All Forum Posts by: Jordan Coughenour

I have a SFR property in Denver that I have rehabed and has been a great rental for the past few years. At the end of the month, I am netting $700 in cash flow. I also have an SFR property in Kansas City that is netting me $500 cashflow at the end of the month. Ideally, I would like to sell my Denver residence and use my equity ($180k about) to purchase multiple KC homes. However, my hesitation is being able to identify and purchase several more SFRs in KC within the 180 day time window to take advantage of the 1031 exchange, and avoid paying a capital gains tax.

Is there something I can do here that I may have not thought of? Thanks.

Thanks!

I am about a year out from purchasing a property. As I am going through theoretical budgeting for what I could rent my house for, what is a good resource to see other comparable rents in the area?

Thanks!

@Thomas S. I do want to make a sound decision. I have considered downsizing to a cheaper car for sure. I suppose my thinking is that I don't want to miss out on the time value of my money if it is just parked in cash and not an investment.

@Bill S. I am ordering that book here shortly! Thanks for your input.

You make it look easy! Congrats! Was this is Coppell.

How did you figure that the walls were non load bearing? Did you hire out an engineer?

27% on the credit card... I know.

5.5% on Student 

What would be wrong with the 1% or 0%. I could just as easily lose my job on a 3.5% loan too? I suppose I don't understand.

Hello,

As per Josh and Brandon's encouragement on a podcast, I am making a post to get more involvement on the BP community!

A little about me:

I just received a degree in Construction Management from Colorado State University, and I am moving down to Denver this Fall to work for a consulting company doing construction consulting for large commercial and industrial construction projects. I have never owned any property before. I am a newbie.

I want to get going with my own real estate side endeavors that would ideally become my long term passive income.

Here's my finance snapshot:

-single

-$60k/year salary

-$25k student debt

-$16k car loan

-$3k in savings

-$2k credit debt (argh spring break 2016! - paying that off with my $5k signing bonus immediately)

-credit about 680

I met with a real estate agent yesterday and while I was planning on renting for a year, she was making it seem that there are a lot of options for me to get into a house by the end of this year. I also don't want to throw away $900/mo at rent for a year while I could own.

-FHA @ 3.5% down

-A new type of 1% down conventional loan she told me about on single family only

-FHA on single family up to a 4-plex so that I may rent out the other units.

-USDA loan at 0% down on single family home only

What sounds most attractive to me is getting an FHA loan for a du/tri/quadplex in order to create that passive income. However, I don't want to be overleveraged my first year.

The market in Denver and Colorado in general seems to be at a crest, and I don't want to necessarily buy at the top of the market. On the other hand I don't want to pay rent.

If anyone could shed some wisdom on my situation I would love to hear it! I am a sponge and want learn as much as I can to make the best choice. Is it best to just get grounded for a year and save while paying rent? Should I make the leap for a multifamily unit on an FHA loan?

Thanks so much!

Jordan Coughenour