All Forum Posts by: Daniel Haberkost

@Donald Styles Do you attend local RE meetups? That is where I found mine several years ago.

If you spend time networking at RE groups that is likely your best bet for finding an experienced investor who could use help somewhere in his/her business. I would advise against going around asking people directly to be your mentor. You need to find where the person needs help in their business and fill the need for them.

-Dan

@Patrick Hanes sounds like a good plan to get started and the one at 3rd space coffee the 1st and 3rd Tuesday of every month has been useful for me.

-Dan

@Cedrick Pierre all of my tenants have been in that age range and they've all had plenty of furniture. Naturally, I would expect that the older the tenant the more furniture they'd have but that's not necessarily the case. And okay, the biggest piece of advice I could give is to be THOROUGH on your screening process and be extremely upfront with your tenants as to what your expectations are.

@Patrick Hanes welcome to the forums! There are several great meetups in town that are worth going to. What areas are you looking to buy in?

@Cedrick Pierre  

Perhaps your tenant base is different than mine, but I absolutely would not furnish the house. I purchased some furniture for my home before finding tenants and if I were to do it again I wouldn't buy anything other than a kitchen table. Every tenant I've had owned their own furniture and the last thing I/they needed was more stuff in the house. 

I have several friends who house-hack here as well and they've had the same experience. In fact I had one friend who did completely furnish his house and he's found that it was a waste of money. 

Now, as the person above me said, if the tenant base in your area is mainly tradesman who will only be there for 6 weeks then maybe you should furnish it. But personally I wouldn't be that excited about house-hacking if I had to replace tenants every 6 weeks anyways. 

-Dan

@Erin Spradlin I house-hack in The Springs and it's been phenomenal. I have a 4/3 in village 7 and my tenants cover the mortgage/utilities along with my gas/food bill every month. I've also found that if you put the work in up-front with screening and setting expectations it's not difficult or uncomfortable. I hardly see them and they keep the place very clean. 

-Dan

@Nick Rutkowski I’m two deals in as I have a duplex and a single family home that I’m currently in and house-hacking. I’m already pre-approved for another house (I’m going to just repeat the process) and the home across the street from mine (in a quiet curl-de-sac) just came on the market so that may be what I buy next.

My more active ventures in real estate involve putting development projects together an hour south of me in Pueblo west. This has been invaluable as one of the builders I use is going to build me a duplex at a significant discount next year and finance it for me. So I’ll have immediate equity, it will cash flow, and it will be 0 down.

I’m 23 btw, age is irrelevant.

And yeah that part of the country is beautiful, warm, and cheap, not a bad place to live!

-Dan

@Nick Rutkowski

1.) Getting started was very easy as I began with a house-hack, but continuing to acquire properties has been a challenge (but that’s okay!) and I’m making steady progress.

2.) Facebook.

3.) Millennials are flocking here to CO Springs.

4.) Several investors that I work with (who are much older than me) have made significant amounts of money with land and storage units so those both interest me as potential future investments.

-Dan

@Alex Schumer I have to second @Jess Kinzel, Craigslist has been a good source for finding investors for myself and several of my friends.

Also, local RE clubs have been good.

Believe it or not I actually feel far more energetic throughout the day when I get up at 5. I think it's because when I do get up at that time I always workout or go for a run which is one of the best things you can do in the morning. I don't really sleep past 4:30 anymore anyways!