All Forum Posts by: Rick Munoz

Hi All!

I am looking at purchasing a new build condo that has not yet been built and there is not a model home that I can look at. All I have access to is the floor plan and I am also able to choose some of the finishes. What contingencies would I want to include in my offer to protect myself? I am worried it gets built and then I don't want to move forward with the offer after I am able to physically walk through the property. It's expected to be completed in October of this year.

The obvious contingencies are the inspection contingency and maybe also a financial contingency (already pre-approved). 

Also any other helpful tips about buying in this situation would be appreciated!

Cheers,

Rick

@Matt M. I will definitely start looking over there. Thanks for the tip! Do you know what the average rent is for a 2 or 3 bedroom house by chance?

@Dan Mackin thank you for your thoughts! I think the area needs a lot more time before I am ready to buy there.

@Steve K. Thank you for your response, that is probably the nicest place I can find for 350k in Denver or close to it... I don't know if I have the time (or skill) to manage a fixer-upper at this point. 

I would love to do house-hacking, having trouble finding a duplex in my price range that also fits my needs. Thank you for the link I am working with my agent to get set up with multi-family alerts on the MLS.

@Chris Lopez Thank you for your reply. This is towards the higher end of my budget, I don't plan to live there for more than 5 years most likely. It is the nicest house in the area by far. At this time I am not interested in fixing/flipping, but I may pick up some reading material on it just to see if it's a potential option for me based on my available time and skill.

Hi All,

I am considering buying a new build in the Westwood Neighborhood in Denver (West of I25, South of Alameda). The neighborhood does not appear to be up and coming yet, but the new build is priced reasonably (I think) at 350k (3 bed 3 bath). What are your thoughts about this area? Is it a bad investment? This will be my primary residence.

Thank you!

@Jared Bouzek and @Chris Mason,

Thank you both for your perspectives! Definitely something I hadn't yet considered.

@Dmitriy Fomichenko,

Thank you for the tips and thank you for welcoming me to the family!

Cheers,

Rick

Hi @Matt M. !

It depends on the purchase price of the property. If it were an investment property, I could put down 20% on a property ranging between 200-250k. I am working with a couple lenders to see what my best options are right now. Thank you for your reply!

Hi All!

I am a new investor and I am open to any and all advice that you all may have. I am looking to purchase my first property within the next 6 months. Currently debating between buying an investment property right off the bat and keep renting myself or if I should buy a primary residence first and look into buying a rental property down the road. 

I am looking forward to learning from everyone here. If you have any book/blogs/webinars/podcast recommendations (real estate or not) please contact me! I love to read and learn everything I can.

Currently I am reading The Book on Rental Property Investing by Brandon Turner and realizing how much I really did not know about investing! If you haven't picked up a copy I encourage you to read it.

Cheers,

Rick