All Forum Posts by: Craig Curelop

Welcome to BiggerPockets @Stephanie James!

Great to have you here in BP community! This is the right way/approach learning your REI!

Yes, learn as much as you can here! Keep on with your Real Estate education by browsing, reading, listening, building your network and completing your BP profile too (which is a priority while you are here). Connect with other members too esp in your target area, Chicago IL to learn from their success stories and experiences and possible partnership. I am sharing with you some of my initial recommendations:

   1. Subscribe to the BiggerPockets Money and Rookie Podcasts

    2. Attend the FREE WEBINARS

   3. Attend a Meetup in Your Area

   4. Purchase the Beginner Books at store: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

    5. Peruse the forums! Ask questions! Answer Questions!

Good luck in your RE investing! Keep safe/healthy, and see you around the site!

Best regards,

Welcome to BiggerPockets @Jeremy Garcia!

Great to have you here in BP community! It's a good way and approach to start your REI journey at young age!

As you are still studying, I encourage you to stay here in BiggerPockets! Keep on with your Real Estate education by browsing, reading, listening, building your network and completing your BP profile too (which is a priority while you are here). Connect with other members too esp in your target area to learn from their success stories and experiences and possible partnership. I am sharing with you some of my initial recommendations:

      1. Subscribe to the BiggerPockets Money and Rookie Podcasts

      2. Attend the FREE WEBINARS

      3. Attend a Meetup in Your Area

     4. Purchase the Beginner Books at store: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

      5. Peruse the forums! Ask questions! Answer Questions!

Good luck in your RE license whenever possible. Keep safe/healthy, and see you around the site!

Best regards,

@Jeremy Garcia

Welcome to BiggerPockets @Adam Weisenburger!

Congratulations on your first post and pro membership, the right way to start! I am glad that you are here in BP community! 

Keep on with your Real Estate education by browsing, reading, listening, building your network and completing your BP profile too (which is a priority while you are here). Connect with other members too esp in your target area, Twin Cities to learn from their success stories and experiences and possible partnership. I am sharing with you some of my initial recommendations:

   1. Subscribe to the BiggerPockets Money and Rookie Podcasts

   2. Attend the FREE WEBINARS

   3. Attend a Meetup in Your Area

   4. Purchase the Beginner Books at store: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

   5. Peruse the forums! Ask questions! Answer Questions!

Good luck in your first deal. Keep safe/healthy, and see you around the site!

Best regards,

I think 7% vacancy and 8% for repairs and capex each are extremely conservative. You HOA will take care of a lot of the capex costs. Roof, exterior, and any main plumbing/electrical lines that run through multiple units. Though, one thing you will want to make sure you have reserves for is any special assessments they lay on you.

Rents won't fluctuate nearly as much as purchase price will. You will just want to be sure to have some buffer. At the end of the day, I think you'll be totally fine with this investment. You won't go broke and you won't get super rich. Keep piling these on and you'll increase your chances of getting rich over the long haul! 

@Noah Gregory - Yeah man! I have gotten rooms filled without too much of an issue. 

I have clients that have gotten their rooms filled too. People are still moving around and need a place to live. It might take a little longer or you might have to drop the price $25 or $50 or so... but $25 or $50 less a month is much better than crazy high vacancy rates. 

@Cj Villanueva - Rentometer is great! Sounds like you got yourself a pretty good deal there so long as it's in a decent neighborhood in Aurora. A duplex for $338k that doesn't need much work? Sounds like a win! 

Congrats on the deal! 

@Kyle Douglass - In Denver, you aren't going to just find a 2-4 unit that can be rented out and will cash flow swimmingly. You'll need to find yourself a very good deal by driving for dollars, sending out mailers, etc. 

Otherwise, you can get creative and purchase a single family home and rent it by the room. 

@Steven Eastman - I do agree with many of @Chris Lopez's points on the details of your analysis.

This looks like an "okay" deal. Personally, I probably would not act on something with a 4.24% cash on cash return. Generally speaking, condos tend to have the most volatile prices. So if the market does in fact tank (who knows if it will?), your condo will go down in price and you will be forced to keep it rented. With just a couple hundred bucks in cash flow, you really don't have that large of a buffer. 

I am not saying condos are bad. There are some good ones out there. You just need to have a plan regardless of what the market ends up doing. Additionally, be sure to check the condo's HOA docs. Often times they have rules on rentals such as only X% of the total units in the building can be rentals. As the newest owner of a condo, I presume you will be put at the bottom of that list.

Welcome to BiggerPockets @Rodney Bartruff!

I am glad that you are here in BP community, the best website for your REI journey!

Learning is the key! So, keep on with your Real Estate education by browsing, reading, listening, building your network and completing your BP profile too (which is a priority while you are here). Connect with other members too esp in your target Florida area to learn from their success stories and experiences and possible partnership. I am sharing with you some of my initial recommendations:

        1. Subscribe to the BiggerPockets Money and Rookie Podcasts

        2. Attend the FREE WEBINARS
 
        3. Attend a Meetup in Your Area

        4. Purchase the Beginner Books at store: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

        5. Peruse the forums! Ask questions! Answer Questions!

Good luck in your future investments! Keep safe, be healthy and see you around the site!

Best regards,

Welcome to BiggerPockets @Varun Talluri!

I am glad that you are here in BP community, the best website for your REI journey! 

Learning is the key! So, keep on with your Real Estate education by browsing, reading, listening, building your network and completing your BP profile too (which is a priority while you are here). Connect with other members too esp in your target areas, GTA and Hamilton-Niagara to learn from their success stories and experiences and possible partnership. I am sharing with you some of my initial recommendations:

        1. Subscribe to the BiggerPockets Money and Rookie Podcasts

        2. Attend the FREE WEBINARS

        3. Attend a Meetup in Your Area

        4. Purchase the Beginner Books at store: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

        5. Peruse the forums! Ask questions! Answer Questions!

Good luck in your future investments! Keep safe, be healthy and see you around the site!

Best regards,