All Forum Posts by: Jason M.

@Chris Lopez I'm probably 5 years out before househacking will be a good strategy; But once my kids are gone, definitely. (Do you see any downsides to using VA loans for HH? Or would that be a benefit?)

@Chris Lopez it's not the analysis, it's the buy-in I'm struggling with. I rarely come across a property less than 225K putting me in the 50K range to get started. It will be at least next summer before I'm in a good position to drop that kind of cash.

Love your podcast by the way. I listened to a whole string on them on my drive down to Texas and back last weekend. Good stuff!

I am really struggling to get off the ground in the Denver metro area; And I've read mixed reviews about going out of state for rental properties. (I read "Long Distance Real Estate Investing") Thoughts? Is it better to wait and save the ~$60K for down payment here? Is it even worth it with all of the unknowns around COVID and renters?

Aside from lacking the large down payment, I'm in pretty good shape. (No debt except my primary residence, 800+ credit score, 15K in emergency savings, maxing out tax deferred accounts every month, and saving $3K/month for investing.)

I have a realtor, and we have setup a search based on my goals; I probably analyze 5 or 6 properties every morning. I've found a couple that work, but I just can't get past the initial investment in this market. 

I have read all of the BP real estate investing books (Including "The Book on Investing In Real Estate with No (and Low) Money Down" ) and I'm looking forward to next weeks podcast. "Live in an Expensive Market? You CAN Invest in Real Estate! Here's How!"

Can anyone give me some advise to get over this hump?

Piggybacking off of this thread!

I would like the assistance of a certified financial planner to help me go over my budget and investment strategy via WebEx and make sure that my plan is sound. 

I'm curious if most of you have separate checking and savings accounts for each property or just a separate account for your personal finances and one for all of your real estate? Do you use CDs for your security deposits and emergency reserves? Are their any banks that are better than others for business accounts? (I currently have access to USAA, Navy FCU, and several local Colorado Credit Unions.) 

I was also curious if anyone is using dedicated real estate credit cards and how?

I'm curious what the general feeling about real estate investing, specifically buy and hold, is in the area. I live in Denver, but I grew up in Arlington and spent 20 years in the DFW area. I have a lot of friends and family there, I have a realtor I trust, and I have several contractors I have worked with in the past. In addition, I just sold my dads old in the 76010 zip code and felt like I got a great deal. (Had it not been for the pandemic I would have kept it and rented it, but I feel like waiting for at least another six months is wise right now.)

To the investors, do you good cash flow and appreciation? The buy-in there is more reasonable than here. (Average SFH in Denver is around $450K.)

For my first remote property I would feel better investing somewhere that I have hooks.

Jason

@Jonathan Harms, thank you! I will keep that in mind. I am in no rush right now myself.

Good morning!

I have been looking in to the possibility of doing some out of state investing in the Rapid City area. I have some family and friends in the area and it seems like a good way to break in to remote real estate investing.

I'm looking to start buying properties late Q1 to early Q2 of 2021. (Once we know what COVID is doing and how laws affecting rent and evictions shake out.)

In the mean time I would like to find a good realtor, used to working with investors or at least interested in it, to help me setup some searches and start building a team to inspect, fix, and manage properties. 

Thanks!

@James Carlson, thanks for the note!

That was originally my plan, but with such a steep buy-in I think I am going to look in other markets first and come back to Denver. I'm currently reading the book Long Distance Real Estate Investing to try and figure out if that plan is going to work for me.

It would be pure investment; I have a primary residence already and I'm not looking to move or take on roommates. 

What makes a property eligible for house hacking? Does it have to have the same physical address with unit numbers or letters?  I ask because the home I currently lived is a townhouse referred to as a "paired" home. Technically it is one building, but each house has a separate address, lot #, etc.