All Forum Posts by: Toby Khan

Guys Let me know if I can help in any way and I will jump in. I have been LP (Limited Partner) since 2013-2015. But actively involved in from 2016-Present. 

@Mark Stark these would be buy and hold. I’ll shoot you dm.

@Mark Stark please let me know if your bank can loan outside Colorado and to an investor who doesn’t live in Colorado. So far I haven’t found a bank that’ll take that route. It led me to call local banks in the area where the property is to attain the loan as out of state investor. Thanks in advance. I’m a bit curious to see your response.

@Joe Gallo-I believe David Green's book "Long Distance Real Estate Investing" would help you tremendously. Even though when I started investing in long distance properties that book didn't exist but I have read it this year-it is good for folks who are looking for out of state investment. My assumption is that most of the time investors go out of state to buy rentals is for better cash flow. At least that was the main reason for me. Some cities provide much better than others with cash flow & cash on cash return. If you are looking to invest out of state-it is best you connect with a local real estate agent who happens to be investor friendly, through him/her you will be able to get a list of banks (call around as well to find out banks that are willing to work with you), contractors, property management & inspection companies etc. info. 

@Arion Trammell-I agree with everything fellow investors have said & you definitely have the right mindset  going on about house hacking. Few things that comes to my mind-

-In the cities at current market cycle it will be very hard to house hack a duplex that you can live for free after paying the mortgage & utilities.

-Keep in mind that there will be repairs & maintenance that will come up occasionally (depending how well it was taken care of by previous owner)

-You will be living next door to your tenants-if that's something that doesn't bother you you should be fine

-Run the numbers with both side rented once you move out-if that makes it a good deal (little bit of cashflow after mortgage) then pull the trigger

-Overall you are putting 5% down at 2.6% rate with 30 year loan-that's a really good product offered by the banks so if all the above makes sense then go for it and start building the owner occupy portfolio

Best thing you can do is invest in yourself-read books, sign up for seminars (virtual), Join local REI groups. Once you have some knowledge of how to analyze deals, analyze your market & connecting with local experienced investors you can start to invest in the rentals. You will find out the different strategies that would work for you (flipping, buy & hold, tax lien or syndicate). First few months invest some time in learning the lingo & the strategies.

Sounds good! Thanks Adam.

@Adam Tafel yep I agree! I looked at it today and it’s over priced. Do you have the link for $470k property on the west side?

@Corey Hawkinson yep it’s the one on mls. It is zoned as 3 units but it has its own separate studio. I don’t know much so far but agent mentioned 2 units has paying tenants, and 2 units vacant. I assume he counted studio as 1 unit. Yep I’ll have to do more research. If city has it as 3 unit not sure if 4th unit can be rented out.

@Noah Chappell-thank you for the insight. As long as the area is good then I’ll take deep dive into the 4plex condition but sounds like all current owner completed all required repairs after inspection when they bought it few years ago as well as a recent TISH.