Nomading in Denver Metro?

Question

Hello! My wife and I just began our journey in REI here in Denver. We are moving in a few weeks into our 2nd property and renting our current one. We plan on doing this again possibly next year, and maybe continue this model for the foreseeable future. We have some private investors that are interested in helping with each house we move into. Possibly holding each house after we move out for 4-5 years. I wanted to see if anyone has any input for us. Anything we should be thinking about or anything we should be aware of using the nomad model. Any help would be appreciated. Thanks!

Michael DeAquino · Answer

@Matt M. oh, should I change my title? I totally don’t know how all this works.

Can you explain a little bit more about low down conventional?  what is the expectation of a lender? I wouldn’t be able to give any sort of return until I sell. I guess that’s why I was thinking 15%.

Matt M. · Answer

Do you need investors? Why not just do low down conventional. 15% is too much. You can get hard money lower than that.

Also, be careful using the term in your title. Apparently it's trademarked..... lol.

Michael DeAquino · Answer

@Ben Brown Moving out of a SFH into another SFH. We actually landed with a turnkey ready home, built 3 years ago. Our current home was built 5 years ago. Yes, LT rental because the Denver area I live in doesn't allow ST rentals. We already have renters lock and loaded. Getting $650 over what we owe on the mortgage. Investors are family members. It might be tricky dealing with family but I find it more tricky finding investors with other people.

The thought would be to sell houses after 5 years and begin more of a hybrid strategy. Possibly buying an investment property and do ST rentals in an area that allows it, and/or getting into multi unit apartments.

I guess I was seeing if anyone sees any holes/red flags in what I'm doing. Or can prepare me for anything I might run into in the future, for example, tax implications.

What do you mean by "joining a mastermind"?

Ben Brown · Answer

@Michael DeAquino, it sounds like you have a good strategy going for you! I am also here in Denver but using a different strategy. I may go towards your strategy down the road or it may be a hybrid. Advice, for now, is to stick with what you know works.

Otherwise, we'll need to have more info from you to give any advice.

• More on... What you are moving out ofWhat you are moving intoDo you have renters? LTSTInvestorsWhat type of investors do you currently have (family members?)Are you considering other investors
• What you are moving out of
• What you are moving into
• Do you have renters? LTST
• LT
• ST
• InvestorsWhat type of investors do you currently have (family members?)Are you considering other investors
• What type of investors do you currently have (family members?)
• Are you considering other investors
•

• What you are moving out of
• What you are moving into
• Do you have renters? LTST
• LT
• ST
• InvestorsWhat type of investors do you currently have (family members?)Are you considering other investors
• What type of investors do you currently have (family members?)
• Are you considering other investors
•

• LT
• ST

• What type of investors do you currently have (family members?)
• Are you considering other investors
•

A lot more to be shared/learned. Joining a mastermind might be the way to go.

•

Michael DeAquino · Answer

@cody Im still in the process of figuring that out. Possibly 12-15% ROI after 5 years. yes, something like that. rehab while living in the property and then rent it out.

Cody Benedetto · Answer

Michael, love the creativity! Very curious, how are you planning to structure the deal with investors? Are you planning to rehab while living in the property and then moving out and renting shortly after?