All Forum Posts by: Adrian Tilley

@Rich Riesmeyer Another option, which I did on my current personal residence, is to just sand the popcorn (when working with this stuff you have to be careful of asbestos in older houses). I used an orbital sander and spent 4 days on a ladder. It sucked, but it was basically free (I wasn't working at the time), and afterwards it looked like a knockdown texture, and we just put a coat of paint on it.

Sorry to bump an old thread, @Tom Goans , but after listening to podcast 56, I have been doing some research on tax liens in Colorado. Current rate for tax liens is 10%. There is a premium being bid, so that the effective interest rate is ~9%. It seems to me that the only way to make any money is hope that the property goes unredeemed for the 3 year period and you can get a tax deed. This seems like kind of a waste of time, and it would seem that the only people who would bid on these are folks who want very safe returns. However, there seem to be a lot of ways to get better returns in other REI strategies. Am I missing something?

Thanks!

@Peter Hanson Could you go into a little more detail regarding exactly what you did to "network" - who did you talk to, what did you say, etc

And what your strategy was for searching on the MLS and making offers?

Thanks, and by the way, strong start to your career!

End result looks great. Did you account at all for the time you spent on the work? You can always chalk it up to learning/experience.

Bill,

We have tons of walkouts here in CO - I've only seen a few houses built without a basement. I've just never seen a condo with one.

@Mike Wallace How does a condo have a basement? That's new to me. If the numbers work, you're good to go! Keep us posted.

@Bill Coleman I have thought about going the condo route also. The lower prices are certainly appealing to those of us starting out with limited capital. However, I decided that if I'm going to go to multi-unit properties, I might as well buy a small apartment building - I see several 8-20 unit properties on the MLS all the time. That's sort of the best of both worlds: more control and the costs are spread out over more units. As @K. Marie Poe pointed out, even thought the HOA "covers" the costs in the short term, long term you are still funding your share of repairs/maintenance.

I think @Bill S. hit it right on from an analysis perspective. The question is whether the incoming supply is "oversupply" that will push down rents, or whether it will just fulfill the increased demand from population growth.

Hi @Mark Garcia - welcome! Take a look at the beginner's guide as suggested, and listen to ALL the podcast episodes. There are a lot of discussions regarding the best way to start out - with or without capital!

Hi @Bryan H. , BP is definitely the place to be. Lots of great info and contact here. Feel free to reach out if you have questions - lots of Colorado folks here for CO specific information.