All Forum Posts by: Richard Mann

@Chris Masons - While I am very interested in investing in real estate and plan on doing just that, I plan on leveraging those profits at some point into a restaurant idea I have that will use a Chipotole type business model.

@Joe - Welcome, I am pretty new also and located down in the Springs.

@Brandon Turner - I figured it out and works perfectly on my laptop or desktop but not my phone or tablet (as you can see by this post)

I am new at this but logically it would seem you simply need to arrange your financing and have the property appraised once the rehab is done, then collect the money from your long term lender and pay your hard money lender.

@Stephanie Dupuis - Thanks for the reply. I didn't put any property management in because it would have been my first "investment" property and I would have done it myself but I hadn't thought about paying myself to do it. Good suggestion. I think you are right about the legal and maintenance.

@Matt Morgan - You are ultimately correct the margins are too thin. Thanks for chiming in and taking a look.

@Ellis San Jose - Thank you for breaking it down on "paper." That was very helpful.

This home is right down the street from where I live and I was hoping that the numbers would be good because it would be easy to watch my first investment.

I will continue looking for investment properties but this exercise has definitely helped and hopefully the next one I bring will be better.

Thanks ALL

Sorry, I see where the confusion was. The home information was the default listed when I downloaded the template

@Joel Owens - This is not a duplex or a triplex. It is a single family home and tenant would pay water.

Hi,

I came across this home and ran some preliminary numbers using the spreadsheet that @Joshua Dorkin so graciously provided. I have attached a screenshot of the sheet and would appreciate your input. Thanks!

@Mark Ferguson - I live down in the Springs and we were hammered pretty hard as far as rainfall total too. I live pretty near Ft. Carson and there was about 13" in 8 hours that fell. It was pretty crazy. Not near as much flooding as northern CO though. I hope you fair well with your homes.

Why don't you buy a duplex, triplex, or quad and live in one unit while renting out the others. You may be able to create some cash flow, or at the very least allow someone else to pay down your mortgage.

You could still become an agent if you want but might as well get into the business while mortgage money is still cheap. I would also try to purchase before getting out since you can prove you have a job and can get financing easier.

I am new at this whole real estate thing but seems pretty logical and an easy way to get started.