All Forum Posts by: Tom S.

Congratulations! A lease is extremely important. You can find several good lease examples just by doing a search on google for colorado residential lease. I just did search myself, been a while since I looked. I saw a couple from property management companies in Colorado you can use. It would be a safe bet they have been reviewed by a lawyer. It was kind of how I developed mine. Years ago I used a property management copy to take care of some of my units, so I had copies of the leases. When we parted way I took the contract and modified it a bit to fit my properties. Over time I added things in as they came up, and I've since have had it reviewed by a lawyer about a year ago. Its very similar to the ones you will find by doing a search. As for the BP CO lease, not sure about it. I asked to read it, but was told I have to buy it and that it has a money back guarantee. I'm guessing it's pretty decent since BP is based in CO. I'm guessing though you may not have a lot of money since you are just starting out so a freebie off the net should work just fine. Just review it and make sure you are following local and state laws, federal as well. You can check the colorado tenant landlord handbook for a bit of guidance there, or ask a mentor to look it over once you have it. As for using a lease for rooms, I would use a standard contract. Just make to sure to have a way to easily and properly ID the rooms. You could label them, or use location like, 1st floor east facing without en suite bathroom bedroom for example. Good luck and I'll try to help answer any follow ups.  

Just a thought, you might be able to turn that purchase option on that property you're renting into some cash. You might be able to assign that 20% option to purchase to someone else as a 10% reduction for them. You pocket the other 10% and get some help with your down payment. I know a lot of people in the Denver metro area that would do about anything to get a property with 10% off. Good luck.

nolo.com is a good general resource in my opinion. Turbotenant was putting local info about rentals, not sure if they still are, been a while since I checked. The discrepancies probably come from when the material was published. State and Local websites are your best for up to date for sure. 

I curious to hear from Colorado flippers and how they are doing with flips recently?

Gotcha! I am the seller. I was just checking what's customary in AK, since I live and deal primarily in Colorado. Every market is different. It's really strange that the seller pays for an appraisal for the buyers loan, but this is real estate.....and yeah. Learn something new everyday it seems. 

Who do you guys use for evictions? Or do you do it yourself? What are your average costs? Jorgensen, Brownell & Pepin, P.C. was the last I used, worked out good. Easy to work with, bit spendy though from what I can tell. 

Great write up, it took me about 30 days for my last eviction in Loveland. I had a lawyer take care of everything, I just showed up when the Sheriffs did. They went in weapons drawn with a K9 because the guy had a couple of warrants. Fun times.

Hi all, I'm looking at doing a FSBO in Eagle River. My question is about escrow, in AK what is the custom for who picks the escrow company? Seller or buyer?

What about appraisal? Is it typical for seller to pay still? Thank you!