All Forum Posts by: Ryan Thomson

@Charles T Grimes House hacking has been great for me. I would definitely recommend it. Screen your tenants well and I would be honest and set boundaries. If you can do that well, I see the money you will make and save well worth it. 

For resources I really like the following House Hacking episodes on Bigger Pockets Podcast: #352, #252, #350, and #249. Also, Craig Curelop's book on House Hacking is a great resource.

@CJ Mahan House hacking is awesome man! Let me know if I can help answer any questions you have. Finding a realtor that will think through the numbers with you and optimize your house hack for your goals is very important. 

@George Vigil Solid Rock Realty and Colin Smith are some of the best in town for Multi-Family Units. If you are looking for bedroom rentals for student housing I would look into Lion Realty in COS. 

Bummed I missed this! I had COVID.... 

@Bradley Abramson I like to at least live for free with my house hacks. And have an exit plan that will at least break even when you leave (if you want to scale to the next one in a year). 

It sounds like you have thought through the numbers and did your research. I don't know the Denver market as well, but I would definitely make sure you are working with a house hacking realtor that can help you get the best return and optimize your cashflow. 

@Christopher Ferrari House Hacking is an awesome place to start. Allows you to get in for 5% down. Find a good SFH that you can split into two units, convert a garage, or has lots of bedrooms to rent to people you'd want to live with.

For resources I really like the following House Hacking episodes on Bigger Pockets Podcast: #352, #252, #350, and #249. Also, Craig Curelop's book on House Hacking is a great resource.

@Andrew Delgado I've done three house hacks in the Springs in the last 2.5 years. They all cashflow well. The great thing about the Springs is that it does well on STR on Airbnb. If you live in one unit you can airbnb all the others. This would do really well in a multifamily situation OR even one where you convert a walkout basement or a garage.

Even if you wanted to long-term rent the other unit, I find it hard to imagine you won't be covering a significant amount of your mortgage and growing your wealth with loan paydown and appreciation. 

Another thought- you could pull out the cash with a cash out refinance, turn the current home into an investment property and buy a house hack with 5% down.

@Shai Flax good advice from @Bruce Lynn. That is definitely why its helpful to get some local advice. Thanks Bruce!

@James Honeycutt nice work man! That's exciting stuff. You are aware of 1031 Exchanges for that second property you are going to sell right??

@Chris Lopez I'm interested. I'm down here hustling in COS. :)