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All Forum Posts by: Tanya H.

Tanya H. has started 6 posts and replied 103 times.

Post: denver market for Buy and Hold.

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

I agree with Jon. The market is pretty tough here for buyers. It feels like a feeding frenzy these days.

I started looking at 2/3/4 plexes and just wasn't finding much that made sense.

I'm now looking for SFHs in the south, southeast Metro area and that is turning out to be crazy too. Since the first of the year, it is especially so.

Post: New Member from Denver area

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

Thanks, Jon K. When I try to go to that forum, I get a message that it's a private forum. Is there a way to apply? I know I must be missing something that I need to do, but I didn't see any way/where to request to join that forum.

Post: New Member from Denver area

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

Is there a forum for all things Denver? Or for the meetups? Just trying to make sure I say on top of things. BP has so much info that it is so easy to miss things!

Post: New Member from Denver, CO

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

Welcome Daniel! I'm also pretty new to this site, and in a quick amount of time, I've found out how wonderful it is - so much information!

And I'm sorry that I missed the meetup this past week, so I have put the next one on my calendar.

Ask questions, read the forums! I know I could get lost on this site and spend hours and days.

Post: New Member from Denver area

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

Thank you, Anson! I will be out of town this next week (I travel to Boston pretty much every other week), so I will need to catch the next one!

Post: rentals on same street

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

Interesting topic! I have 3 patio homes in a single development, and love them. They are huge cash cows. I have opportunities at buying more there, and I'm debating. I feel like there might be too many eggs in one basket, but what if they are golden eggs? Does that matter?

In this specific case, the HOA is strict, but because I own three already there, I know what to expect from them, and I'm on a first name basis with the property manager for the HOA. They are also a very financially strong HOA (I did my due diligence when I first bought in). So I don't see anything going south with the neighborhood in any foreseeable future.

So some of the comments here are convincing me to forge forward and don't worry about putting more eggs in that basket.

Post: Should I update the kitchen?

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

Mark H., I think you did good. The new kitchen looks so much better than the old one. And really, it might not have made sense to put in new floor and new paint without redoing the cabinets and countertop. Lipstick on a pig, right? So it's all new now.

Even if you didn't really get much more rent, you probably did get it rented faster, and that alone is worth it too. Not to mention it sounds as though you got a quality tenant. A quality place attracts a quality tenant.

So good job!

So Loc R., it sounds like you should research the cost. Perhaps in your area, you can also find a good deal on decent quality cabinets. The unfortunate thing is that you probably will have to replace the countertops too. The whitle tile doesn't sound bad, but I doubt they will hold up to the cabinets being replaced. And regarding the floor, you could look into getting it steam cleaned. It's not cheap, but might save you from having to replace them, if it's decent enough tile.

Good luck and keep us posted!

Post: New Member from Denver area

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

I have to admit that the pet thing was a big "a-ha" moment for me.

I have 2 dogs myself, so I always try to be pet friendly, but I wasn't realizing what a huge hinderance it can be to not accept pets. That was until I tried it with this one house. The reason was because the HOA is super strict, and the previous tenants weren't always the best at picking up after their dog. I actually think they were okay, but a neighbor was constantly complaining. The HOA would then check, and only one time did they find that the yard was not picked up. But I decided to just avoid that hassle, and go for pet-free the next time around.

As I noted, I had very little response, and I had dropped the price by $200/month, when previously I would barely advertise it and have people falling over themselves.

So I changed the ad to accept pets, and raised the rent back up, and the phone rang off the hook. So - lesson learned! Especially here in Colorado. So many people have dogs.

I also don't limit the size of the dog. Anyone who knows much about dogs knows that larger dogs are more calm and usually less trouble than small ones. A generalization, I know, but still pretty valid. So one of my tenants actually has a Great Dane - great dog, super calm!

Thanks everyone for the warm welcome. I kind of feel like I should've moved this conversation to a more appropriate forum. So, I will start perusing the other forums. I'm looking foward to learning and contributing!

Post: New Member from Denver area

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

Hi Grant,
I'm disappointed that I missed a BP summit right here in Denver. Wish I would've found this great site/resource earlier!

But I agree that we should try for a Denver get-together. I know it can be difficult schedule-wise. I go out of town approx every other week.

And it's great to find an investor-wise real estate broker. Some think they are, but I find unless they own investment property themselves, they quite frequently don't have the needed perspective. Not to say that they can't do a good job, but I've found that I have to spend more time helping them understand my needs.

And Scott, the rehab has been minimal on all of them. Paint and carpet (one of them didn't even require carpet). And then a couple of appliance upgrades.

One item to note though - I allow pets, and that has been crucial to the vacancy rate. One of them I tried to get it rented pet-free and it just didn't work - I even lowered the rent substantially and still wasn't getting much traffic. As soon as I said pets allowed (and raised the price back up), it was rented immediately.

Post: New Member from Denver area

Tanya H.Posted
  • Investor
  • Colorado
  • Posts 107
  • Votes 28

Hi Scott,
PITI on two of them is about $500/month each (with 20% down). One of them I paid cash for. Again, the HOA dues are $250/month. Two of them are 2 bed/2.5 ba, the other is a 3 bed/2.5 ba. Each has a 2 car garage. I bought two last year, and one about 4 years ago. The 2 beds are 1300 sq. ft each, with the 3 bed being a bit more.