All Forum Posts by: Thadeous Larkin
Thadeous Larkin has started 12 posts and replied 81 times.
Post: Memphis Apartment Syndication

- Colorado Springs, CO
- Posts 85
- Votes 144
@Justin Emmert - How did this turn out?
Post: Do Army Warrant Officers make good real estate investors?

- Colorado Springs, CO
- Posts 85
- Votes 144
@Joshua Wynn - I literally laughed out loud at that. My plans are always perfect and the only reason they don't work out is because nobody is sufficiently motivated to carry them out to perfection. EVERYONE IN THE FRONT LEANING REST POSITION UNTIL MORALE IMPROVES!
I sure am at Carson. Great place to be, but the OpTempo has been crazy the past three years. Just got back from the Afgharristan in March, so I'm still adjusting to cooking my own meals. I assume you're at JBLM - never been up that way but heard it's beautiful.
Post: Do Army Warrant Officers make good real estate investors?

- Colorado Springs, CO
- Posts 85
- Votes 144
@Joshua Wynn - Everyone knows Warrant Officers make terrible real estate investors. You can't just "go fill up [your] coffee mug real quick" and disappear for three hours without anyone knowing where you are and still expect to be successful.
I kid, I kid! Congrats on WOCs, and good luck in the REI field. Stick to it (sounds like you will, since you survived a guru session with your head still held high), learn a bunch, and you'll do great things.
Post: Newbie future retired Army investor.

- Colorado Springs, CO
- Posts 85
- Votes 144
@Phil Begay - Welcome, redleg.
Active duty officer here. Step 0 is the right mindset. Step 1 is educate yourself as much as possible (reading good books, analyzing phantom deals, and picking brains about specific questions). Feel free to PM me for specific questions or about resources.
Happy to help in any way I can.
Post: Short term rentals being assessed as commercial property

- Colorado Springs, CO
- Posts 85
- Votes 144
@Robin Searle - I know New Orleans was considering something like this last year. I never followed up to see what happened to it. So that's my super helpful insight (i.e. nothing).
This is a very concerning development, and thanks for giving everyone the heads up.
Not for nothing, but this past election in El Paso County saw voter turnout of about 30%. A strong contingent of very motivated voters who are loud about expressing their displeasure with this turn of events (and who can dangle the specter of a candidate friendly to their interests) is the only thing that will motivate them to reconsider. Just food for thought.
Post: Denver couple face felony charge over Airbnb

- Colorado Springs, CO
- Posts 85
- Votes 144
@Jerry W. - You're absolutely right - the stated intent behind each of these laws can't be reconciled with their real-world effects. I said it when Colorado Springs passed their ordinance and I'll say it again, nothing you listed (MJ legalization, etc.) nor these new STR regulations/ordinances are actually meant for public safety. These are purely revenue-gathering measures.
Not to hijack this thread with my own personal observations, but when you hear that someone is advocating for "reasonable" regulations, they're really saying they want to open the door to regulating. And once something is taxed or regulated, those taxes/regulations never go away. It is a million times more difficult to repeal a regulation than it is to prevent its introduction.
So if you don't want regulations in your jurisdiction, the trick is to never allow them to see the light of day in the first place. All the work is done on the front end. Otherwise, you just have to live with their results.
This also allows me the opportunity to shoehorn in one of my favorite Abe Lincoln quotes - "The best way to get a bad law repealed is to enforce it strictly."
Post: Denver couple face felony charge over Airbnb

- Colorado Springs, CO
- Posts 85
- Votes 144
Prosecutor with over 6 years of experience here (including prosecuting a real estate-related fraud case):
Setting aside whether or not this is a JUST law (and not to be a keyboard warrior), but I don't imagine the people saying the charges will never stick have ever put anyone in jail and/or defended anyone in a felony case.
Without knowing more facts than what has been presented here, there is probably not a problem with making a prima facie case against them (the public official being the planning office, the influence being the deceit on an affidavit, the public servant's decision being whether or not to grant the license...). You can argue about whether or not the law is a good one, but not whether it applies in this case. And in all likelihood it does.
The whole reason I'm writing this reply is not to say "You're a bunch of dorks who don't know what you're talking about." My point is that some people may be encouraged by thinking "If they aren't convicted, it's all probably okay and I'll take my chances." Just the court/attorney's fees alone can be crippling. Try adding those into your BiggerPockets Calculator (TM, probably).
Upshot: Don't get cutesy with the law.
Post: RE Attorney in Charlotte NC

- Colorado Springs, CO
- Posts 85
- Votes 144
I know this is old, but I'm looking for an attorney in NC myself (I'm an attorney licensed in Virginia, so I know better than to try to figure out another state's laws).
I looked up the above-referenced Dale Fussell, and just so everyone is aware and can take from it what they will, Mr. Fussell is currently pending a disciplinary hearing from the NC Bar with 12 claims for relief. Link below, so you can consider it yourself.
https://www.ncbar.gov/handlers/FileHandler.ashx?id...
Just thought I'd make everyone aware, since it's relatively recent.
Post: New to Colorado Springs

- Colorado Springs, CO
- Posts 85
- Votes 144
@Troy Donovan - welcome! Glad to have you here. I bet your web/tech stuff brings a lot of value and a unique perspective to an underserved aspect of REI.
+1 to attending the REI meetup that @Colin Smith talked about. Smart move. I can never attend because my day job prevents me from getting out there on time, but when I was able to attend the people were great and welcoming. You'll love it.
Post: Western Slope - 9.5% CAP Delta, CO (69k) (Owner Finance poss.)

- Colorado Springs, CO
- Posts 85
- Votes 144
@Scott Elkins - Interested. Sent you a PM.