All Forum Posts by: Michael Wentzel

@Taylor O'Leary

Welcome to the BP community. I learned about 95% of what I know from BP. If you have time, listen to the podcasts as well.

And welcome to the Pueblo market. We have been very active in buying and renovating properties there over the last four years. Prices have started to go up, so it might be a good time for fix and flips. 

Mike

@Robert Herrera

Great to hear your update. I'm glad you're doing well in the Pueblo market. We have 19 properties there with 26 units and love the market. Low property taxes. High demand for rentals. We have a great team on the ground.

With your lease options, how long do the tenants have until they have to pick up the option to purchase? Have any of them done that yet?

Mike

Hello everyone,

If you have a portfolio of single-family properties, do you always have to track the income and expenses by property?

I'm pulling together my numbers for my partnership tax return and it is a pain. We have 25 units spread over 19 properties... which means we have 19 property tax payments, 19 loan payments (per month), 19 insurance premiums, etc. Much of it is my own fault because I don't have a good accounting system in place. (I am now getting Quickbooks online setup, so we should be good to go in the future.)

But I also had a dream that once I had a partnership I wouldn't have to break-down all the income and expenses by property for the tax return each year. My tax accountant is telling me that we still need the break-down of the income and expense by property to file the partnership return. Is there no way around this?

Mike

@Zachary Wilson

I had a good time meeting @Jason Eberhardt that evening. He is active in Pueblo and is a good resource. @Sam Dangremond planned to join us, but couldn't make it at the last minute. He has also be actively investing in Pueblo for a few years. I won't be around again until next summer, so maybe we'll try it again then.

And now I can highly recommend the fish and chips at Shamrock Brewing Co. It was a great place for food and beverages.

Mike

I thought I posted on here already. Maybe not.

We're going to meet at Shamrock Brewing Co. in downtown Pueblo. I'll be there from 4 pm until 7 pm. Looking forward to seeing some of you today.

Mike

Okay. So a few of us are going to get together on Tuesday, July 18th from 4 pm until 7 pm at Shamrock Brewing Co in downtown Pueblo, CO. Come if you'd like to chat about REI investing in Pueblo with a few people who are actually doing it. Beginners are welcome.

Mike

Okay. We are going to meet at Shamrock Brewing Co. I think they are close to downtown. I'll be hanging out from 4 until 7 on Tuesday, July 18th. Jason is coming at 4 pm and Sam is planning to show up around 5:30. Others are welcome to join us to chat about REI in Pueblo.

Mike

@Bill S.

Thank you for the hint. I think I have successfully posted the event now.

Mike

A few of us from BP who are involved in Real Estate investing in Pueblo are trying to get together this Tuesday, July 18th from 4 pm until 7 pm. Location will be in Pueblo, but the exact venue has not been chosen. We will chat about the market, struggles, successes, contractors, attorneys, property managers and all things focused on Real Estate investing in Pueblo. Three of us from the local market are confirmed so far, but we would love to have others.

Mike

@Bill S.

We have set a time now. How do I post an event in the meet-up section?

Mike