All Forum Posts by: Jane S.

thanks much

wish it was clear not confusing!

I can't find any info on what the legal late fee is for late rent in CO. i dont want to ask the attorney i used for an eviction he ga ve me wrong numbers. I have seen 5% and $107.00 but no way to determine which to use. Thanks in advance.

If they hold a property for 20-30 years and are depreciating every year, the cap gains will be thru the roof! I guess the appreciation can be used to cover huge cap gains taxes when property is sold? Or if they 1031 they will have the challenge of repeating the cash flow, so ... seems like a tough problem.

thanks ... if she stays and pays it will be covered by a new lease with all protections in terms of her exit date. THe lease she has now includes week by week extension. I havent heard anything i think she has a place to move to. Will know more in time. 

Look around your town at how many new apt bldgs are being built! Does that answer the question you have about whether youll be able to find new tenants at the market rate? These new apts are going to have a huge impact on rental pricing. The sooner you start operating a business the sooner you'll show better cash flow and compete with higher prices from new construction. You'll have a rental history, the new guys dont.

10% seems unrealistic and puts you in aggressive risk taker category. Many Ponzis out there so you need to really be doing a lot of due diligence.

10% seems unrealistic and puts you in aggressive risk taker category. Many Ponzis out there so you need to really be doing a lot of due diligence.

Again, many thanks. Not long till the big move out day! You're correct she is totally confused but i'm not her therapist.

HI there,

Why are you hanging on to this elephant that's causing you both such stress? The only reason you can find tenants fast is the low rent. Does it cash flow? By how much? Have you really sharpened your pencil and done your numbers? 

Have the tenants paid security deposits? They have to be made equal to the new rent as well. So its not just a rent raise its added cash for the higher security deposit. Are the tenants legacies from when you bought this property? If they take care of the unit there wont be much cost to make rent ready after they leave. 

A property manager isn't always the answer either. They can really do a number on you when there's a move out fixup. Many posts on social media about crappy PM's. They know how to talk a good game. 

How about renting one unit to a handyperson for a lower rent with a tight contract on how/what the responsibilities are? (NOT free!) If you have a resident handyperson you're still in charge. I would stick with licensed HVAC, plumbers and electricians though.

You'll never solve this unless you sell it. But the lack of cash flow would be a problem.

My granddaughter, Eve (not her name) just started her first semester at CU Boulder. She's really stressed out. I've never seen her so distracted and hyper. One reason is her heavy course load. Also she shares a small room with a roommate, the room is smaller than her bedroom at home, and stuffed full with belongings. When her mom and I were visiting one afternoon, the roomie showed up with a male f**kbuddy and they went to the roomies bed and started shamelessly carrying on, in spite of the fact that there were 2 adults in the room. It was sickening.

I'm positive that when Eve agreed to room with this gal they did NOT discuss having daytime/overnight/male guests and what the considerations for privacy and decent behavior would be . I got no answer from the so called security division of the college. They said Eve should talk to the Hall Director if "she is uncomfortable" and consider changing her room, they can do this until December. Apparently the College is NOT in loco parentis when it comes to horrible lifestyle choices. Who knows how many guys are gonna be invited to sleep over with this roomate, who could be picking them up on the street, there is no control over who goes into the dorm as long as someone has the main door key or manages to slip in when others exit ...

Eve did not know this gal before deciding to room with her. Eve's major is music and they've been told they need to practice 3-4 hours a day. Plus she signed up for choir, which is a big time commitment. The practice rooms are very hard to get into so Eve's having her keyboard moved into the room, there is a very small space for it. I think she needs to be in a single room if there is one available, and needs to admit that she's not going to be able to focus and progress with a roommate like the one I encountered when I was there. 

Eve went through sorority rushing but I have no idea if they would permit or disallow males in the girls rooms. If she joins a sorority she doesnt have to move in, I dont know where the houses are but certainly not on campus. Maybe that's the answer to avoiding losing sleep because people 8 feet away are having sex.

So parents of college girls what has been your experience? I know I need to have a long talk with Eve and a separate talk with her dad. I dont think hes quite in the picture on this. Neither of her parents drink or smoke or do drugs so Eve has no experience with that.

Hope I can get some sleep now. Thanks in advance for your help.