All Forum Posts by: Kayla Givens

Got it - just passing along what they're looking for. If you have something that's close or know where I can find something that would be helpful!

Hello! I have a friend who is looking for a commercial property to lease or buy in the next 60 days or so. I don’t have a ton of info but here are the basic requirements:

• 10k square feet
• $1.5mil or less
• Zoned for Health and wellness/assembly zoning with at least 50 assigned parking spots
• If building needs to be brought up to code their budget is maxed at 100 K

They are looking to stay within a 3 to 5 mile radius of I-25 and Arapahoe if possible. If anybody has a lead or can point me in the right direction it would be greatly appreciate it!

@Benjamin I Singer I would start looking for an investor friendly agent in your area and get a few recommendations from them. I found my lender through BiggerPockets connections so you’re already on the right track! Look though the network and find a couple people and start reaching out! 😊

Hey, Ronell!

How cool that your parents want to give you their house! It sounds like you are on the right track with getting everything fixed and upgraded, especially knowing there is no mortgage on the house. @Arlan Potter mentioned house hacking which could be a great idea if you are currently renting or have high housing expenses - if that's the case I would crunch the numbers and see what makes the most sense for you.

Congrats again and best of luck to you!

Hey, @Kirsy Martinez!

Welcome to BiggerPockets! When I found this community it lit a fire under me to learn anything and everything I could about real estate investing. @Cody Neumann has a great suggestion - house hacking is a great way to get your foot in the door. If you're not familiar, you buy a single-family or multi-family unit, live in one room, rent out the others (long-term or short-term) and live for free or have the majority of your housing expenses paid for. After one year, you can move into another property and continue building your portfolio!

One thing I live by is "always be learning." Take that on and learn as much as you can but also, take action!

Best of luck!

Hey, @Jamel Brown!

Congrats on getting into your next property! Are you going to house hack this one too?

Best of luck!

Hey, @Tim Clark! Congrats on your decision to experiment with house hacking - I am doing it right now and while it is not ideal to have roommates, it is a small sacrifice to make while we start building our portfolio and buying more properties. That said, we do not have any children so it is easy for us to be uncomfortable. 

Have you thought about looking at Single Family Homes with an ADU? Or something you could convert into an ADU? That could minimize the interaction you have with your tenants/Airbnb guests and increase comfortability for you and your family!

Best of luck to you and your family!

Congrats on your first house hack, @Raven Reinmuth!! It sounds like you've got a great strategy in place and the hardest part is over - getting started! Best of luck with your first place! 

Hey, Natasha!

As @Jonathan Schweinefuss mentioned, House Hacking is a great way to go. You don't need a ton of capital upfront (3-5% down), can live in the property for 1-2 years, then repeat the process when you move on to your next property. You're definitely on the right track!

Hey, Andrew!

Congrats on getting into your first house hack! In order to refinance from an FHA to a conventional loan, you'll need at least 20% equity and sufficient debt-to-income ratios. I'd start by reaching out to a lender that works with investors to get a strategy in place if you're planning to repeat the process each year.

You could also do a conventional loan with 3-5% down if you qualify - doesn't always have to be an FHA!

Best of luck!