All Forum Posts by: Daniel Luedtke

Thank you all for the feedback! I really appreciate it! So, it is $150 total for the whole triplex, so only a $50 raise per unit. On one unit, the lease just ended in Feb. so they are now on month to month. Other leases are up in June and August, respectively. So, I should able to present a new lease to the month to month tenants with the increase, and wait on the other two, until the leases come due to avoid conflict. I assume this would probably be the smartest way to approach it. The tenants all have been pretty good so far, and paying on time, so I hate to rock the boat at this point. Again, thank you for your input. Dan

I bought a triplex back in November, inherited tenants. They've been pretty good so far. However, the old owner was paying the water, internet, and trash (about $150-$175/mo). I want to up the rent to cover these costs. Anyone in Colorado know a good "landlord law" book for Colorado? Or, if anyone could tell me off-hand what the time frame for notice to tenants is, that would be great. Or the best way to do this? I was going to drop off or send notice of rent increasing. It does say in the lease agreements that these are subject to change at anytime. Newbie landlord, help appreciated! Thanks in advance! Dan

Thanks everyone for the feedback! Closed on the triplex yesterday! Officially a landlord! Found out previous owner just cancelled DTV, since none of the tenants were using it. Got internet setup into my name, and have it locked in at $50/ mo (for all 3 units) for 5 yrs, so I may just not rock the boat until the leases are up for renewal. Thanks again for everyone's advice! On to the next one!!!

I am closing on my first triplex Monday. Sellers just notified me that Internet is going up $20/mo total. Apparently landlord has been paying Direct TV and Internet for tenants ($78/mo new amount for all 3 units). Lease agreement says (DTV/Internet) not guaranteed and may be cancelled at anytime. I would really like the tenants to pay their own DTV/Internet. How would I go about this, and does anyone see issues with asking tenants to cover this expense? Thanks in advance! Dan

Jared Bouzek Accountant never file our rental income on a schedule E, so I do not have that income to offset the mortgage payment. I am going to another accountant soon to see if I can have them amended. Thanks for the info, I'll try a few of the local banks up here.

Matt M. Thank you. I will get in touch with them. Appreciate the help!

Matt M. - didn't think it was possible. Lol. I do want to find a portfolio lender to talk to. I have quite a bit of equity in my primary residence, but not sure how to make it work unless my personal DTI is left out of the equation. Tax accountant last year messed up with a rental property, and now it's hurting my DTI, not being able to count the rental income to offset the mortgage on it. Just need to talk to someone to figure it out, as I'm looking at another rental very soon. Thanks!

Thanks Travis. Looking to invest in some multi-family and SF homes for buy and hold rental properties. Looking to finance up to 100% of purchase amount, if that's even possible these days? Thoughts or ideas much appreciated. Thanks!

Does anyone know if there are any portfolio lenders in Northern Colorado??? Or Denver area may work as well? Thanks in advance! Dan

Michael McDevitt , my FIL is obtaining the loan and fronting the down pmt. He really does not want anything to do with the property. He is helping me get started in investing. I think we will be drawing up a note for the down pmt to pay him back once we close on the property. Do we even need a LLC in this case? I will be basically assuming the bank note, and also paying him back on a personal note for the down payment. Thanks in advance!