All Forum Posts by: Brian Beltrani

Thank you everyone for reaching out. I will definitely use the advice already given here in this post from everyone about the Bigger Pockets website, forums and guides! Seems like I came to the right place to get some help in starting off! 

Hey Bigger Pockets Members!

My wife and I are rookies in Real Estate Investing and we are in the education/absorbing information phase. We recently moved from the East Coast to the Denver Metro area to plant roots in such a great part of the country. We are currently renting but would love to buy a BRRRR rental property and a our first own property which we would love to house hack. We are very excited to learn and engage with everyone here on Bigger Pockets as we start our journey.

Our market is going to be here in the Denver Metro area as well as thought about looking towards Fort Collins or Colorado Springs for investment property. Best way we think of learning the process is starting by getting our own hands dirty and learning from the ground up!

Hey! Reading your post here? How did you finance this deal and How much did you put down? I know you said 60k was cash portion so I was wondering if that was with down payment or if it was just the rehab costs? What are your current numbers for this condo in regards to expenses vs income?

Thanks for the insight @Jon Crosby

@Dennis M. Thank you for reaching out. Can you explain the one percent rule to me? I have not seen this before. We were aiming for >8% Cash on Cash and at least 100 per unit return. 

@Jaysen Medhurst Thanks for the input. Especially with the including management even though we are going to be doing this ourself. To answer your questions

1) I think that with the area especially near the local medical school and looking at comps in the area another 10% with minor improvements (Paint, minor bathroom/kitchen changes)

2) Great question I did the 70% rule minus rehab for that price. It seems that the market has slowed down recently even with it becoming more of the hotter time frame for sellers in the spring time. As well it has been on the market for over 3 weeks. 

3) I did account for an adjustment in taxes of around 300 dollars more looking at the history of the real estate tax. 

Is there any tips you experts have at finding pre/foreclosure on the MLS? I'm finding when I use Zillow or mainstream website they are obviously not the most up to date with this information.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

My wife and I are looking to do our first deal. We came across this Triplex in a Hot market with very few multi-families on the market. Let us know what your thoughts are right off of this and if I can answer any questions. Thanks!

Great Job! Nice to see new guys getting into the world of real estate with a positive experience. Keeps hopes for our search high!