All Forum Posts by: JD Gunter

As it sounds like you've learned, "free" seminars are typically just a sales pitch for more seminars. I've benefited far more from books than seminars. You can start with all of the Bigger Pockets books. Just click the "Bookstore" link at the top of the BP site. Get every book you can from Amazon or your local library on the topic of real estate investing. Podcasts and Youtube videos are also helpful and free. If you are just starting out, read and listen to everything you can get your hands on.

Perhaps most helpful, seek out experienced investors in your area and offer to buy them lunch or coffee. Offer to invest with them or help them find the next deal and learn from them. 

If you're just starting out, an experienced agent can be a great help. Most agents are used to writing multiple offers and can help you avoid many problems and help guide you through the process. As time goes on and you gain experience, familiarity with the process, and relationships with attorneys and title companies, there's nothing preventing you from writing offers yourself. 

Nice job, man. It's very rewarding to set someone up for success like that. There is a shortage of agents with investing experience. Here's to many more!

I don't have experience in your market, but Colorado Springs is a very hot market and I've done a number of house hack deals. We also have a shortage of 2-4 unit properties and if someone were to limit their search to properties like that, they would come up short. 

Instead, I would recommend looking at properties with a walkout basement, mother-in-law suite, split-level, or even just a separate entrance with street access. A home with a walkout basement and a wet bar can easily be house-hacked. 

You can probably search your local MLS for walkout basement, or have someone with a license help you, but some of the other items often don't have search categories. You'll just have to look closely at pictures and go walk through some that lend themselves to being subdivided.

I would look at comps online for your market to determine that. You may get opposite answers in different parts of the country, and even different towns in your state. 

In my market, I would say leave it as an office. Even though it's not big enough, people will use it for their children with some sleeping pads and/or a crib. Plus leaving it an office is cheaper and less likely to get water damage. 

Thanks @Bryan Cork! Yes, I would be happy to help. 

@Albert Hasson Congrats on your son getting accepted to the Academy! That's a big deal. He must be a sharp young man. 

What Bryan said is exactly right, anything north of Woodmen is pretty safe in terms of A/B. There are also some A/B neighborhoods on the northwest side in Rockrimmon. There are some spotted throughout the rest of Colorado Springs as well, but those two are the most consistent. 

Thankfully, we just described most of the area around the Air Force Academy. Your average price range in those areas is going to be about $350k. We have some good property managers in town and, as I'm sure you've read, Colorado Springs is a booming market. 

Let me know how else I can help!

Nice job! It sounds like your diligence and patience paid off. 

Also, Integrity Bank is the best! I have multiple commercial lines and one residential through them and they are definitely my go-to for real estate investing. Small, local banks are tough to beat.

@Ryan Riches - You're the man! Great investment with tons of upside. Well done

Zaid - The best decision I ever made was moving into commercial real estate investments. Good job getting started doing your research. 

The answer to your question is no, the seller is not necessarily obligated to fix anything. You can try to negotiate any repairs you want, but it will be on a case-by-case basis.

Even with residential, the seller is not necessarily responsible for fixing items found during the inspection. Every inspection finds something, and some inspections can be pretty nit-picky. If you ask the homeowner to fix a stain in the carpet that was found on the inspection, they can just say no and the buyer has the option of cancelling the contract under the inspection contingency, or waiving that item. 

Commercial works much the same way. Assuming the contract is written with an inspection contingency, you conduct your due diligence and present an inspection objection on the items you are requesting. The seller has the option to fix those items or reduce the price and responds to the buyer with an inspection resolution. You have the option to accept the resolution, reject the resolution and cancel the contract, or attempt to renegotiate the resolution. 

My recommendation would be to find a good commercial real estate broker in Tampa. Commercial real estate is a very different animal than residential and an experienced broker can really help, especially on your first commercial deal. 

Mikhail - Welcome to BP! Those are great goals. I think focusing hard on that first milestone is the most important, and will be the most challenging. 

Do you own your current residence?