All Forum Posts by: Kayla Givens

Hey @Julie Berks! Yes, there are additional licensing/insurance requirements - basically we just had to get a business license through the city and business insurance - that was it! 

@Jaron Walling what makes this concept unique is we are able to charge by the bed vs. by the room :)

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $462,500
Cash invested: $26,000

Unique house hack in Englewood, CO. 4 beds, 2 baths, and a big backyard with chickens. My business partner and I saw an opportunity to combine two things we are passionate about - building wealth and helping people. This home is a recovery residence, and each bed will serve as a "unit" at $900/mo.

What made you interested in investing in this type of deal?

Investing in this home is a perfect marriage of two things my partner and I are passionate about - helping people and building wealth!

How did you find this deal and how did you negotiate it?

My partner and I found this home on MLS. We got our offer in at the last minute and won!

How did you finance this deal?

Conventional loan with 4% down

How did you add value to the deal?

We plan to have all of the windows replaced, have made upgrades throughout the home, and eventually add 1-2 more rooms in the partially finished basement.

What was the outcome?

We plan to live in the home for 6-12 months before moving on to our next home. When we move out, our gross monthly cash flow will be $8300/mo.

Lessons learned? Challenges?

This is the first of many recovery homes we will be investing in Colorado. Next time, I plan to have a "playbook" or checklist to make sure we have everything we need and are good to open our doors within a week of closing.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Mike Stone with Megastar Financial made it happen for us!! Highly recommend seeking him out if you need an investor-friendly lender.

Hello BP World! 

Putting the feelers out there for any real estate lawyers that could give me some advice in regards to requesting a reasonable accommodation for a property I have in Englewood, CO. 

I can explain in more detail what we’re doing and why we need support - it is just too complex to explain in a forum post. 

Keeping my fingers crossed!! Thanks in advance 😊

Quick update - I didn't give up and move to Austin! Lol. Finally under contract and closing on a home in Englewood, CO on Thursday. Yahoo!! 

Still planning on getting a property in Austin at some point but for now we're hitting pause and focusing on this first investment. 

Great article. Where can investors do well in the other cities you've mentioned? North Atlanta? North Austin? South Phoenix? I know you mentioned the Tech Center and Interlocken for suburban submarkets, what would be the comps in these other markets? Thanks 

When will you be doing another coffee meetup?

Hey, Everyone!

For our next meet-up, we're looking for someone with expertise in out-of-state investing that is based in Denver. If you have someone in mind, sent them my way!@Mark Cermak

@Mark Cermak

Hey, BP! Brandon Turner has been posting a lot about mastermind groups lately and I would love to know if anyone is a part of one in the Denver area or if you have any recommendations! Thanks in advance for any insight :) 

@Kiley Marvin wow!!! That’s amazing!! Great work!