All Forum Posts by: David P.

I have heard different opinions regarding late fees. My properties are in the Denver Metro area, and the currently renting for $1150 per month and I charge $20 day late fee stated in the lease. Is this fair and reasonable for a 3/2 duplex? I have not found any written laws in this regards but doesn't mean there are not any; all advice welcomed.

Kelly, personally I would stay away from this paid mentor. If this "mentor" collects $200 from a 100 people, they made a nice little chunk of money. I don't I don't think you would get your money back from PayPal either. Instead, you should upgrade to the Bigger Pockets Pro subscription where you would have access to other experienced investors.

Additionally, you should try and find a mentor in the area you are investing; that way the "mentor" will be more familiar with the laws of state/city you are doing business. If you have specific questions, you can PM me too.

I am looking for a CPA in the North Denver metro area; can someone recommend one that has extensive experience in Real Estate and is also an investor?

Thanks for your replies!

@Justin S. price point $125K to $200K

@Steve Dove Great advice on the screening and deposit. I plan on doing the management remotely from Colorado through VBRO as the reservations and credit card processing via Square (low fees). Additionally, there are locks on the market that provide code to tenants during rental periods only, and codes for Maintenance and Cleaning people as well. I have even seen thermostats that can be controlled remotely so to keep tabs on the AC/Heat. As the baby boomers retire, I am hoping to fill the need within this market with 1 - 3 month stays as well and weekly rentals.

Looking at purchasing a vacation rental and furnishing it in Phoenix; any advice on location, size and what to expect out of short-term tenants?

Hi, I have been investing in real estate for a few years now, (currently have 5 doors) and am looking for colleagues in the north Denver metro area who have been investing for years as well. Yes, I am looking for someone who will mentor me and create synergies of opportunities.

One of my goals is to step out of the "Rat Race" and into something I love and build my empire of Real Estate! If interested in helping me, please send me a message and I will give you a call.

Thank you in advance for your consideration!

Ruth and Dick, thank you so much - I have found a new company and it seems to be working out. I appreciate your input to my post.

Erin, it sounds like woodpeckers trying to get lunch from your furnace vent. I doubt it however since you have the sound all the time. I could check the heat/ac duct system that Steve recommended - could be a fan inside the pipe that helps with air flow and could have gone bad and/or out of balance. It is strange what some people will do to solve minor issues.

Good luck and keep us up to date on what you find.

Thank you for the reply; yes it's a rental property - this is more for asset protection than anything. I was recently talking with another local investor and she indicated that a Warranty deed is better. After reviewing the terminology regarding deeds it appears they both serve my goal, but I want to ensure that I don't void my title insurance or property insurance by completing this action.

I will make a call to the title company and see what they recommend.

Dave

I would like to ask the general question which is better to do when transferring deed from person name to business name - Warranty or Quit?

I want to ensure I don't affect insurance - and if so what are the recommendations for this if I do one over the other?

Also, would anyone have sample form they could share as this looks like an easy process that I would not have to involve a lawyer. I need one in Colorado and Arizona if possible.

Thank you in advance,

Dave