the comps in your neighborhood to see what other properties with pools are selling for.  Depending on your area, it could help or hurt the value of the home.

Also, from an insurance perspective, it is important to understand what additional insurance would be required to have a rental with a pool.  I am not sure, but some carriers may not insure a landlord policy with a pool.  I'd recommend talking to a local insurance broker to get more information on that.

@Asare Nkansah

I am not sure he is taking on new clients, but this is the guy we use and he's great!  Steve Fradin @ Muirfield Accounting.  DM me for his information.

Feel free to drop my name at The FI Team w/ eXp Realty if you do reach out.

@Thomas o'donnell

I am from Columbus originally, what part of Columbus?

If you are struggling to rent it out as an LTR..are you close to any hospitals by chance?  You could look into possibly doing an MTR (medium term rental) and cater to travel nurses if so.  You would have to spend the extra money to furnish the property, but you can also ask more in rent.  I'd check out furnished finder.com which is the site most travel nurses use to find MTRs.  Also look on there to see other comps in the area and message them.  Ask them how their MTR is doing?  If they are a reasonable person, they will help you out.

@Jacob Reeves

Certainly not an attorney, but I would definitely call the building department of your municipality and ask about this.  If you aren't getting anywhere, I would definitely recommend at least chatting with a local real estate attorney to have them provide you more information on what can be done.

Xu Som,

Did the property get an inspection completed and sewer scoped?  That is the buyer's responsibility to conduct a thorough inspection and object to any items they'd like to be fixed, a credit for, etc.  If so, were any of the items noted on the inspection report?  If not, you may need to have them call their inspector because they missed a lot of this and see if they can offer to do something for him.  Most good inspection companies have you sign a contract that states they are not to be held liable for any issues that do come up though.  

If the seller filled out a Seller Property Disclosure, but did not mention any of the above, then MAYBE you could have something.  You have to be able to prove they had knowledge of the issues which can be very difficult.  If that truly is the route you want to head down, consult a real estate attorney.

Hi Eric,

Not sure if she's taking on more clients, but you could always ask!  She primarily serves the northern part of Denver, Westminster, Arvada, Thornton areas.

I'll send you a private DM with her information!

Total Active Listings - 7,042

Total Coming Soon Listings - 101

Average Days on Market - 27

Median Residential Home Price - $570,000

List to Close Ratio - 99.3%

Heading into the winter/holiday season, it will be interesting to see what rates and the offseason does to the market.  The market has come a long way since the peak in April which brought median home prices at $615,000, and average days on market of 9.  

30 Yr Fixed - 7.07%

15 Yr Fixed - 6.50%

30 Yr Jumbo - 6.05%

30 Yr FHA - 6.62%

5/1 ARM - 6.79%

Also, Fannie Mae just released their "2023 Rate Projections", and they say rates could go down as low as 4.5% next year (https://www.cnbc.com/2022/08/2...).  If you're able to find a deal now, albeit at a higher interest rate, you could always refinance when rates drop.  The buying pool is still very large!  Once rates drop again, buyers will become active again which could continue to push home prices up.  Especially during the holiday season, there will be deals to be had.