All Forum Posts by: Erin Spradlin

Our guest speaker this month is Sarah Wells, an expert on communal living and co-buying.

This is an investing club with the mantra "get educated and educate others."

We have met monthly for the last 18 months and focus on real estate and investment topics. The meetings are approx 1-2 hours, and the format is: introductions, speaker presentation and questions, closing remarks. It is open to females only. All interest and experience levels welcome.

We'd love to see some new faces and are happy to answer any questions you have. Please email me directly or find more information at www.denverwomeninvest.com.

Hey Everyone! I'll be speaking for this event, and covering the following:

1. - How to house hack for mortgage reduction
2. - Different competitive rent models (long-term, short-term, medium-term "nursing" model.)
3. - Airbnb laws up and down the front range
4. - Airbnb tips/tricks and insurance

@James Carlson - adding James as he's currently helping someone with a triplex in Greeley. 

@Carl Mayer - can't believe I'm saying this, but Greeley is getting a lot of play for having excellent economics and being a solid place to invest. Here are a few articles discussing why this city is on everyone's radar: https://smartasset.com/mortgage/top-boomtowns-in-america-2019 and https://www.fool.com/millionacres/research/top-10-hottest-demand-markets-rental-investment-2020/.

@James Carlson 
@thadeous larkin (who I also cannot tag)- thank you for the shout out. I appreciate it(!)

@Dylan Eggers - Commerce City has had insane returns the past 5 years (the house values had doubled) but in 2019, it seemed like the Suncor facility was making people sick, so I agree with Craig about avoiding that area. https://www.thedenverchannel.com/news/local-news/regulators-hit-suncor-energy-oil-refinery-in-commerce-city-with-over-100-air-pollution-violations
That said, I love Thornton and Westminster. You see a lot of expensive businesses moving in there (Orange Theory, Whole Foods, etc.) which means the big companies think a certain demographic that can support those costs are coming in. 
I'd put 5% down for this, take on roommates, see how you like the experience and then re-evaluate in a year or two. 

@Lazlo Steele - I like this post. I think it's important to identify your goal, be realistic about what the issues are around it and also be proactive (jumping on here) to figure out what is feasible in Colorado Springs. If you have not talked to a lender yet, I would recommend starting there. They can tell you what you can qualify for/what issues may come up financially and your timeline to plan around. I'd also start thinking about where in Colorado Springs you'd like to look- geographically, it's a large city, so identifying what's most important (house size v. being downtown v. being on the westside v. a new house v. school district) are all considerations that will put you different places in the city. 

@Kevin Smith - Photos will be the biggest driver on this. Interest is a volume game, so they should be your top priority. At $100 for 10, it's not a very high investment either but will impact your results. Also, Facebook has a very strong Denver community for subletting that you might join. Even though you are outside of Denver, people on there might have some flexibility about where they live or be on other sites where they meet people looking in Longmont looking to do this. You might also try local Financial Independence (FIRE) sites as those people also will be more open to communal living. 

@Bradley Hollamby - you are in the right place for good investments. While Colo Spgs has gone up slightly in price, it is still far below Denver but continues to have many different demographics moving in or staying (ahem, millennials and boomers.) It was listed on Realtor.com as a top ten market that will outperform other markets in 2020 and has a strong amount of tech coming in as well. We have clients that have had a lot of success with short-term rentals and medium-term rentals down there. Both are still possible, but the legislation has recently changed so you just want to make sure to stay on top of it. 

@Jesse Choe - congrats on the house, and more importantly, on the discipline. Installing roommates to cut down your mortgage/cover your mortgage is smart and it's something I feel like more people should be encouraged to do/should do while they are young bc the pay off can be huge. As far as a next purchase or a savings, I personally prefer having a certain amount of liquid assets to feel comfortable, but also think that aggressive investing is what gets people ahead fast. It's just your ability to tolerate risk.