Newbie from Colorado Springs
Hi my name is Jenn. My husband and I are currently living (house hacking) in Colorado Springs after traveling the country for 4 years in an RV. I've been around real estate my whole life (my dad and grandpa are land developers in the Indianapolis area) but until recently never had much interest in it. My husband and I refinanced our old house in CA in 2005 to fix and flip a house down the street. Given the year you can guess how that went. ;-) We finally sold that second house last year for a loss but took what we had left after the sale and bought a duplex out here in the Springs. We love house hacking so far...tiny mortgage and our tenants have been great. Our first house in CA is in escrow after renting it out for the last 11 years and we are getting ready to do a partial 1031 exchange. My head is about to explode crunching numbers. Both my husband and I are more creative types running a web design and media company but we are doing our best to educate ourselves this round. Currently we are going back and forth on whether to reinvest in the Springs or Indy. I think the numbers look better in Indy but we would like to stay where we live. Anyway we are mostly new to this...or at least new to researching and learning about real estate instead of being impulsive...and I'm loving the Bigger Pocket site and just read one of the books on rental properties. Anyway hi from Colorado Springs.
Most Popular Reply
@Jenn N., depending on your goals of taking an active or passive role with your real estate investments, if you're an accredited investor and you decide to 1031 exchange, you might consider reinvestment into DSTs. They are hands-off, institutional grade real estate investments, and they allow you the option to diversify. Professionals with decades of experience and very impressive track records do all the heavy lifting for you. You get potential cash flow, tax shelter and appreciation. Loans are non-recourse.