All Forum Posts by: Aaron Moore

Hey Michael, have you checked to see if you can do a low/no fee rate and term refi with your current lender? If not, you well know that under $250-300K is a gimme right now for resale in The Springs

Hey Justin Loa congrats on taking the first steps, and welcome to BP! I know REI can be intimidating at first, but once you get going I promise it's really not scary at all. I'm always happy to grab coffee and talk real estate investing. Feel free to me a shout if you want to connect in the next few weeks.

Kyle Myers that makes sense...sorry, I made a few assumptions. If you are going to move out of state, I would definitely sell and buy something that has stronger cash flow. Especially since you will be an out of state owner, and being in Manitou I'm assuming it's an older house, which will have consistently higher maintenance cost that will quickly eat into the already small cash flow of the property.

Hey Kyle Myers , I think the first question you have to ask yourself is whether you would rather have the long-term cash flow or an upgraded home for yourself. My initial thought is that $3-4,000/year cash flow at that price point is not super exciting, but your cash in is also pretty minimal. Keep in mind that if you are using your VA for the second purchase, that you will be capped at the $417K total loan amount(both properties combined) l, which will dilute your purchasing power on house #2 substantially. Other than that, the price point of your next home will be another factor. As you probably know, under $300K her in The Springs is really competitive, and you may not gain a ton of value with a sale and re-purchase in that price range unless you get a real fixer (which you may want). If you go into the mid/upper $300's or $400's there is a little more opportunity for value. If you want to dig into more specific numbers on your house, feel free to give me a shout.

Hey Ed C. , feel free to give me a shout any time of you want to dig into running comps and pros and cons of the different areas of town. Congrats on getting started!

Hey Mitchell Williams , welcome to BP! If you have any questions about the COS market specifically, give me a shout any time.

I second the recommendation for Peak. Dylan is awesome

The free house option is a great idea Bill. Rob Nichols , I believe demo should fall under a general contracting license at PPRBD, so any licensed GC should be able to do it. Try Shane at 964-1027, I've never asked him about demo but you can see if it's in his wheelhouse

Welcome to BP James. You've found one of the most powerful resources for a new investor...unlimited fee advice! If you have any questions about the Colorado Springs market, or want to brainstorm as you prepare for your transition, don't hesitate to give me a shout.

Yes. Make sure you buy with some margin under market to begin with so you aren't stuck if the market flattens. Get your agent to run comps for you in 13 months to see how it's looking (inside of 12 months your original purchase could theoretically be used as a comp against itself)