All Forum Posts by: Michael Greenberg

@Garry C.  I am in South Denver and would be happy to chat / grab a cup of Joe.  Will email you directly.  Thanks

@Dan Schwartz Thanks for the feedback and I will let you know if I decide to sell.

Thanks,

Mike

@Akash Y. Thank you, good details.  My attorney agrees.

@Stone Jin Will do. That's an interesting idea - giving the HOA the finger. Thanks again for your input.

@Stone Jin Thanks again Stone. VR's is my full time job so it's not a huge issue and I have it pretty well streamlined. I am really considering SFH's, but more so for VR's than long term rentals.

@Stone Jin Thanks for the input.  Boy isn't that the truth.  Ever since the Governor signed it into law, there has been a dramatic increase in VR availability.  I was just analyzing long term vs. short term as an option.  Beyond Zillow, where did you find your rental rates for long term?  Fortunately, due to the locations of my units being so close to Old Town, I have been able to rent consistently throughout the year.  If I use Zillow as a benchmark I am still far ahead with my VR vs. Long Term.

@Ryan Evans that would be great.  I just sent you a PM to connect so we can share contact info.

Thanks @Valerie Rogers, I am still crunching the numbers.  Since we're both here in CO, let me know if you want to check it out.  It's pretty darn cool.  If not maybe we can grab a cup of coffee sometime as I live in South Denver.

Cheers,

Mike

@Paul Sandhu Now that is a well oiled machine (I'm referring to everything but your cleaning lady so no offense).  I am not far from that plan.  

1 extra roll of TP in each bathroom

1 towel for each guest +1 extra for up to a 3 night stay.  2 extra towels for more than 3 nights  (I send out my linens to a wash house that charges by the pound)

No extra bed linens unless they are staying longer than a week

Same kitchen stuff as you but only have 2 light bulbs

AA and AAA batteries for remotes

Throw away most items except for the (3) pairs of brand new size 13 nike's my son wears now and new designer flip flops my non-cleaning lady wears.

@Kevin Lefeuvre Thanks for the input, no HOA has been added to my criteria going forward as well. Cash on Cash needs to be north of 10% otherwise I might as well buy and hold, renting long term. My attorney responded with the below and I am moving forward putting the HOA on notice. If nothing else it might scare them into submission. No HOA wants to ever hear from an attorney.

"If they don’t get the 67% approval, then it is not enforceable and you don’t need to worry about it.

That being said, in my opinion there’s also a strong argument that they require 100% approval of the condominium unit owners. A.R.S. § 33-1227(D) requires unanimous consent of all unit owners if an amendment changes “the uses to which any unit is restricted. Because the proposed amendment changes the use by prohibiting certain rentals, I think this provision should apply.

I also have a problem with the Written Consent as it does not allow you to vote no.

Written Consent says deadline is Jan. 31, 2018.

We could put together a letter objecting to the proposed amendment if you’d like."