All Forum Posts by: Travis Sperr

@Jeff Martin 

Call John Booth/Marni Morgan - Associated Agents (303) 991-7180

No one better in Colorado

Different opinions and theories on coverages and riders. I insure my rentals for as much as the insurance company will allow using their software. Limits are typically increased annually.

Call John Booth/Marni Morgan - Associated Agents (303) 991-7180

No one better in Colorado.

@Barshay Graves I did intend to occupy one of the units and did long enough to meet the HUD guidelines before turning it in to a straight rental property. There are two places a FHA loan will cost you more money - some of the fees in origination and also in Mortgage Insurance (which was recently lowered). But there are very few ways to get into a property with as little as 3.5% down and borrow the repair money. With the 203k loan, if your budget with contingency is less than $35k you can even roll the payments into the loan through the rehab time. With all of the positives, the additional costs doesn't matter much compared to the opportunity. I am seeing some conventional rehab loans on the market now, which may be a little less in fees.

@Charles Marchiondo  Brian Geick 720-261-0491

I have been working with him for years  - installs and service calls.

@Bill Coleman 

Evict, cant pay now, he wont pay later. Try 

Springman, Braden, Wilson & Pontius, P.C. 303-685-4633 opt 5 - Kali - Evictions Manager.

Priced right and do a good job, but they do require a consultation prior to taking the file.

@Barshay Graves  Need to be careful with this. The 203k loan is an owner occupied loan, not intended for purchase of investment properties. You can buy up to a 4 unit/Fourplex with a 203k loan, live in one unit and rent the rest. 

With that said, I used a 203k streamline loan to buy my first property a triplex I lived in one unit and rented the other two for a couple years. The loan is not that difficult to use, you have to understand construction and/or have a contractor you really trust. Typically the 203k lenders have preferred contractors they can provide you with.

Price point is everything in the quality/cost of photos. My iphone takes good enough pictures for a $1,250 per month rent. If you are in a higher price point, $2,000 or more, i still don't know that it justifies a professional photographer, maybe do it once and use it when ever you have a turnover. Pictures are important to save both you and the prospective tenants time. 

Properties listed for sale, all price points justify professional pictures. The cost is minor compared to the quality in the listing.

@Austin Snow  I self manage 10 properties in Denver, shoot me a note and I will help you out.

Firm but fair, remember investing is a business and stick to your polices - don't have policies? Create some.

With your property being an hour from you, try to do some networking to find good vendors now rather than when you really need them, in a hurry, on a Sunday morning.

Best of luck growing your empire!

@Jared McKie  Best of luck as you get going. Our company funds a lot of deals in the Twin Cities and also host some free educational events. Let me know if there is anything I can help you with.