All Forum Posts by: Patrick Capriola

I want to reach out to the BP community in an effort to begin networking in the Denver metro area. We went on our honeymoon in Denver/Vail and went back again a couple of years later. Ever since we have planned on moving there. Over this same course of time we became real estate investors. 

We would like to begin networking in Denver now with the intent of buying there before we make our big move. To do so we will need a strong network so that we can find the right realtor, lawyer, contractors, etc. 

For those of you living and working int he Denver area would you be willing to share information with us? Our goal is to build relationships slowly with connections made in Denver so that we can establish trust and hopefully find ways to grow together.

I agree with Manzur Y. You are just about at the point where there is not much more you can do to prepare. But that is a good thing. Definitely better than just jumping right in. Most of the things you learn in this business will be by doing them, then using great resources like bigger pockets to learn from them. Good luck.

I have a question that I hope some of you may be able to answer.

We are working on setting up a business structure for our rentals.

The first tool that we will use is insurance.

After that we are are presented with a decision.

Should we put each property in a Land Trust then put them under an LLC or should we create two LLC's and split the properties in half between the LLC's? Then perhaps we could put another LLC over the two as a holding company...

The second option is more expensive but is it a better business structure?

The info online ranges widely on this topic as does the info we have received from lawyers and accountants. This forum is always so helpful I just wanted to see what some of you were doing.

Thanks.

We are in the process of purchasing an investment property. During this process we have heard about flood insurance & umbrella policies - aside from the standard insurance policies - but not much more. We will always work with tenants by a simple standard - we will not rent to someone else what we would not live in ourselves. We will always take care of our tenants and treat them how we wanted to be treated when we were tenants.

What else can we be doing to protect our investments? We have worked hard to get here - do not have high incomes - live below our means - and want to build a portfolio that will secure our future for our family. How can we insure or otherwise protect ourselves from litigious actions that may arise in the future?

What experiences have you had that everyone reading this forum can learn from?

We use tenantalert.com

They have a full range of services and they bill the tenants directly if you choose.

Personally I am a little weary of purchasing in an area that I don't live in - but we are just starting out as well. We are originally from NY and understand why you can't invest there. That's one of the biggest reasons we don't want to move back. We are in Jacksonville, FL now and it has treated us well. We are working on our 3rd deal now. All of them cash flow above $300 and we should have a cash flow of about $1200/mo after the 3rd closes.

The entry level market is up about 20% where we buy but there is still room for cash flow.

Good Luck!

Hi Jordan

As a new landlord I am thankful that we chose to invest in a stable community with great schools. It has allowed us to attract great tenants without a lot of effort - which let us put our effort into fixing up the properties and becoming familiar with the process of landlording. Good Luck!

Patrick