Buying a home to live in and convert to a rental later

[Neil Emick]

Hey Everyone, 

My wife and I bought some land and have intentions of building a home in 2 years. We are currently renting, but would instead like to purchase a home that we would convert into a rental once we build. Our goal is to find a home that fits us(that may not be prefect), but will be a wise rental investment. We are just getting started and this would be our first investment property. What should we be looking for? We live in Colorado Springs, CO. Thanks in advance!

[Austin Pollock]

Hey Neil

I have worked with @Tyrell Anderson in the past and I have referred many happy clients to him who have all been highly satisfied in their experiences. He will help you identify the right home for you that will be able to cash flow in the future. He was able to help a buyer get his earnest money back and $9000 in repairs paid to the buyer at closing on a property cash flowing over $400 a month that was rent ready after only $500 in repairs. That same property has over $30K in equity. I also have a few preferred builders in The Springs area as well if you would be interested in a referral there.

Best of Luck!