All Forum Posts by: Niki C.

Thanks everybody for warm welcoming! Happy investing!

You can search : landlord and tenant law in (state) . That will bring up a lot of related information. Then you will have idea how much late fee can be charged, grace period, ...etc

Thanks Andrew!

Hi BP family,

I'm from Aurora, CO and I love Colorado! Love the snow but not driving in the snow :)

A little bit about myself, I bought a condo since 2016 because I don't want to pay for rent anymore and 1.5 year later I bought another one, the reason was it had a detached garage! Yup! Plan is simple because I just want to get out from my garage and go to work right away no need to clean my car on the snow day.

I turn my first condo to rental and live in the second condo, and start my landlord life.

I'm glad I found BP so I can learn and get help from other members. 

This year, my plan is looking to buy property in Colorado Springs or other place around Colorado since Denver Metro area where I live right now the price is a bit high. Hope to get connect with anybody who know Colorado Springs market and can help me with some ideas where to start. With a W2 job, I try to do put some time do my research when I can and hope this year will be another adventure for me!

Do you mean 5% down payment? As long as the property is owner occupied then you can put 5% down, that what i did for my second property and turn the first one to rental.

IMO paying mortgage is cheaper than paying rent. Even you are not going to make money with the house but at the end when you are retired, your house is paid off so you dont have to pay for a place to live anymore.

When i open my Heloc there was a $200+ fee for the appraisal. There is no other fee rather than that. And $75 annual fee to keep the HELOC. Hope this help.

Hi BP family, I want to give a notice to enter my rental unit. The reason is for the PMI removal Purpose, they want to do a quick 10 mins walk through the unit and take pics. Does anybody know any form that i can use and what should i say in the reason for the entering and do i need to present at the time they do the inspection? Its my first time dealing with it so i just make sure i do it right and i live in Colorado. Thank you so much!

I live next to my tenant, and im going to increase the rent this summer ....

Lesson: dont feel bad for your tenant when they tell you their story because you will hear more and more story from them :) My first tenant always tell me story make me feel bad for them to waive the late fee when pay late. I feel bad a little bit but i still collect the late fee and when they tell me they are not going to pay till mid of the month i didnt reply and post a 3 days notice, guess what? They paid me the same day i post the 3 day notice :)) and this month they pay rent on time without telling me any story since they already know what i am going to do to them. I always remind myself that i work hard to buy a rental, if i feel bad for them then who will feel bad for me when i dont get the rent and pay the mortgage out of my pocket?