All Forum Posts by: Susan Pompea

Hi Joshua,

I've been researching the same thing, but for my home. I've decided to go with Ooma (http://www.ooma.com ). I'd pay for the equipment up front, about $100, then my only fees would be for taxes, less than $4 per month. I have DSL internet in my home that wi-fi runs off of. I'm not sure how it would work with only wi-fi. I'll be interested in what other people have to offer on this.

Enjoy the home your living in. You plan on staying for 5 to 10 years. The other bathroom has a tub--do what you want. That's the joy of owning your own home. Who knows what will happen in 5 to 10 years--in the housing market and in your life. I do know if you don't do anything, down the road ( if not now) every time you use the cramped shower, you will be thinking about that nice, big, tiled shower with seating and how wonderful that would be. Don't have regrets, enjoy your life now!

Hi Rob,

I've lived in Colorado Springs most of my life. My father was a real estate broker and own a number of singe family homes. I only have one rental (right now). I think Kimberly's assignment of areas to avoid is not very accurate. You would miss out on a number of good homes, safe areas and great deals.

---My advice is to start off slow. Duplex, fourplex or single family homes and manage them yourself. I have learned so much during the past 4 years--and I've made plenty of mistakes.

Why not buy a rental home close to where you live? You know the area, you know the good sections of town, you know what houses sell for and also what they rent for. Get your feet wet, then if you want, put big bucks down in Colorado Springs.

Personally, I love downtown and lived in an apartment in an old house for over 10 years. Colorado College is "land locked" and buys up property around campus and then, through a management company, rents it out. Students are required to live on campus for their first 3 years. My rental is a tract home near Wasson high school.

I envy you. A pocket of money looking to invest. I see some wonderful deal in Colorado Springs.

I think given your location (Brooklyn, New York), you made a positive decision. In many other parts of the country, people hop in their car and can drive to any number of day care centers but when you live in the city, choices are often limited. I'm glad it worked out for both of you.

I told the neighbors that I had just rented the house to a young couple who had one dog and no children. They told me that they'd rather live next to a dog or cat than a house full of kids.

Hi Scott,

Welcome to the Springs! I have one house that I'm renting and I've learned so much in the past 4 years. There are lots of good investments. When are you coming to the Springs?

Thank you for serving our country and giving up so much to do so. You must be excited to meet your son for the first time.

I've been looking for some real estate investors to meet and discuss problems and well as successes so we can learn from each other. I learned so much from my last renter--I had to evict him and learned alot from the process. I'm not planning on making the same mistakes twice---especially when there are so many new ones to make (hopefully not--that's why I'd like to meet other investors who are learning what to do, as well as what not to do).

When you get to town, spend some time with your beautiful baby boy and get to know him--and take you wonderful and patient wife out for a nice dinner.

--Sue

Hi Dean,

I'm a cat person so I would and have let my tenant have a cat (or a dog). I would require the cat would be "fixed" (spay or neutered) as well as current shots. That is going to take care of 90% of any potential problems. I would charge a pet fee of $100 per cat (I think 2 cats are easier to take care of than one--they don't get as bored). My own cats do not pee on any floors or tear anything up.

When I was young, I had a kind landlord that allowed me to have a cat--it made all the difference to me. I was going through a depression and that cat saved my life.

--Has your tenant had cats before? Then they probably know how to take care of them. They asked up-front, instead of trying to sneak a pet in. A plus. They have been there a year and paid rent on time. People have caused the most damage to my rental house--not their pets.

Hi Zach,,

I just had verbally abusive tennants so I know what your goung through. She started this when they were late on their rent. You might want to think about telling them, "You don't seem to be happy living here. Why don't you start looking for a new place so you can move out by the end of February. I'm really sorry that it hasn't worked out." I would then follow up with a letter giving them their notice. You're documenting it just as I would. Whenever I talk to any tennant, I jot down the day, time and what it was about. Good idea to save the voicemail. Don't get sucked into their drama. They will keep doing yelling at and making fun of you because it has worked for them. They are a bully that you don't need to deal with. Do everything by the books because they probably have experience with the court system.

The furnance and it's heat just doesn't keep your tenant warm, it keeps your house (and pipes) warm. Do you want to deal with frozen pipes, pipes that burst and flood the house with water. once it warms up? I know it's frustrating and your angry with her, but do the right thing.

Have you asked her if she has insurance? Usually she must show and maintain proof of insurance in order to keep her daycare license. Most daycares must maintain extensive records, including financial and must send them in monthly or quarterly.

What's the hurry? If she shows you proof of insurance and her lease is up soon, why not wait? Will her lease go to a month to month? Why not set up a time to introduce yourself and talk to her? Don't just stop in-- she is busy watching the kids and will be distracted. She will probably welcome a chance to talk to the new owner. If her lease is not going to be renewed, she will be losing her home AND she will be losing her business, career and income.

If insurance is your only concern with this tenant, ask to see proof. This is not a babysitter, but a professional daycare provider and small buisness-woman. The day cay can be inspected at any time and has a very strict guidelines. A lot of people do not go through the licensing procedures-the fact that she did says a lot about her. She has been fingerprinted and has gone through background checks