All Forum Posts by: Jean Bolger

Disclaimer: I'm in a less than great mood today. But, Grant Cardone is just annoying. and often wrong. 
This advice, for example. How many successful investors do I know who waited until they had 100k to invest? Zero.

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How long have you been in your current place? I now a few people who have done quite well with "serial house hacking" , i.e. living in a place for a year or to to satisfy the owner occ loan requirements and then converting to a full rental and moving on to the next house and doing the same.
Takes a bit of a strong constitution - dealing with moving every few years would get really tiresome - but you can definitely build a portfolio on a budget that way

Ditto the above. 1% is good in Denver right now. But don't despair. A lot of the areas where you can (or could) get 2% are much lower priced markets, meaning that the rents are much lower too.  Look at it this way: say you had two identical properties, one in Cheapville and one in Denver. Cheapville rents for $1000, Denver rents for $2000. Your operating expenses (other than debt service) on the two properties is not going to be that different. Perhaps not exactly the same in real life since labor and material costs differ, but a furnace in Denver is not going to cost twice as much as a furnace in Cheapville. And Colorado has mercifully low property tax rates compared to many of the areas where you could find a property to meet the 2% rule. 

Hi @Account Closed! that sounds awesome.

I'm in awe of people with those analytic geek skills. but the word geek in me can't help but point out that in Latin (-us) is the suffix for a male name. A female form would probably be Maximis or maybe Maximea. (Now there's some info I never imagined I'd be sharing on BP, lol)

Of course, in real life I know a woman named Sam ad another named Michael. Besides, in the cyber world having a male name may protect her from being trolled by the other databases ;)

@Sebastian I.  it's hard to offer much advice without knowing more about your situation. Such as, what type of property do you have in NJ? Is it income producing now? If so, do you have to sell, or would it make sense to hold on to it?
Also, what are you goals with that 200k? Do you want to invest actively or passively?  etc...

All that's been said about the CO market here is true. There are good properties to be had, but I think approaching the market with a flexible mindset and investigating a lot of options is helpful.

@Account Closed 's post is good cautionary tale for young people putting off getting started in RE. Most younger people I know say they want to invest but will wait til they are older and "making more money".... might not happen :(

Put your alarm clock on the other side of the room (and don't go back to bed after you turn it off,lol). But your success will really have a lot more to do with how well you use your time than with how much time you have. I certainly wouldn't want to make a goal of just working longer hours

In some states holding a license can have legal conflicts with wholesaling, so be sure to research that thoroughly before you take the jump. It may be an either/or choice.

It's actually spelled Barnum, after PT Barnum of circus and "sucker born every minute" quote fame. He bought the land in the late 1800's but never lived there. Really! Just adding that for local interest, and because it will make it easier for you to research if you use the right spelling.

It's been extremely popular with speculative investors this year, I wouldn't be too optimistic about finding something to meet all their criteria. Be interested to hear about it if you do, though

I know that complex and that unit is overpriced, at least for investment purposes. It is a good lower-end complex for rentals though so it's worth keeping an eye on. For reference, I had a client (owner-occ) under contract for a  really nicely rehabbed 1 bdrm at about 80k a few months ago. you can sometimes get 2 bds around 100-110k.