All Forum Posts by: Nina Telthorst
Nina Telthorst has started 2 posts and replied 26 times.
Post: Rental Property Investment Suggestion
- Lakewood, CO
- Posts 28
- Votes 15
What market are you in?
Post: Illinois Moratorium IHDA
- Lakewood, CO
- Posts 28
- Votes 15
Can you figure out what the reason is for not wanting to fill out the paperwork? After reading How to Win Friends and Influence People, it’s been really interesting to see the recurring theme that people love to tell their story and when they feel heard, they open up and are willing to help others. Take a genuine interest in what their needs are and maybe it’s something simple you can help with and that will be enough to get them to take a look at that paperwork. Good luck!
Post: Good opportunity that could go wrong
- Lakewood, CO
- Posts 28
- Votes 15
Originally posted by @Joe S.:
Originally posted by @Amy Silva:
Hi, I have an opportunity to purchase my parents home for $500,000 in the Bay Area (Home could be sold for about 1.2 mill). Obviously, I would love the chance to get ahead of this crazy market, but there is some agreements that need to made.
1) Parents would be able to come and go, they want to live in house w/ us 6 months out of the year
2) Sibling would get $100,000 from sale for down payment to purchase a home in Utah for my parents to share w/ them so they can see grandkids in Utah and California
3) We all as a family would have to agree-we all want it in writing and I'm concerned that if it goes south it can cause problems w/ family relationships.
How would you go about this? Who should I speak to to work the kinks out if we go through w/ this, a real estae lawyer?
Thank you for your knowledge and advice!
I believe the last part of your title fits best.
If your parents are up for it, wouldn’t it make more sense to have them will it to you? What’s the advantage to you owning it now?
Originally posted by @Bill B.:
How about years ago when he predicted hyperinflation. Has he said he was wrong yet or is he planning on taking a victory lap saying “I predicted that 10 years ago.” Even though you would have paid a huge financial price if you had followed his advice back then?
Maybe he doesn’t write the books or even suggest the topics, but at least some seem like cash grabs based on name recognition.
Biggest stock market crash in history, Bitcoin crashes to $24k. Nothing is suggested as an opinion but rather a certain future. There’s pretty much zero penalty financial or reputation-wise for being wrong. So why not keep tossing out predictions. If it ever happens you can say you predicted it. Eventually you get to the point where you predicted crashes and booms. So your right no matter what.
Im sure he’ll be fine no matter what happens and he’s probably still been a net positive in more ways than most of us.
Agreed. They whole reason he chose his path was to weather storms and profit…to be disaster proof.
Post: Our first house live in fix and flip
- Lakewood, CO
- Posts 28
- Votes 15
Investment Info:
Single-family residence fix & flip investment in Lakewood.
Purchase price: $300,000
Cash invested: $45,000
This house was the ugliest on the block, but we saw it had good bones. We have done a ton of yard work, new paint inside and out, refinished hardwoods, new windows, grounded all the electrical, new roof, remodeled both bathrooms and updated the kitchen. Next will be a deck in the back and fixing the garage. It’s been a process and a rewarding first project.
What made you interested in investing in this type of deal?
We feel into it while needing a new home for our growing family.
How did you find this deal and how did you negotiate it?
Found this on Redfin and viewed it the day it came on the market. We wrote our love letter and were the only “non-investors” who made an offer. We are still working on it….next step now that the basement is finished, maybe Airbnb the two bedrooms downstairs?
How did you finance this deal?
Private loans and a traditional mortgage
How did you add value to the deal?
Sweat equity as mentioned in the description.
What was the outcome?
After six months (originally appraised at 312k), we did a refi and dropped the PMI and got cash out to repay our private loans. It appraised at $430k!
Lessons learned? Challenges?
It’s worth it to put the work into it. We are very fortunate to be handy and have handy friends!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Greg Powers Jr was an amazing helping us with our mortgage and refi.
Post: Cities Friendly to STR in Denver Metro?
- Lakewood, CO
- Posts 28
- Votes 15
My neighbors across the street in Lakewood had an Airbnb. For the past three years and before they started, they called the city. Basically, they were told the city didn’t mind. The property was booked almost constantly and they did well….I suppose that constitutes friendly?