All Forum Posts by: Jennifer McPherson

Thank you Mindy Jensen ! Yeah Thursday cannot come fast enough! I am so ready to move on. By the time it's all said and done we will be more thank 5k in the tank from these people at the very very least. This is a hard lesson to handle but I am not going to give up!! I will be looking for recommendations on screening!!!

For those of you who have helped and have been following along.... Our renters gave us a check last Thursday (the night we served then to pay or quit), we deposited it Friday, and it was returned NSF! This Thursday is the seven days (our lease says they have 7 not 3 - lesson learned for the next lease). They promise they will pay by then etc but I remain a stone cold human. Eviction will begin Thursday if I do not have verified funds. That being said.... I may potentially be looking for a GREAT tenant if any of you know someone who wants to live in Erie CO! Wish me luck.....

Thank you so much everyone for the excellent information!  I was able to speak with @Bill S. on the phone and he was able to answer many questions and give me some great personal experience!  I also contacted the attorney's office mentioned and will be delivering the pay or quit form tonight on my way to the MEET UP in Erie that @Mindy Jensen will be at tonight!  and thank you @Ralph R. - For sure this is a learning experience but I still see the value in investing and I will not let this little hiccup deter me from continuing in this direction.  I am ready to kick butt and take down some names....  

Will do Mindy!  Thank you so much... see you tonight!  

I am planning on attending tonight!  Look forward to it.  

Jennifer 

Wow - Thank you everyone!  I do have an attorney which told me yesterday to send a certified letter via the mail with return receipt.   I am doing that this AM.  I did a ton of research when we decided to go down the investment avenue and knew that one day I may have to evict someone - I am just super bummed it happens to be my first tenant!  Live and learn - I did the tenant screening myself so next time I will hire someone to do that process. 

Let's say I send the letter and they pay, then again this happens next month only this time I am on top of it and if they don't pay in three days I begin the eviction.  If they pay on the 6th day after the pay or quit can I still evict them or do I now have to go through this process every stinkin month to get my rent? 

Originally posted by @Mindy Jensen:

@Timothy Lee, there is a meetup in Erie on Wednesday at 6:00 pm at The Old Mine, 500 Briggs St. Downtown Erie. Look for Dan's red hair and freckles...

 @Mindy Jensen  So there is a meet up in Erie Wednesday at 6PM August 17th?  If I can swing it I might just go!  

So I am a newbie - and it seems like my very first tenant may end up being not so great!  In April we closed on a second home and moved into it and kept our home in Erie to rent out.  We found tenants that everything check out on - except this is the second month they are late - except this month - today being the 16th they still have not paid rent.  Our home is not chump change either.  Currently worth $500K+.  Neither is the mortgage.  We do have savings etc we put away for this reason but I di not think the first people we would rent to may potentially drain the bank!  I am sending a letter to pay up tomorrow by the 22nd and if not I will start Eviction.  I also checked with the Town of Erie and they have not paid a single water bill either.  Which I understand the town can put a lien on my house for that - so of course you know who will have to pay that....   Any advice on the front end is totally welcome!

The Denver metro is exploding because over 200,000 people have moved into Colorado in the past year and for the third year in a row Colorado is in the top 3 in the nation for the number of people moving into the state. The marketplace is crazy and home values are rapidly going up. The inventory is low not because people are hanging Onto homes but because of the amount of people moving here., in my opinion. They seriously cannot build houses fast enough. It's a good market to already be established in but I assume highly competitive and difficult for cold starts.

thank you Paul!  I'll definitely look into this!!