All Forum Posts by: Luke Miller

Welcome, @Andrea Tinney, looks like we are neighbors. Good luck with your first deal.

Wow. Personal attacks and assumptions about my home life. You are a model of emotional stability and level headed thinking, Paul. I wish you the best. 

In my 20s, i'd be down for a meet up. Thanks for putting this together @Scott Trench!

@Paul Choate you're making an emotional argument on why these people are good and deserve to be rented to. That is opposite of everything being a good landlord is about. Taking emotion out of the equation will allow you to make better financial decisions. If a tenant decides he wants to run away from his debts again, he puts my family's financial well-being in jeopardy. Where's the charity in that? 

Run your business as a business and if you choose to give to charity, it should be a personal decision. The thought that landlords should be encouraged to provide irresponsible people housing is ridiculous. 

@Tess Tari it doesn't take a lot of money and time to make an old kitchen look good again. New sink and faucet, sand and repaint the cabinets, maybe new hardware, new cheap ikea light fixture and paint will do wonders. Shouldn't cost more than $500.

We are in a similar situation. Our yard is mostly dirt. I have been putting down grass seed and mulch just to make sure our yard doesn't erode even further. Bill is right though, tenants don't care about the lawn. I'm just hoping some green weeds grow back. 

You should absolutely try your hand at property management first. We are house hacking a duplex right now and I have probably invested maybe 30 hours into the entire process so far. If you pay yourself a generous $50/ hour I have "spent" $1500 on managing our property. I'm not sure how this would stack up against property management costs, but i'm guessing they are close. Plus, I get the added benefit of learning the process. 

I think it is crucial to understand the process of managing tenants if you want to be a land lord. No better way to do it than get your hands dirty. 

If you accept your premise that a "good PM company" is the success to scaling, how will you know what a good PM is if you don't have the information to ask the right questions. 

Maybe your experience would be different when you get into tri's and quad's, but I seriously doubt there would be much more time invested. Good luck. 

Hi @Tori Smith, I cross paths with many of the oil and gas folks in Colorado. It sounds like it might be a good time to think of a way to transition out of that industry here. Good luck!

Wow that looks great. Good work!

 THS is probably the biggest and best in Colorado. https://www.thslawfirm.com

Second best is probably http://www.sbwp-law.com

Those two firms make up probably 80% to 90% of evictions in Colorado. I have used SBWP before and they are affordable and quality, but THS is good too. @Bill S. has used them before and he speaks highly of them. 

@Christopher Manus your timing is pretty good. There is a huge initiative from the VA and HUD to "end" veteran homelessness. Here in Colorado, we have a program to give incentives to landlords who rent to vets.

Indy might have something similar. Here's an article about ours:

http://www.denverpost.com/business/ci_28438112/met...