All Forum Posts by: Eric Brewer

@Roy Meyer Apple Pay. So far so good

@Ben Rhodin, @Ryan Riches, @Justin Phillips thanks for the reply and feedback! I agree with your comparison with 2008. I feel it's just simply supply and demand rather than shady banking. I like the HELOC idea. Definitely going to take that into consideration. @Justin Phillips looks like you have experience in lending. We are both worried the lender will not give us the loan on the new build if we keep both houses. Both of us together have no problem affording the new build but separately we can not even with our excellent credit. My house will have almost a years worth of renting experience, her house will not. We would like to rent her house as soon as we move out and into the new one. Any suggestions on how to be more attractive to the lender so we can keep both? Thanks again to everyone for the feedback!

@Nick Cooley thanks for the reply and feedback! I too feel the same way about Denver! Best city in the US!

@Derek Howe - Have you thought about new construction? My girlfriend built a house in the Frederick/Firestone area and in less than a year her estimated appreciation/equity is close to 100k. People in that neighborhood are selling their homes way over asking price. It has a great school in the neighborhood, future plans include a shopping center, grocery store, and medical offices in the up coming years. Everyone has made a lot of good points on this thread but wanted to throw that idea out there. Also curious to see how other REI's feel about new construction in hot markets. Good luck, stay well!

@Ian K. Thanks Ian, really appreciate the feedback!

@Erickson Sainval thank you for your reply and feedback. You make some good points and we will definitely keep those in mind as we get closer to our decision. Thank you!

Hello BP community. My fiancé and I need advice on deciding if we should sell or keep one of our properties in the Denver market. I'm still new to the real estate investing world so please forgive my ignorance in the matter. My fiancé and I will be building a new home soon. Break ground May 20 and it estimated to be a 8 month build. I own a home, which I bought October 2020, with 60K in estimated equity as of today. That home also has renters paying $500/mo over mortgage. Renters signed a 12mo lease in March. So far so good with the renters. She owns a 3Br 2BA SFH which is coming up on her one year mark. Estimated appreciation and equity in her house at the end of 2021 is 80K. Her neighborhood has a great school, there are plans to have a shopping center, grocery stores and offices within the next 5 years. I would like to keep all properties and rent out both. I believe her house will have a lot of appreciation in the future with the upcoming plans and I believe we could rent her house out to break even at the very least. My thought is to hold onto it until the shopping center and stores get built then sell hopefully for a larger profit down the road. If we decide to keep both, the cash to close amount on the new house (approx. 40K) would take a large part of our savings. I feel our options are: sell one of our homes, cash out equity on one of our homes, or use our savings for cash to close to keep all homes. My perception is the Denver market is hot right now but worried about how long it will stay hot. And the current US economy situation worries me as well. Greater the risk greater reward but I want to make sure I'm making a smart move. I know this is some superficial information and I will try to provide more if asked. On the surface, how do you all feel? Thanks in advance!

Eric

What's up guys, newbie here to the real estate investing world. I wanted to get some opinions from the old and new investors out there about what are the first things they look at on a MLS report or any other real estate website (realtor.com, Zillow, etc). What makes up your "first impression". What are some of your hard stops when looking at the house details (price, square footage, price/sqft, neighborhood, etc.) What are your absolute H-to-the-no's and what are somethings you see that push you to explore more on that property. I know these are very general questions but for me I am in a very unique position where I can explore a lot of different types of houses and scenarios so I will take whatever feedback I can get. My exception would be, it would have to be my "primary residence" since I am a first time home buyer.

I am an emergency room nurse and one of the skills I have developed over time is to determine if a person is "sick or not sick" by being able to look at the patient from across the room and make a decision. I'ts call our "across the room assessment" and nurses have that skill dialed in. I want to utilize that skill when I look online and really dial it in. I want to be able to tell from across the room if a house is "sick or not sick" just by looking at the initial listing. 

I've been plowing through all these resources and find myself getting a little overwhelmed looking at house after house after house trying to find a good deal. I feel like at some point everything just looks the same.

Thanks in advance for any and all feedback...
https://www.youtube.com/watch?v=i3EOD6xbWHs

I live in the Denver area. From what I can tell the housing market is crazy out here. Looks like in the last 7 years the market has exploded. Is it too late start investing here or should I wait for the market to cool down, save cash and continue to learn in the mean time? Sorry in advance if this question has already been asked