All Forum Posts by: Kimberly Gillock

@Jerry W. Totally agree!! A legal investment is the best investment, but this law is just meant to protect the hotel lobby.

@Domenick T. Thanks— yeah, that seems to be my same situation! So frustrating.

@Greg M. Thank you for your reply! I kind of figured that was the case, but good to hear from someone with experience!

Hi!  Does anyone have a recommendation for an accountant in Denver, CO?  It's just my personal finances (uncomplicated) and 4 buy and hold investments (2 in colorado, 2 in oklahoma).  Real estate experience preferred, of course!)  Thanks so much!

For those of you who own properties in HOA's, has anyone had experience with a "lease maintenance fee" imposed by the HOA? If so how much? How did they justify charging this fee (ie-- what is this money actually going towards?) Just curious. Thanks for sharing your experience!

@Dennis M. Just wanted to see if anyone out there had experience with anything similar. But like I said... probably not something I would ever really feel comfortable with!

I have two properties in Denver in one LLC and two properties in Tulsa in another LLC. Each property has it's own bank account, credit card and I find that it keeps it easier at tax time. I make sure to go through any expenses for both LLC's once a month and categorize (via Mint.com, so I know which expenses are for which property) and it makes it much simpler at tax time! I don't know if you need to have one LLC per property-- overhead gets pricey and it's also a big pain making sure everything is bueno with the Sec of State.

I guess I've gone down the middle road of not having all properties in one LLC and also not having an LLC for each property. I feel pretty okay about it, but it's partially about your comfort level and risk tolerance (and probably the value of each property). Also, if you are financing these properties, the bank has the first lien, so it would actually be tough to sue you for much if you still owe a decent amount (as I understand it! please someone correct me if I'm wrong!) Good luck and congrats on your next property!

@Johann Jells it would be like maybe 50% of the time when they are traveling for work.  If it was like one time for vacation, I guess I wouldn't mind so much, but it would be an stream of people.  Thanks for your input!

@Peter M. Agree. Not sure what the liability issues might be here and don’t really feel like liking into it, honestly. Def not my desired situation. Thanks for your reply!

@Nancy Sathre-Vogel Airbnb does have a pretty good coverage for damages but.... it’s not an easy process and they like to take the side of the guest. Just makes me uncomfortable. I knew the answer to my question before I even asked it. Thanks!