All Forum Posts by: Ryan Thomson

@Preeti Sampath the other thing to consider is most people buying a home for themselves are using loans. Part of those loan agreements is that they occupy the home within 60 days of closing. If you a lease longer than that, the lender may not let them close. Having tenants definitely lowers the amount of potential buyers who can buy your house. However, if you are getting a lot of rent than an investor may be interested. 

Hey @Austin B. Vacasa just named Fariplay one of the best bangs for your buck for STRs. I bet it would do well there. 

@Joshua Doan my understanding is that you have to intend to live in the property for a year before you can refinance out of a VA loan.

I want to talk about my 4 properties (3 house hacks) and see what you guys think. How do I sign up to be on the show?

Nice @Stephen Karagosian!  Any interest in partnering on a deal? I'm in Colorado Springs as well. 

@Jerah Yassine that sucks! This is a great place for answers. I'm an investor and realtor in COS. Happy to help however I can.

Nice! Love a good house hack.

@Adam Lowe I agree with @Joshua Janus. House hacking is an awesome way to get into a multifamily for 5% down with FHA loans.

Also don't limit yourself to multifamily. SFH can work great.

For house hacking my criteria consists of a couple things. First, it must allow you to cash flow or live for free while you live there. Second, It must have a good exit plan to cover your mortgage and make $200+ a month after you move out (often times much more) and do your next house hack (if your goals are to scale).

Here is what I look for to make that happen:

1. An easy way to split into multiple units: a walk out basement, an ADU, or a garage that could be converted to an apartment, multifamily - this allows for airbnb or more rental income to a long term tenant

2. 4 or more bedrooms (or 3 bedrooms with the potential to easily add more) - you could get about $650-800 a bedroom in Colorado Springs

Hey @Dalton N Green! I actually grew up in Houston. I have house hacked in Colorado Springs and scaled to three in 2.5 years. I declare all of my rental income on my taxes and this allows me to essentially zero out my mortgage debt on my Debt to Income calculation. Then I use that rental income and my income from my job to qualify for the next house. Rinse and Repeat. 

I want an STR in Woodland Park @James Heller!