All Forum Posts by: Dianne S.
Dianne S. has started 1 posts and replied 20 times.
Post: Cities with multifamily properties that are also good to live in?
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
Hi Shayna! I live in Fort Collins and while the supply of smaller multifamily units isn't huge, they are around. We absolutely love Fort Collins as a smaller city with huge amenities (easy outdoors access, great infrastructure, thriving Old Town district, college town, hopping music scene, etc.). I lived in Capitol Hill in Denver at one point--there are a number of multifamily properties in that general area but it's gotten pretty pricey.
I grew up in Missouri and would agree with @Scott Martinsonthat KC is a great area and the values are definitely there. I would also check St. Louis--lots of multifamily buildings in some cool areas like the West End.
I'm with @Jonathan J. Miller-- Colorado is awesome.
Post: Colorado Cashflow
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
Welcome, Brian! Just arrived here at BP myself not too long ago.
Post: New member from Northern Colorado
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
Originally posted by @Account Closed:
Hi Dianne,
Welcome to BiggerPockets!
Hi Michelle--thanks for the welcome!
Post: New member from Northern Colorado
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
Originally posted by @Earl McFarland:
@Dianne Stober
I manage all of my own properties. Prefer quality over quantity. So I like to buy A-/B+ units. It also provides a better clientele. PM are fine for some but manage my own for now. Trust your own instincts and judgement! Maybe if I can get 10+ units it may change my thinking. In this current market the demand for rentals is good and you should have lots of good people who want to rent from you.
@Earl McFarland
Thanks for responding--sounds like we have similar views / goals. We're looking to buy 1-2 properties that are A-/B+ and manage ourselves. I think that will help me learn the ropes more fully and I'm pretty hands on. Like you, if we get to a certain threshold of properties, then we may look at other options for PM. The forecasts for population growth in NoCO leave me pretty encouraged, especially for appreciation. Thanks for the encouragement!
Post: New member from Northern Colorado
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
Originally posted by @Duke Marquiss:
You can also try Cheyenne for rental projects. We have renovated 25 to thirty townhomes there and still have 26 that we are renting out and financing into a long term hold.
The rental market is good and the dollars spent are less. Still make sense.
Thanks--that's definitely something to think about. What made you decide to rent them and do a long term hold rather than flip most of them?
Post: New Member for Fort Collins, CO
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
@John Scheving, welcome! I'm in the Fort too and just landed here at BP recently myself. I've been consulting to high risk industries, including oil & gas, for many years on the safety side of things. It's been a really rough time. All the best in your career transition!
Post: New member from Northern Colorado
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
Originally posted by @Earl McFarland:
Welcome to No Colorado, we have become very popular (anything on the front range) over the last 3-5 years. I've owned rental investment property for 10+ years, own 6 units (condo/townhomes), in Loveland and Greeley. In general Greeley is a better cash flow market. Loveland and Fort Collins offer much better appreciation. You might want to look at RE markets in Windsor, Eaton, Johnstown/Milliken, and Longmont. Good Luck!
Hi Earl, thanks for your input! We are prioritizing appreciation, so thanks! When we get our first couple of deals under our belt, I definitely see us expanding our range.
Do you manage yourself or do you use a PM?
Great community here!
Post: New member from Northern Colorado
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
Originally posted by @Micki M.:
@Dianne S. Welcome to BP, it's a great community and a great resource as you can see already. We have a couple awesome meetups in the Denver area and there is one for Northerners like yourself. You can check it out here https://www.biggerpockets.com/forums/521/topics/262222-north-denver-colorado-january-20th-meetup---new-day @Dan Mackin can update you on future dates.
Thanks, Micki!
Post: New member from Northern Colorado
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
Originally posted by @Mark Ferguson:
Originally posted by @Dianne S.:
Originally posted by @Mark Ferguson:
Originally posted by @Dianne S.:
Originally posted by @Bill S.:
@Dianne S. welcome. You should connect with @Mark Ferguson who is up your way. He has an interesting conversation going about buy and holds.
You should read and do the work of the Ultimate Beginners Guide
I wish you well in your investing endeavors.
Hi Bill S! Thanks--I have been following @Mark Ferguson's post about buy and hold in Colorado. There's some great comments there--and I also still see value in buying, even though it's a brisk market. Given the projections for home values in Fort Collins to trend towards Boulder's, there's still room with a strong economic outlook for appreciations. We want cash flow, but that's not necessarily our #1 goal. @Mark Ferguson--do you have any rentals in FoCO?
@Bill S--the Ultimate Beginner's Guide is a great one, I'm already through it. :)
Thanks for your encouragement!
Dianne
I don't have anything in Fort Collins. I have a harder time cash flowing there than greeley. I can't find anything in greeley either.
Hi Mark,
I really enjoyed reading the debate and comments on your post about buying / holding NoCo properties. Yep--it's going to be a bit hard to find SFH that have a lot of cash flow here but as I get started, having rentals close by and that look good on the appreciation front are most important to me. I saw a forecast that showed a comparison of similar homes built by the same builder in the 50s and what they sold for in 2015 in Boulder, Fort Collins, and Greeley. Given the stable communities and relative low supply / high demand in Fort Collins, seems like buy and hold can still make good sense. Particularly if I'm looking for appreciation without as much risk as a distant market I don't know and having to deal with property management from afar. What's your sense as you've been digesting all the comments?
It's great connect with you here.
Dianne
I only invest for appreciation if it comes with string cash flow. Our markets look good, but I'm not smart enough to know of they will keep going up as fast. In fact I doubt they can keep going as strong as they have been.
Your point is well taken on whether the market will stay as strong as it has been. And I see some of the shakiness in Weld County with oil & gas being in the tank as it is. Here in Fort C the economy has stayed strong and people still are moving here. I'll keep following your thoughts for sure!
Cheers,
Dianne
Post: New member from Northern Colorado
- Investor
- Colorado Springs, CO
- Posts 20
- Votes 3
Originally posted by @Derik S.:
Have you dealt with multi-family housing (apartments) at all? That's the niche I'm looking at jumping into, while quite possibly exercising the strategy of buying and holding.
I haven't done anything with MFH. We've had commercial property and are now moving over into residential. I'm targeting SFH at this point with a buy and hold goal.
Good luck and let us know how it's going!