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All Forum Posts by: Eddie Memphis

Eddie Memphis has started 3 posts and replied 158 times.

Post: Seasonal disconnect of natural gas service

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

#5 Kick him out. Find a decent tenant.

Otherwise go with number one. Remember Nancy Reagan's awesome advice- Just Say No!

Post: 1st Landlord deal

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

Do it yourself. It's not expensive and will give you a feel for the whole landlord experience. If you hate it, hire someone. Personally, I never pay someone to do something I can do myself until my time is worth more than my money.

Go to resources for background check services.

Hi Amy.

I'm not sure what you mean by a monthly rebate. 

Eddie

Post: How to Invest $600,000

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

I'd buy a Porsche.

Post: From Millionaire to sleeping in his car, my friend's story

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

Sounds like your buddy was rich, not wealthy.

Spending every dollar and more that you make. Where I grew up, there was a name for this behavior.

Eddie

Post: Top 5 Spots in CO for Vacation Rentals

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

Steamboat Springs is a dynamic community year 'round. Winter Park keep the lifts running in the summer, carrying mountain bikers. Crested Butte is surrounded by the best single track trails in the world and legendary 4wd roads. 

All of these places are vacation destinations during the summer and a well priced condo could see 30+ weeks of occupancy.

Eddie

Post: Tenant didn't pay the rent increase

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

I like that, Jeff. I may need to change my leases.

Post: First Rental Property

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

@Steven Zai

Home Depot and Lowes both have design centers that can help you with the planning and they charge nothing. Or you can find someone that reads magazines and watches all the home improvement show on TV. Like my sister.

Eddie

Post: Renters insurance company denied claim

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

Hi Joe.

Diid you talk to your insurance agent? Your local guy will know what is covered and what is excluded. These coverages vary form and state.

It sounds like you may be liable since it was an existing problem that you did not remedy by addressing the cause (repairing or sealing the foundation) or lessening the effect (vents or fans).

If neither insurance company will cover the repairs, try to work with the renter to see if she will cover half the cost. Might keep you out of court and solve the problem much quicker.

Eddie

Post: What basic landlord laws are important to you?

Eddie MemphisPosted
  • Investor
  • Englewood, CO
  • Posts 158
  • Votes 140

All of them! It's the ones that you don't know that can cost you.