Offer accepted on 3rd property! Woot!
Super excited to announce we will be closing in September on our 3rd property! We will be moving out of our current house into the new house and renting the house we are in now. Both our current houses (in the Northern Colorado directly in the middle between Denver and Fort Collins right off I-25) have a ridiculous amount of equity now. We are considering ( May 2021) selling (possibly both) and taking our equity and purchasing a multi-family. Probably have around $300K to put down if we sell both properties.
Why go to multi-family? We want to invest in something that has more cash flow. Issues? I tend to be the person who has high level vision with extreme ADD, so sometimes drilling down into the details can be a challenge, but, not something I cannot overcome as I have my own company and am crushing that for the first two years in business - so I can focus.
I guess I have about 8 or 9 months to drill down and figure out location of where to invest (either CO or AZ is where I am thinking, possibly TX), what size multi-family and trying to educate myself on what that will look like for us....
I do have a question - How long has it taken any of you who have purchased a multi-family - from identifying through closing, and fixing any repairs etc, to 80-90% rented?
Thank you!
Jennifer