All Forum Posts by: Suzanne Lewis

Thanks for sharing. I have been following those regulations and do hope they change (though up to 10 people per house seems a bit much too). I did have a few rental inquiries from 3 unrelated tenants for my 3 bed townhome and had to tell them that I couldn't rent to them per the regulations and it was apparent they had already been renting together in Denver so obviously, not all landlords adhere to that but I had to per the HOA especially. I would like it to change to at least a person per bedroom!

Good to hear! I love his resources! I think we need to come up with our eventual goal and work backwards to find out how REI can help us. We don't necessarily want to retire early so I think we could be fine with just two properties that could be paid off by the time our 3 and 1 year old kids are in college (basically could be their college fund). I think once we decide on our goal, we can decide which aspect of REI works best for us. My dad is an agent and has been doing this for decades and actually trying to get out and doesn't think it's worth it anymore so also a bit jaded by that perspective (I don't think he was very good at tenant screening so has had tenant issues over the years that clouded his perspective about that).

 Thank you! I have been taking a deep dive in to past episodes, very informative! I actually had a call with him a few weeks ago and know I'd work with him when planning to get our next property. We are planning on holding off til next spring or summer before we proceed so giving myself some months to prep, plan, etc. Plus in order to free up cash, we'd have to do a cash-out refi of our townhome and since its on a primary loan now, I'm hesitant to give that rate up or pay so much in points so we need to have a plan in place before we do that. 

Hi! We just moved out of our townhome in Denver in to a SFH and turned our last home in to a rental. So far, so good! I'd like to learn more about this and potentially get another 1-2 properties in the next 1-2 years to diversify our investments from just stocks. I know there is quite a bit of representation in Denver here so excited to meet with others in the area.

Where should I look for banks that do HELOCs on a rental property? We just turned our last townhome in to a rental. We have about $250k in equity and would like to have $100k open for future opportunities and as an extremely last resort EF. I am in Denver. KeyBank doesn't do HELOCs on rental properties but haven't started looking elsewhere as lots of places aren't even taking them.