All Forum Posts by: Travis Hatch

@Jeff White Thank you Jeff!  I see you had something similar in Northglenn a little while back.  I'm excited about it as my first property!  That's a really good point about the egress and I definitely plan on building one - do you know by law if there needs to be one per bedroom, or one per basement?

Investment Info:

Single-family residence buy & hold investment in Denver.

Purchase price: $405,000
Cash invested: $15,150

My first property, doing a single family house hack. 3 bedrooms upstairs, 1 in the basement. Renting the 3 upstairs bedrooms to live for free, building a room in the basement for cash flow.

What made you interested in investing in this type of deal?

Originally looking for a multi family house hack, the numbers weren't working. It started to make sense to work the single family house hack, and then this deal came along which worked out great so far!

How did you find this deal and how did you negotiate it?

This is an off market deal that I found through a family member. My aunt is a real estate agent in Maine who got a call from someone who wanted to buy a house from them in Maine and needed to sell their home in Denver. I was with her at the time, so I spoke with the seller and we handled the whole thing off market.

How did you finance this deal?

Conventional loan, 3% down

How did you add value to the deal?

Buying below MLS value, and building an additional bedroom

Hi, i'm closing on my first property on Tuesday 10/29 and will be house hacking.  It's a single family home, with 3 bedrooms upstairs and 1 in the basement.  My insurance agent has suggested that I do a Homeowner Insurance Policy on the house, and require all the tenants to have their own renters insurance.

It seems there are options (for instance, have a landlord policy on the house and renters policy on myself) so i'm curious, what has worked for people in similar circumstances in the past?

Any ideas, discussion, or lessons learned welcomed!

Thank you!

@Cam Schumacher - thank you for the reply and recommendation!  

@Chris Lopez wow, such great information!  It's reassuring to hear.  I'm going to go through this again and jump into the links you sent me and get back to you!

@Chris Lopez - thank you I'll check the links you sent me, I was hoping I was doing something wrong!

Hey J - we are in the exact same position!  I am new to this community and I just moved to Denver.  I'm currently living rent free, but have several options for very cheap rent in Denver.  I have money saved already for investing.  My initial plan was to "house hack" here in Denver with as little money down as possible, and use the rest to invest OOS.  The trouble i'm having is almost all of the properties i've seen, it would be "cheaper" to rent, and wouldn't touch my capital at all saving the rest for investment properties OOS.  I'm wondering if i'm missing something, or maybe looking at the wrong type of properties or wrong areas.  If you ever want to discuss i'd be happy to connect!

I just moved to Denver a couple weeks ago and am looking at buying my first property to move into with my girlfriend.  I'm still getting to know the area and any advice would be greatly appreciated.

My main two goals:

1.  I want to "house hack" as much as possible, either airbnb, rent out a room or two, or on the off chance i'm able to find a duplex rent the other side.

2.  I want to be able to break even (or even better = cash flow!)  when I move out in a year or two.

So here are the areas i'm struggling, any advice would be really helpful!

1.  What neighborhoods would you suggest?

2.  Property: would a turnkey condo or townhouse be the right move especially for renting out later?  Or should I be looking at single family homes?  Should we be looking for B/A class turn key, or something that requires work?  It seems a lot of these properties that require a lot of work are still priced very high and it doesn't make a lot of sense, so i'm considering if something more turn key and updated / ready to go may be the best move.

Looking for properties $400 and under.

I would really appreciate the insight in the local Denver area!

I just moved to Denver - if you find ourself out here again i'd love to learn about it!