All Forum Posts by: Brian Bohrer

Hey Simon!  Welcome to the Springs!

The suggestions by Nathan and Tanner are great places to gain knowledge and insight for what you need to watch out for with tenants in Colorado.  I would also suggest talking with an attorney.  They generally won't charge you for the initial phone call and they could create a fillable, conforming lease pdf that could be re-used over and over again for all of your properties.

I went this route in Nebraska where my first rental is located.  I wanted to add in a clause about kicking back $50 per month for any month where I was not contacted for a service call/repair.  This is not a common thing you will find in those pre-made leases and I was not confident enough in my linguistic skills to add in my own clause, so this was the best route for me!

I wish you the best on your adventure in Colorado Springs, and please feel free to reach out if you ever need anything!  Take Care,

Great Information! 

I live in Colorado Springs, there are 5 military bases here.... What is the best plan of action for a new agent in a new market to take advantage of this demographic?   Thank you in advance for any information you can provide!

Take Care,

Hey Matthew, 

Have you tried getting involved with financial independence groups, bitcoin meetups or starting your own niche investment group to find more leads?   I have seen many agents in my area find success by creating "new to the community" and job market groups on Facebook to generate leads as well.  May take a while to get going, but once it is set up these could provide endless leads for years to come!

I wish you the best!

Hey Vee,

I currently LTR one property and do some Airbnb in my primary residence but have only utilized furnished finder for my MTR research.  We plan to MTR this house to nurses and military in the area once we move to the next primary.  I have heard others using rent.com and apartments.com to get a feel for what pricing should be, but you could also set up an account as a landlord and see what you can catch!

I wish you the best!

I agree with Tom,

I would ask for concession to cover the 100Amp panel replacement/upgrade.  It is true that maybe 60Amp is sufficient for the current appliances and HVAC but if you were to ever upgrade appliances or add in central A/C you would have to replace the panel at that time.  I purchased a primary residence without considering the 100Amp service and the fact that the panel was already full without any room for additional breakers.  The panel is newer but all junctions are utilized and now to add central A/C I need a second panel and have been strongly advised to upgrade to 150Amp service at the same time to be better prepared for future additions.  

As for liability, the inspection says it is all working, just recommended to replace.  I would not worry about this if you decide to buy as-is without concessions.  Just be aware it is something you will need to address in the next 5 to 10 years most likely.  I wish you the best!

Hmm hard to say for sure, but smells tend to "stick" to porous surfaces.  Primary targets would be carpeting, curtains, walls, or possible water damage where you can't see behind a wall or under the floor.  I wish you the best in your investigations!

 Hey David,

So far, so good on the long distance rental.  It was my primary residence up until 6 months ago.  We have kept up on maintenance and we just renovated the lower level and upgraded the plumbing so we do not anticipate too many issues, but you never know what tomorrow brings when you have a 60 year old house! haha

In 2023 I want to sell 10 houses and make a foothold in the Colorado Springs Real Estate Market!  I am a new real estate agent, just licensed in early October and have been diligently networking and growing my database in a new market. I am also an investor who plans to add 2 more rentals to my portfolio in 2023, one long distance LTR back in Nebraska and one primary residence house hack (hopefully a duplex) in the Springs!

I wish everyone the best with your goals this upcoming year!

This sounds like a perfect fit for the "new" Airbnb algorithm, where they seem to promote the unusual stays at a premium over the traditional.  Very Cool!  Although, as others mentioned, without a decked out lot and other amenities it could come off as an underwhelming cash grab from your tenants.  If you can make it a genuine experience of some sort with a theme, then I think you really would have something!  Maybe a cool lot with a view or a campground feel could work?  

There are so many different personalities out there with different needs, I am sure you would have tenants, but how many and how frequent would be a concern without some broad appeal that brings in a variety of personality types.  I think it would be easier to sell if it was me, but I am sure with the right marketing and design you could make a killing!

I wish you the best!

Welcome to your new Investment Family @Nate Saenz!

You are definitely on the right track for beautiful views and appreciating real estate if you are planning to head to Colorado!  I moved to the Colorado Springs area back in May and have had the pleasure of taking in majestic views of Pike's Peak everyday through my office window, truly one of the most beautiful cities I have ever visited.  

I am not sure if you said that you were planning on house hacking the first property you bought, but that is what I would suggest you do as your first purchase out here!  There is no better way to make sure your investment succeeds than to buy a home for 5% down and then rent out the un-used portions to pay your mortgage!  We are following this plan with our current residence and plan to buy another every year for the next 5 years or so to grow our portfolio on the front range of the Rocky Mountains.  

Keep in touch if you decide that Colorado Springs is a good fit for you as I would love to show you some great opportunities to grow your wealth while enjoying 300 days of sunshine! 

Take Care Nate and good luck on your investment journey!