All Forum Posts by: Kevin Fletcher

@Jon Lafferty I think the comments here are good. You'l be able to achieve so much more with OPM then you will with your own, and the fact that you have a good job makes it that much easier. I think it would be wise to check the average rental cap rates in your area and the areas around you to see where your best target area/market is. Many people think that you must be able to get 2% of the purchase price per month for the property back to make the deal viable, but its almost impossible in the bigger markets from what I've seen. Good luck hunting

Welcome to the BP community @Eric VanKirk .

There is going to be a biggerpockets meetup

Bicycle Cafe - 1308 E 17th Ave, Denver, Colorado 80218

The gracious hosts at Bicycle have offered us drink specials, for BP meetup group only! $2 can specials for your group, as well as happy hour pricing for the evening, which is dollar off drafts/cider/wine.

Come join us!

This is pure networking, we can do introductions of what you do (or want to do) and your name, and then find someone who is doing what you want to do and tackle them.

@Robert Musallam @Corey Gentry

Thanks for sharing what your CPA told you. I now have a pretty god Idea of what to do when I set things up. I am alone at the moment but I plan to grow and I just want to be ready for anything that may come later.

@Bryan L. - I agree there are more important things and but I'm in Russia just waiting to get home to Denver, which will make it a little easier to search for deals- and meanwhile I'm trying to take this time to lay some groundwork

Good Luck with your deal and Welcome to BP!

I am trying to find the best way to set up my flipping business. I'm starting small but I want to plan ahead, so I'm prepared to take the next steps easier. I have heard that an S Corporation may be a good option for tax reasons. Does anyone have experience with starting one of these? Do you have some tips, tricks and need to know's? Thank you

Shucks, I should be back in Denver just a few days after that, I guess ill have to catch April's meetup

@Bill Coleman I was doing some of the same research you are doing and i think you've gotten good advice form the other posters. Ill just second it by saying some HOA's have the power to put liens or your condo for missing fees, so you should always CYA by making sure they're paid. The best way is to do it yourself

@Adrian Tilley Ive heard the same thing, that the amount of fires caused by faulty electrical work from growers is staggering.

@Eric Belgau In Denver you'd be surprised at how much commercial warehouse space is leased for grow operations. Growers typically are willing to pay the extra premium to rent space, because of the limited amount of Landlords that are willing to rent to MMJ. The State vs Federal Laws can be scary, but from what Ive heard the feds are more interested in watching the growers not the landords. The worry is that an MMJ tenant is not crossing their I's and dotting their T's. There is a lot of legal oversight that has to be approved to complete a certificate of occupancy for a legal operation- that includes city inspectors, Fire department and others. I think the key is to really know, very well who you are renting to, and make sure they are real "business" men that are serious about doing things right. or you could come back to your space and find it empty after the fed's have seized everything but the building.

@Jeremy Baker Welcome to BiggerPockets!!!

@Jeremy Baker I have seen some of the same problems, Ive noticed are that if your looking for the 2% rule on a rental property its almost impossible. I.E. If you spend 200k on a house its not likely you will get 4k per month in rent. Many of the properties are at the below 1%, so you will have to do some creative financing to make the deals work. but I am also a little apprehensive about investing out of state so I keep searching...