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All Forum Posts by: Adrian Tilley

Adrian Tilley has started 22 posts and replied 371 times.

Post: Is this seller playing games with me?

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125

@Will Wu I have to agree with others - back off a little.  I can certainly see why you are motivated to get the deal done, but she either doesn't have time, or may be put off by the constant contact.  I deal with people promising me timelines all the time, and those that follow through are in the VAST minority.

Post: Purchasing a vacation rental as an investment

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125
Originally posted by @Elizabeth Colegrove:

You have to be careful about buying a place as a "personal property" and than renting it immediately as a vacation rental. If you don't live in it as your primary residence for one year but use it for investment right away it is technically mortgage fraud. 

All the mortgages/DOT documents that I have seen just require that you intend (at the time of purchase) to occupy the property as your primary residence. Of course, your intention can change at any time. I wouldn't want to live there for a week and then turn it into a rental though. I've heard from other agents that 6 months is the minimum you should plan on, but I would think if you can point to a change in circumstance that makes a move reasonable, you'd be okay with less time (although I can't imagine you'd actually have to, because I've never heard of a bank checking on these things).

Post: Flipping 2 Bedroom 1 Bath homes?

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125

Every house will move at a certain price.  Just look carefully at the comps and make sure you're buying it right.

You might also look at how to add a bed/bath.  That's a larger project of course, but the numbers may justify it.

Post: Denver property manager recommendations and a sad story

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125

No help here, but a free bump and good luck with the search!

Post: Why are attorneys a pain in the you know what

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125

You can't really negotiate with the attorney.  S/he's just doing what instructed by his/her client.  If the client won't budge, there's nothing the attorney can do.  I run into this all the time with my clients not doing as advised.  All you can do is present your offer/comps and see what happens.   

BTW, it's probably not the attorney being a PITA, it's the client.

Post: If you could meet all your needs and wants with treasuries, why would you risk capital?

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125
Originally posted by @Jon Klaus:

Humans are designed to grow, produce, create, and not just exist.

 Actually, humans are only designed to reproduce.  ;)

Post: Nervous about buying my first rental property!

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125

@Vonetta Booker You're not alone.  Everyone's nervous about anything new that involves getting out of the comfort zone.  Take it slow, make sure the numbers work, but at some point you have to take a deep breath, feel the fear, and walk through the fire anyway. 

Good luck!

Post: MLS Props from Realtors

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125

@Jamaal McDonald I'm biased because I'm a licensed agent but not a Realtor(c), but from everything I've heard, being a "Realtor" does nothing in terms of making you a better agent.  Just my $.02.

Whenever you do get hooked up with an agent (or Realtor) have him/her set you up with automatic listing updates.  You can set criteria then be emailed every time a listing matching comes up.  You can set it up to be daily, weekly, or instantly.

As Jon pointed out, it's tough to find deals on the MLS, but it can be done if you're quick.

Post: Invest in Real Estate (RE) via Self-Directed IRA

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125

@Jeff Brown Was searching for info on this strategy and pulled up this old thread.  Have you found a new note guy?  I know you're always preaching rolling 401k's over to a SD then investing in notes, and I'm trying to figure out:

1) where to get the notes

2) worst case scenario, note defaults, then what?

3) how much do I need to get started?  Do I need to save up more first?

Thanks, and if this info is already written somewhere else, please just post a link.

Post: Getting Started from Denver, Colorado

Adrian TilleyPosted
  • Residential Real Estate Agent
  • Broomfield, CO
  • Posts 390
  • Votes 125

@Derek Diamond You should be specific about what you need people for - there are many different subspecialities in those professions.

If you need an attorney for evictions, there's a mill downtown that specializes in that - can't remember the name but someone will.  I'd use them if you want the lowest cost.  If you need an attorney for something else, including contract work, PM me and I'll give you a recommendation based on what you're looking for.