All Forum Posts by: John Jenkins

I had used Atlas and there are no better than my previous company Only Choice. I have no good suggestions. Good luck

what I am seeing is it is hard right now to get that price range. I would say 110-125k. I just bought a house for 10k over ask. It is very competitive right now.

I use Zelle with Chase and can send $5000 a day. I also collect rents using Venmo.

I see that Only Choice Closed and now are under a new name. I cannot find the email that I received but I used them and have lost thousands of dollars with their management

Update on Only Choice PM:  I had not seen a distribution for a few months and new the lease ended June 27th, and the tenant vacated. I got a message saying that I needed to put the utilities in my name and turn them on, so they could do a pest service. So much for turn key. I did that and messaged them back. I decided to search for my property on Zillow, trulia, hotpockets and THEIR website and NOTHING. So I got upset and decided that to not market a property for lease is a breach of their duties and sent a termination letter effective immediately. I saw a message from CJ that 90 days vacant for a property is not uncommon. They wanted me to pay $1000 termination fee. So I decided to get into the property and wow what a mess. Food left in the fridge, lots of items in the house. Looks like the tenants just skipped and nobody told me anything. I see on google that it says permanently closed, website does not have my access anymore and phone number options 1, 2 & 3 all say not available and to try later. My first and last experience with a turn key property. Lost over 3 months rent and will cost around $1000 to clean and fix damages. 

I would review all documents. i bought my first single family home investment from them in KC. The purchase was easy and the "scope of Work" zach sent me looked like all the mechanicals would be replaced. The inspection found that water heater was 5 yrs old and furnace about the same. They said they replace/install the new appliances when the home is leased. So I incorrectly assumed they would replace the HWT and furnace/AC. NOPE.  I got a tenant about 6 weeks after closing, and they moved in July 1st. She did not have a functioning AC system for 2 weeks. They sent someone out but they did not fix the problem. Finally after that they replaced the compressor and that seems to have fixed the problem. I would get an inspection and THEN get it reinspected 90 days later to confirm all the repairs were done. I  did not /have not done that. Do not really want to disturb the tenant. 

Their management company is not good at all. I have not received my first distribution when I was told they were done/sent on the 25th of the month. So still waiting for my July money on Aug 9th? As a passive investor it should be just checking your account and seeing the money come in each month. Double check Zach numbers because the mgt company charges one full months rent to lease up the house when you get a new tenant so each year( new tenant) you really only get 11 months of income after the first tenant is in place. That changes your returns drastically. Maybe the tenant stays for a few years but that feels like alot one months rent, but that is the deal.

Hi Chad, Welcome to BP I have investments all multi family in CS. The prices are going up each month so it is getting harder and harder to find good deals.

Hi Rakey,

Thanks for asking the question, I was wondering the same thing,

Cheyenne,

Welcome to wonderful Colorado.  It is a VERY hot market right now and even a few year ago the prices were pretty high as compared to Fl.  It does not really matter where you plan on living/investing. Most everywhere is going up and is very competitive.

Good luck

John

Hi Ryan,

I used Tim Schafer with Schafer Maez, they are in Broomfield of of Midway and Center.

SchaferThomasMaezpc

4 Garden Center, Suite 200

Broomfield, CO 80020

O: 303.469.7367