New to Real Estate · CO · Member since 2023 · 20 posts · 23 votes
Hello!
I currently live in Boulder County and I am looking to continue investing journey in Colorado. Specifically, my focus centers around LTR in the Colorado Springs (lived there from 2012-2017 while I was in the Air Force) and Pueblo areas and am in it for the long game. I currently have one rental property in the north end of the Denver Metro area and i'm hooked! I'm eager and willing to learn as much as possible from this awesome community!
I'm New to Bp and REI as well. I'm currently in the Springs area , also where i will be investing. I'm Ex Army been here sense 2012 was active duty 2005-2011 ( deployed to Iraq twice in support of OIF)
House Hacking Specialist · Denver, CO · Member since 2016 · 411 posts · 396 votes
3y
@Xavier Leal Lots of great feedback already in this thread. Being a newer investor, would give house hacking a strong consideration.
When I look at overall success rate for newer investors executing on strategies, house hacking has one of the highest conversions when compared to all of the other strategies out there (traditional rentals, wholesaling, flipping, brrrr, etc). Simple to execute on and low (relatively speaking) capital to invest.
@Xavier Leal Lots of great feedback already in this thread. Being a newer investor, would give house hacking a strong consideration.
When I look at overall success rate for newer investors executing on strategies, house hacking has one of the highest conversions when compared to all of the other strategies out there (traditional rentals, wholesaling, flipping, brrrr, etc). Simple to execute on and low (relatively speaking) capital to invest.
Thanks for the house hacking YT videos @Ben Einspahr! I'm certainly going to take a deeper look into house hacking. It's something I've kept in mind but didn't think I'd utilize it. Now that many on BP advocate for it when first starting out, it might be the best move to make.
Cleveland, OH · Member since 2022 · 811 posts · 578 votes
3y
Xavier,
First off, thank you for serving in the Air Force.
Secondly, I concur with what Ben said. Look into house hacking as a potential strategy.
It's a great way to save on living expenses while learning to rehab your own property while you live there. If you owner occupy, you can take advantage of low money down. Just consider the money you need to have for closing costs and reserves.
Real Estate Agent · Pueblo, CO · Member since 2022 · 10 posts · 9 votes
3y
Hi Xavier,
Welcome! I am an investor/realtor living in the Pueblo market and I also service the Springs. I mostly help with investment properties so please feel free to reach out. I am constantly watching multi-family and any property that has a finished basement with walkout to share with my clients. I am currently renovating a 4 plex down here in Pueblo which I would be happy to share what I've learned! Let me know how I can help you - happy to send you videos or walk properties with you on video if you like. Reach out anytime as Pueblo still cash flows nicely in a lot of cases.
Welcome! I am an investor/realtor living in the Pueblo market and I also service the Springs. I mostly help with investment properties so please feel free to reach out. I am constantly watching multi-family and any property that has a finished basement with walkout to share with my clients. I am currently renovating a 4 plex down here in Pueblo which I would be happy to share what I've learned! Let me know how I can help you - happy to send you videos or walk properties with you on video if you like. Reach out anytime as Pueblo still cash flows nicely in a lot of cases.
Real Estate Consultant · Denver, CO · Member since 2021 · 661 posts · 389 votes
3y
@Xavier Leal Whenever you purchase property, be sure to get a good no-cost cost segregation estimate. This can help you increase your tax benefits and increase your cash-flow for rehabs or additional purchases. Have you done a study on the property you own in the north end of the Denver Metro area? That property could give you some extra capital to help with the crazy interest rates right now for a new purchase. As you begin your investment journey, tax strategy becomes more and more important. Getting estimates before you make that final purchase can give you a great idea about how much you can expect in benefits on a specific property. Let me know if I can help or answer any questions...I am in the Denver Metro area as well.
@Xavier Leal Whenever you purchase property, be sure to get a good no-cost cost segregation estimate. This can help you increase your tax benefits and increase your cash-flow for rehabs or additional purchases. Have you done a study on the property you own in the north end of the Denver Metro area? That property could give you some extra capital to help with the crazy interest rates right now for a new purchase. As you begin your investment journey, tax strategy becomes more and more important. Getting estimates before you make that final purchase can give you a great idea about how much you can expect in benefits on a specific property. Let me know if I can help or answer any questions...I am in the Denver Metro area as well.
Thank you for the tip Bonnie! I have not done a study on my property yet.
I'm New to Bp and REI as well. I'm currently in the Springs area , also where i will be investing. I'm Ex Army been here sense 2012 was active duty 2005-2011 ( deployed to Iraq twice in support of OIF)
Welcome to BP and to REI. The Springs aren't a bad place to dive in to investing. If you don't already own something, I'd make your first investment your primary residence. If you want to mix the primary w/ an investment, then you can house hack -- either by renting out rooms or find a place with a basement that can be locked off to rent separately.