All Forum Posts by: Kevin Grinstead

Hi Jon, welcome to BP. It is all about the numbers. If you can get into a duplex or larger multi-family it is  better for rents and margins. 

The approcach of renting rooms works for a lot of people. You wouls want to see what you would need to claim the rent on a mortgage or as future income. 

Duplexes make it easier for lenders to see the rent as income and you are protected by the zoning to have multiple families living in your home.  Renting out 1 or more rooms can be a zoning violation. 

Hi Christy, welcome to BP. And thank you for serving our community as a nurse.  Congrats on your first property and good luck to tou for finsing the right duplex or triplex. 

Hi Luke, welcome to BP.  What kind of commercial multifamily are you looking to invest into? Are you looking for an apartment building or an office building or just a triplex or quadplex?  Alot of that would determine which meet up to check out. I think there is one for multifamily and one for apartment building investing. 

Hi Michael, a lot would depend on what you can live with as space and quality as well as how the lender can structure your next deal. I think renting your home in Colorado springs would be a great idea. See if your lender can include a portion of what you are going to get for rent in the current home.  

Also see if the lender will accept the new home up north as a second home so that you can  have a lower down payment and interest rate. 

The specific situation i am in would make the difference for me.  If I can get the right loan done I would do whatever I can to start another income stream.  

Also depending on where you want to live down here there are still some affordable housing options. 

Good Luck and happy investing. 

Hi Eric, welcome to BP. There are some nice areas up north that could show some profits. Also depending on the right funding you can put less down and usually qualify for more using some of the rent as your calculation of income to increase tour qualification.  

In general, there are less multifamily out here than in other cities. Most of the duplexes or better are listed differently in MLS so don't always show up in Realtor.com and they are quick movers in most cases.

I would try to set up a meeting with a mortgage broker that is great with investors to help you structure the first play and plan for a long term goal. 

Hi Brandon, welcome to BP. There are a great many videos and other articles here that can help you get started.  If your looking for general advice, there are many different ways that people run their investing.  Investors find a niche and stick to it. 

What type of investing are you interested in?  

Hi Mart, welcome to BP. There are lots of houses in Denver with tvmhe right zoning for ADU's. From what I have seen, they should make you between 900 and 1000 dolloars monthly incom3 in addition to what you currently have.

Hi Justin, there are still some great areas up north that have good opportunity. There are high rents and lots of renters. There are also areas like Dacono, Frderick and Firestone that could be advantageous for rentals with all the growth here. 

Hi Hai, welcome to BP. There was an article by Craig Curelop on rentals and they have created some great lease documents for Colorado specifically and for their charge of $99 theynwould be well worth it.  

Part of renting out your townhome would be do you eant to take on the responsibility to manage it or are you willing to pay a Property Management company. 

Good luck in your endeavor

Hi Connor, welcome to BP. This is a great place to learn. I would connect with a great lender and tell them your plans and also the estimated amount of the duplex. They can look at your individual situation and help determine what debt is best to pay off first and how to set yourself up to be qualified for the duplex in the enxt year.