All Forum Posts by: Kayla Givens

 Hey, Peter! My fiance and I do something similar with our real estate investments but instead of elderly assisted living, we focus on sober living. My fiance has created a whole program and business that goes along with it but it was a perfect marriage of two things we're very passionate about - helping others and investing in real estate. I can't speak to the 24-hour live in care as sober living has more of a peer support model but I know these models can be extremely lucrative. You will just want to make sure that the business you are buying has a good reputation and all of the proper credentials.

Best of luck to you!! Group living is a great real estate investment strategy!

Hey, @Eric Michiels! You are definitely in the right place to find a mentor to help you - I'd search through the forums and even try a member search to see if you can find someone to reach out to directly. Meet-ups are a great space as well - I believe @Ryan Thomson hosts some every now and then down in Colorado Springs!

Hey, @Stuart Crowell! For short-term rentals, I always recommend TJ & Drew Sandoval of The Sandovals Bnb - they're local here in Denver and do a wonderful job of getting systems in place, offer furnishing packages, and in general are just good people. Here is a link to their website if you want to learn more! Also, would be happy to do a warm intro :)

Hey, @Steven Pesavento! Woud love to hear more about this deal!

Hey @Martene Clarke! Denver is a great market but it's also pretty expensive vs. Indianapolis and Orlando. What strategy are you planning to implement? With rates and property prices so high, it's pretty uncommon to find a cash flowing property with a long-term strategy. If you haven't already, I'd recommend looking into a medium or short-term rental strategy to maximize cash flow. That said, the equity and appreciation in Denver is great - you will continue to see it grow year over year and at an impressive rate!

Would love to chat more with you about the Denver market!

Hey @David Lemont! Similar to Ryan's question - is the $1858/mo cashflow after all expenses/PITI? If so, I say GO FOR IT! You don't see cash flow like that in Denver on long term rentals anymore and if you can safely build up your reserves in case you have cap ex or a tenant that misses a month, you're going to be in a really great place. My advice would be to get a good tenant screening process in place so you can do your best to avoid sticky situations like that. Your equity and appreciation will only continue to rise in this market so I'd hold on to that property if you can.

Have you thought about house hacking to offset the $1500 difference for your next primary? You may not want to share a living space with someone but it's possible to find a property that can be split into two living spaces and reap the benefits of having a lower monthly payment :) Just my two cents!

Hey, @Benjamin Papet! Congrats on getting your fourth property under your belt and in such a short time! It sounds like you and your agent have a great partnership and she knows how to get the deal done :) 

If I were you, I would recommend saying something like, "Hey - I know you typically gift us with XYZ, and we truly love/appreciate the thought!! This time around, if you're planning to gift us with something, we'd truly love a gift card to Home Depot/wherever." That way, you're acknowledging and thanking her for the gifts she's already given you and giving her a good tip/insight for what you might actually WANT this time. 

By now I'm sure you've built a great relationship with her and she won't be offended by your insight - I know I appreciate it when my clients are more direct and tell me what they want vs. me taking a guess. 

Best of luck and congrats again!!

 Hey, Isabel!! I just sent you a DM - would love to chat with you!

Hey @Clayton Hepler! Congrats on choosing Denver - it's an absolutely amazing city and the growth year over year continues to amaze me!! 

Echoing what everyone else has shared - I would definitely see what you could do with just your wife's income as well. Depending on your debt-to-income ratios, you could probably afford a nicer home in the Denver area - it really just depends on your preferred location, criteria, rental strategy, etc. I'd definitely chat with an investor-friendly lender - @David Mackin is a great resource in the Denver area, and I have a few other lenders I work closely with that might be able to help as well. I'll shoot ya a DM!

Hey, @Clinton J. Andersen! Welcome to the BP Forums - lots of knowledge and expertise at your fingertips here! Congrats on the place in Denver - I can only imagine what a pain it's been waiting for the property to be built but I'm sure it will pay off (literally) once it's up and running as an STR!

My fiancè and I got started with a house hack in Englewood. Our approach was a bit unique as we purchased the property to turn it into a group living home, which we did shortly after moving into the property! The cool thing about our model is that we charge a typical rental rate per bed instead of per room - it is common for group living situations to have at least one roommate per room. PLUS, we were able to marry two things we're very passionate about - real estate investing and helping people :) We've rinsed and repeated this model and now have three properties under our belt and are circling in on a quadplex that we will use to do the same. 

Very cool about your wedding business! Is that something you could incorporate into your real estate goals? I have a contact out in Vermont that owns a bit of land and they absolutely crush it hosting weddings!