All Forum Posts by: Robert Herrera

Ed E. I already own houses in Pueblo, my monthly cashflow is through the roof. I love pueblos market. The more of you that stay away, the better deals for me... I have to sell to an investor or wait a year, and I don't want to wait a year. I may put this up on the market place.

Dan Mackin yes I have proof of income. They are never late.

I am working with a realtor. I posted here because I figured, Investors who want cashflow would get a great deal, and I wanted to know what investors thought about it. I want to cash out and buy up more property in Colorado Springs, and Pueblo. Better numbers, etc. I figure the payment would be around $1,000-$1,100/month giving better returns than most of Denver. The tenants are responsible for all repairs and maintenance, as well as ALL utilities. I went in recently and it looks better than I gave it to them.

Ok, so I have a house in Commerce City, Colorado. Denver area, for out of state people. It is currently rented at $1,900/month and I'm selling for $225k. Should I sell with this tenant, still one year left on lease, or wait until they move out?

@Renee Kostermans I live here in Colorado and have Seen this process a few times. Tenants start talking about suing first, to scare you. Then some sob story to get you on their side. If she was really scammed, she would have called the police and you would be contacted, because you know who your previous tenant is. 

This new tenant is there illegally. Does she have a Lease? If not, she's TRESPASSING. I say, call the cops and say someone is in your house and you want them out. They do not have a lease and you have not accepted any money from her.

The police will show up and tell them to leave. Problem solved.

If they have a lease, even if it's illegal, they will know you are serious when police show up. I shows power is in your hands. They usually get scared and leave after the police come.

If they stay, Post a 3 DAY Notice to your ORIGINAL TENANT for breaking the Lease. She abandoned the property, etc. It's a FREE Form as stated above. You can google it for Colorado. State an illegal Contract, or whatever else you can put together. Notice posted on the Door, added to the fact the Police were just there, makes most people rethink what they are doing. Hopefully they leave. Have someone go by and check.

If not, you will have to file Eviction papers at this point. This can be done at the county Clerk. Costs vary, but around $30-$100 depending on where it is. You may be able to have an attorney do all of this for you, extra cost. Or you can hire or have someone act as an agent on your behalf.

File the papers, and have them served to the tenants with a service company, if you need someone official and knows what they are doing. The papers will have a court date in the next week or 2. Show up to court, show your case, and get them out. They have no rights, and have no contract with you. You accepted no Money, and they are not welcome. The judge will probably side with you. You can ask for court cost but probably won't ever get them. 

They will have to be out by the date the  judge decides, which could be that next day. if they are still in the  house, call the cops. At this point they have to remove them per the judges order. 

I'm not an attorney, consult your own advisors. This is just what I've seen done. If damages are far more than your deductible on insurance, consider using it. Some landlord insurance pays the going rents while your place is getting fixed up.

Hope this helps!

@Vicki GleitzOne thing you could do to keep them from EVER GOING BACK IN... I'm sure you know what GANG it is. They either wear RED, or BLUE. If they wear Blue, paint the house RED. They will never want to stay in a Bright RED HOUSE. If they are Red, Paint it BLUE. You just have to understand the psychology of these young punks. I used to live in pueblo and understand all to well what goes on there. 

Ralph R. Yes I bought one in the west side, it rents for $900/month it's about to go up to $950. My house in the east side rents for $925

Ralph R. The pueblo market is through the roof on rentals and going up, just like the rest of Colorado. Most of my rentals in pueblo are over $900/month.

Curtis Bidwell as you can see from that post, I put that you have to subtract those things to get your rate of return. Also if you look at my other post, you don't need to worry about ANY of those expenses with a lease option. As Bill S. Pointed out, this is s more sophisticated technique, that requires above average knowledge of real estate investing, but the returns can be Great!

Vicki Gleitz you can sell it to me. What is the address. What did you pay for it