All Forum Posts by: Maxim Lorenz

@Wesley W. Thanks Wesley for a very detailed post. I am out of state so your approach is not feasible for me, but this is definitely a great to weed out unqualified applicants. I will borrow some of your verbiage for my pre-screening. Thank you.

@Adam Martin @Brendan Miller Thanks gents. Totally makes sense.

I have a property in TX that I am getting ready to rerent. I haven't formally listed it yet anywhere outside of TenantCloud (TC), but looks like apartments.com pull data from TC so I started to get a lot of leads. Anyways, many want to come see the property. Should I first show the property and then screen potential tenants or vice versa? I understand that potential tenants might not want to spend few bucks on screening fee before seeing the property, but at the same time I don't want to waste my time on someone who isn't qualified in the first place (I am also out of state).

@James Carlson Thanks much for your advise. Yes, perhaps medium-term rental is a better option. We bought in northern Colorado Springs due to better schools and better rental potential later down the line if needs to be. We're here max 4 years before moving to out retirement country. We're looking into a smaller cabin in Woodland Park, but perhaps you're right about medium length rentals here in Springs as I am sure not everyone want to live/drive to Woodland Park.

I am Active Duty Officer and currently own a home in Texas with 85k left on loan (100k originally borrowed at 15 years conventional) on property that is around 300k at 4.25%. The tenants are leaving end of August and I will rerent at around $1900/mo.

I am closing on main property in Colorado for $470k at 2.5% VA with no money down (the rate was much better than conventional loan) and at 2.5% the general consensus was to borrow as much as possible.

I am looking to buy another property for Airbnb either in CO or TX. I have about 100k readily available cash (TSP, IRAs not included), but fear that if I use 100k (or a part of it) as down payment on another property I will not have enough cash buffer in case on emergency in the event of vacancy, repairs, etc. May be worst case cash out refinance property in TX?

TX property is self-managed. CO main property employer pays ~90% of mortgage. If all goes well, I'll retire in 4 years to a pension of ~5-6k/mo and should not have any problems securing well paid job due to nature of my work. However, that's then and there are too many what-ifs so I rather play it safer-ish. What's your take? Thanks.

@Maxim Yershov Found it: https://scout.gomillie.com

Hello all,

Am doing to take over managing my property in Texas (single family home), but I am in Colorado. Last year on Reddit I ran into a discussion which recommended on-demand property management. I can't find the site or the link. By on-demand I mean someone who charges one time fee for services (showing, inspection, drive by, etc). Does anyone have any recommendation? Thanks.