All Forum Posts by: Robert Herrera

@Chris H. Good job investing there.

I own 6 there now. 1 of which is a commercial property.

Cashflow is Through the ROOF. You can buy properties between 50-100K. 

Mortgage will be around $300-$500/Month PITI. You can rent these out from $850-$1,000/month. We're talking $13K down (including closing costs) on a $50K house. $600/month cashflow. That's $7,200/year in profit. 2 years to get all your money back, plus equity of $10K sitting in the house.

The rental market is going up like crazy with everyone not being able to afford Denver.

ALL of my RENTERS are from out of state and other parts of Colorado. 

Huge job push in Pueblo. go to PuebloRiverwalk.com 

Watch the VIDS on that site.

HERE is the KICKER: $15hr/minimum wage in COLORADO increasing about $1 a year until it hits. 

Now most of the people there are on the $8/hr minimum now. If everyone is making $15/hr, the rents are going to double, and the Home prices are going to SOAR!

Good luck and Happy investing!

@Kim Tucker As you can see from my post, you will not be doing ANY Maintenance. No one will be calling you in the middle of night! Lease Options are Awesome. Long TERM Tenants. No Phone Calls in the middle of the night. No need for Property Managers. 

Fix and Flip is OK investing. The problem is, every time you make a profit, you get hit with a large capital gains Tax.

Also, you now have to find another property to invest in, do the repairs/wholesale, and repeat. Over and Over again.

Rentals throw off money every month... basically forever. Especially into retirement.

Wholesaling is just a BIG CHECK. I hate Big Checks... I don't hate them, i Love them, i Just don't chase them.

Big checks can be spent FAST. Then you are looking for a new BIG CHECK

Rental Cashflow will come every month if you spend all your money or not.

@Steve S. You can't access the profit before 59.5 with a retirement account. If you buy a property with the money, all of the rent profits have to go back to retirement account. I don't really like retirement accounts. 

You could take your money out now, get taxed on it, then you can enjoy the profits. Also, stop putting money into that account. Open a business account and put it in there. Buy your properties with your business. Enjoy the profits. It's really up to you. If you hold on to the retirement funds, and start taking it out when it is built up, the tax's are going to be higher as you are pulling out more money.

Tim Exley I use lease options to rent my property. You can do them from out of state and requires less. Tenant hands you $2,000-$15,000 depending on the area. Tenant is responsible for all utilities, maintenance and repairs.

Kim Tucker you should do Lease Options. No need for a manager, tenants pay all repairs and maintenance. Tenants give you $2,000-$15,000 to move in depending on the property and location.

Steve S. do a self directed account, and you now have access to All of your money. We work with 401k people all the time.

Annie Li I would inform your PM that if they are not willing to work with you on this, or show proof of who's fault it is, you are going to be looking for a new PM. That should get them to do something, or fire them. If it Happened once, it will happen again

Yes, i have bought a few properties here in Pueblo. I have held on to 5 of them and want to buy more. Let's bring a group together. Who has the ability to run this kind of group? 

Greg H. Successful people are all over this post. Maybe if YOU took the time to read the post, you would see you're question has already been answered a few times. I said fallow the winners and stay away from the ones trying to slow you down. I never attacked anyone personally. I'm not going to get into an argument with you on everyone getting a trophy. I don't want to hurt anyone's feelings... I might have to pay for a safe space with cookies, pizza, and hired counselor to make it all better.

I hear there are some in Colorado Springs. I inset in Pueblo, so I would be very interested in one available in that area.