All Forum Posts by: Grace Wang

@Vinh Nguyen

In a hot and VERY competitive market like Denver, low-balling will typically be a waste of time.

Over the weekend I received 60+ offers on my listing, and had investors low-balling as much as $55K under list-price, when the listing was already priced below-market. We received plenty of lowballs, and also highballs at >$100k over-asking. When you compare the offers side-by-side the natural reaction goes something like "you've got to be kidding me".

I understand the reasoning behind low-balling from an investor-standpoint, but in a market like this I do get secondhand embarrassment from seeing those extremely low offers. Just because you have a cash offer does not mean you'll get it for the price you offer at. 

At the end of the day, i do view it as disrespectful and I scoff at every low-ball offer. If you're in real estate for the long haul, I would try to uphold your name and brand...try not to get earn yourself the reputation of the "sleazy investor".  

Hpe that helps!
 

@Adam Knickelbein Hey Adam, in addition to what the others said above, I would recommend listing on various facebook groups (there are many groups specific to moving to Denver, Boulder, etc) and posting on your own facebook page. 

Scroll through the facebook groups daily, and comment on people's posts offering up your place. The more exposure, the better.

@Quentin Inniss Hey there! I have a few pieces of advice for you.

• - Get a job and start saving for a down payment for your first house hack. That is the strategy i'd recommend a newbie investor. 
• - Educate and never stop learning. Start by reading "rich dad, poor dad", "set for life", and "the house hacking strategy". These will give you a good sense of money management and how to get into real estate investing. 
• - Ignore distractions. College will have a TON of distractions, but if getting into real estate investing is important to you and your financial success, block out the naysayers and stay in your lane. Starting young in real estate is a huge advantage you'll have over many people
• - get a starter credit card and start building that credit. Pay off statement balances in FULL each month, and put those payments on autopay.
• - Don't buy material items you don't need. Waste of time, effort, and $$$

These tips may be a good starting point for you. Hope this helps!

Arvada allows for STR if the property is not your primary residence. That may be worth looking into!@Alexander Ignatenko

@Dajuan Wortham Here are a few things to start taking note of:

• - Start building your credit. Open a credit card as soon as you turn 18 and make sure to pay everything off in FULL each month
• - Start saving for a downpayment for your first house hack (the best type of investment to get into real estate investing)
• - Listen to the BP podcasts and educate yourself. Some books I'd recommend: Rich Dad, Poor Dad (Robert Kiyosaki); Set for Life (Scott Trench); The House Hacking Strategy (Craig Curelop); The Millionaire Nextdoor (Thomas Stanley)

hey @Neal Ichinohe have you guys talked to multiple lenders? Some lenders may have more programs that fit your situation

@Alex Coke In Denver it's common for house hackers to rent out bedrooms individually, or to block off a section of the house to rent long or short term. As you can see from the previous comments, too, there are many ways you can house hack. You may want to chat with a local investor-friendly agent to see which best fits for your situation and/or market. 

@Mora Clark Hey Mora! House hacking in Denver is going strong. Although there's an inventory shortage, investors are still able to find something house-hackable; a little creativity in the rental strategy is all you need. What kind of properties are you looking for, SFR or 2-4plexes? What kind of cashflow are you looking for? Which areas? And how are you analyzing deals? Are you can share a little bit more about your criteria?

I'd be happy to chat if you have any questions!

@Spencer Nelson, As a millennial, of course i would say this: learn the ins & outs of social media marketing strategies (tik-tok, instagram, youtube) and get REALLY good at it. That's your value proposition. Bring that to a seasoned investor that has little-to-none social media experience; then... grow their following. 

You would want to do this because it brings value, exposure, relationships, and more deals to that investor. Whatever you do, don't ask to "pick your brain" because many investors are busy! 

As you provide value to an experienced investor, you'll have organic conversations that turn into mentorship. Hope this helps

@Yenika M. Hi! 

Are you willing to house hack? This is the easiest way to get started with real estate investing. Not only are you saving cash on living expenses, but your tenants will be paying down the loan for you AND you'll be saving for your second investment. 

Banks love W-2's, so you would likely be in a great position to do this. 

What are they different strategies you've been considering?!