All Forum Posts by: Keith McDougal

Thanks Greg.  I definitely need to brush up on how hard the Colorado State legislature has made it on Landlords.

To get started I'm going to focus on the Roaring Fork Valley, where I know the market and can make more informed decisions.

Thanks Drago!  I've run some number on Spec homes that clients built.  It seems to be quick (1-2 years) profit but it's also a big initial investment.  Being more conservative for a first deal is probably the best option for me.

I just finished Brandon & Joshua's book, How to Invest in Real Estate, so thought I'd get active on their BP site.  I'm located near Aspen Colorado in a small Mountain town.  Real Estate is very expensive here, but also a very secure investment.  

I've been a commercial construction manager for 20 years and a Realtor for 5 years, so I believe that I have the skills set and knowledge to be successful in REI.

Thinking a spec home or fix & flip for my first attempt at it... or maybe a townhome fixer-upper that I can hold and rent.   Any recommendations to get started in an expensive market?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $590,000
Cash invested: $118,000

Primary residence purchased in 2015. Was a fixer-upper that my wife and I renovated ourselves over a two year period. Real Estate appreciated a lot during Covid, so our home has been a great investment.

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

Primary Residence

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

Realtor

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Renovated the entire home.

What was the outcome?

Have a lot of equity in the property

Lessons learned? Challenges?

Renovation took twice as long as I think it should have because I did much of the work myself.