All Forum Posts by: Andrew Vascassenno

Looking for a property manager for an AirBNB in Bailey Colorado. Who do you know?

@Heidi Emmendorfer if you are strictly getting it to gain access to the MLS I would try to find a broker that charges no/low monthly fees and charges a fixed fee per transaction.

In terms of studying, taking, and passing the exam, I used CE Shops online course for my exams. Easier to do on your own time and they usually run some kind of sale on the licensing course (I’ve seen upwards of 40% off).

Not sure how many agents you’ve talked to in your area but it may be worth it to talk to a few that have experience working with investors or are investors themselves. May not be worth the time to do all the studying, take the exam, and pay all the fees that come with getting the license. Might be easier to just partner with a few good agents, wholesalers, or other investors to find good deals.

@Alex Pickles welcome to the community! Definitely agree that there is so much more information here than a real estate licensing course, especially when it comes to investing. So many good episodes covering all sorts of topics

Sounds like we’re in the same boat in terms of travel. I was on the road 90% of the time at my job right out of college and two years in I couldn’t take it anymore. It was great for saving money but all the flights back and forth and hotels got old quick.

In terms of what you should do next, it depends on what work will look like (among other personal preferences/goals). Are you still traveling for work? If you are, sounds like a good opportunity to save a lot of money (if your company is paying your travel expenses of course). Is this fifth wheel what you use to travel for work? In my opinion, if you were to work in Denver and not have to travel anymore/travel very little, I would consider selling the 5th wheel. Depending on what kind and how old, you may still be able to get a good amount for it to put down as a down payment. I'm also guessing there's a pretty nice truck in front of that fifth wheel too that you may not need anymore if you were to sell the 5th wheel and get a more practical daily driver. Either way, with your income, sounds very doable to do a low down FHA or conventional and house hack

Hope this helps and good luck! 😁

Great points @Chris Lopez!

@Daniel Dixon coming from AZ (pretty sure zero basements) to CO, there are a good amount of basements to potentially house hack. Plenty of options out there for an up/down duplex (although these are pretty pricey). Just need to do your due diligence in regards to the zoning, conforming/legal rooms in the basement, and the potential cost to convert a basement to a separate livable space if you’re going that route, among others.

@Justin Makkay The entire Denver metro area and Colorado Springs, even been hearing a lot of people starting to look as south as Pueblo for deals. With house hacking, you can mostly make the numbers work if you put enough down. I would start looking now in different areas of Denver just to see what’s out there in terms of multi family and maybe an area you’d like to live in. Depending on where you work, the Springs could be a good option too if you don’t mind a decent commute up to Denver.

@Dillon Kiley Hey Dillion! Welcome to the group and sounds like you’ve been doing a lot of research. As someone who also went through college, collected a good amount of debt, and later joined the rat race, I see where you’re coming from. Sometimes I wish I went straight into entrepreneurship right after high school, but live and learn. I’d say if you’re almost done, no harm in finishing it out and have that degree if you ever decided you want to use it. As far as investing in the Denver market is concerned, I’m a firm believer that time in the market beats timing the market every time. Look at the case Schiller index (historical home values), and you’ll see that even with the couple blimps, values always go up. If you plan on getting into something and keeping it for 10+ years, I’d say it’s always a good time to get in as long as the numbers make sense from a cash flow perspective.

Hope this helps!

@Nicholas DiPasquale The CE Shop was pretty good for me. A couple hiccups during the course but their IT support was pretty quick. Plenty of questions to go through to practice.

@Marcus L Roberson A lot of people like to throw out how many agents are out there. No matter where you go, when the markets hot, there will be a lot of agents. The majority of agents only sell a few houses a year. There’s also a lot of property managers, contractors, etc that have their license to sell their own properties. What I’m trying to say is, don’t let the amount of agents stop you from doing it.

With the average price point in Denver being in the $400-$500k range, you really don’t have to do a lot of business to make six figures. As long as you’re committed to it and really put the effort in, you can be successful. It requires a lot of upfront work, networking, cold calling, door knocking, etc to get going but eventually it will all start to snowball.

Hey @Paul Graham, as the others have said, welcome to the BP community. Great place for resources and the opportunity to network with like-minded individuals. Another route you can take is the live in flip @Tyler Work mentioned, but instead of converting to a rental, you can live in it for two years and sell it once you hit that two year period to take advantage of the Section 121 tax exclusion (exclude $250k of capital gains if filing single, $500k if filing married jointly) in the hopes of capitalizing on some good appreciation along with the value you add by renovating. However, this also requires a cooperative partner as @James Carlson mentioned as you will be potentially moving every 2 or so years. Sounds like you're going more of a buy-and-hold route though, but thought this would be some information to consider!

Hey everyone,

I have been on BiggerPockets now for a couple months or so, so figured I would take the time to introduce myself. I am a newly licensed CPA and REALTOR in the Denver market excited to get started in real estate investing myself but also to help others get involved. I caught the REI bug shortly after graduating from college as I saw the potential wealth building opportunities it has to offer. I enjoy long walks on the beach, making snow angels, etc. Just kidding, but I do enjoy being outside (hiking, backpacking, mountain biking, dirt biking, camping, etc) which makes Colorado the perfect place for me. Anyway, that's me in a nutshell. If you're in the Denver area and ever want to chat about anything, reach out!

Now, I have a question about becoming a qualified intermediary for 1031 exchanges. I have done some research online and read some forum posts on here but still not sure how to get started. I figure the easiest way is to do a 'Rich Dad Poor Dad' situation and work for someone else for free (which I am definitely open for). As a CPA and REALTOR, this seems like a great business to mash up my two professions. Can anyone give some good resources to check out in order to find out the best way to get this business off the ground? 

Thank you, any info is greatly appreciated!