All Forum Posts by: Luke Miller

@James Phan right now, in Colorado, it is technically illegal. That doesn't stop most of the investors I know, including myself, from passing it onto the tenant. However, hopefully come the end of our legislative session in May, we will have that fixed. As you can imagine, it's not a politically pleasing topic since you are passing that cost along, but 3 or 4% per unit adds up really quick. 

This is a good looking property! Great location too.  

It was approved by Denver city council a couple months ago. They were interviewing engineers a couple weeks ago and I think bonds aren't set to be issued until 2017. 

you should be careful to get a state specific lease too. Here in Colorado we have a few things that other leases might not need. You should reach out to your local Apartment Association. They will have a lease, but it will cost you. Be weary of leases you find for free. 

Carlos, I have had good luck with eRentPayment.com I would use something with electronic withdrawal to ensure no one forgets to write a check or get a money order. Do your research, but we had good luck with them. We also tried Cozy.co, but it took too long for the ACH transaction to hit our account. Good luck!

Awesome work! I have been struggling with taking our past tenants to SCC, but one of the roommates was on disability so I can't collect from her anyway. Great work on getting that judgement. That is not right.

Welcome, @George Wines! I too am a fellow mustachian! Much of what we believe transfers over to REI.

I also am house-hacking right now and there are deals to be found. Currently our tenants pay all but $12 of our mortgage. We cover all other expenses, but it is as close to living for free as we are going to get. 

Let me know if you want to grab a coffee soon. 

Please add me to any Colorado buyers list. [email protected]

We're not cash-flowing on our house hack right now. We are short on our mortgage by $12. However, once our unit is rented, it will be cash flowing roughly $500/ month with all of our expenses covered. You have to look long term. It is going to be extremely difficult in any market to cash flow while living for free. 

We had a tenant who started a full blown kitchen fire in the basement unit of a duplex. They never told us about it and they lived in a smoke/ soot filled kitchen while we were evicting them. They also had a nasty case of bed bugs. It is incredible what people can live with.