All Forum Posts by: Travis Sperr

@Stacey Yates  Welcome to Biggerpockets. No question that flips will provide capital to acquire rentals, but a steady income will also be important for the financing of the rentals. Knowing that your husbands income will not have a steady income after June 1st and  nothing about your financial situation - you could get a few rentals before the income goes away or just hit it hard looking for flips to replace that income. If you can get a deal going soon, you may close it out shortly after his employment ends and keep moving in stride.

Best of luck [removed]

@Dalton Skach  Where to begin, I am sure plenty of responses will tell you why this is a bad idea. Specific to your question, assuming a primary residence - because you didn't mention income from said property - I am not sure loans like this are even legal anymore following the government intervention of the lending world - Dodd Frank.

That does look high to me - try Shawn Pehrson [email protected] 

651-288-4992

@Kelly Sennholz  Unicorns, I love it!

Properties I bought in 2010-2012  - Unicorns. 

Prices vs rents now - Miniature Horses.

I think a typical cap rate in and around Denver is 6-8%, assuming you aren't finding off market deals. No doubt rents are up just like prices. 

@Haden Barkley one way to use your VA benefits again would be to refi your current property into a conventional loan, then buy again with VA. Assuming you have the equity to do so. I believe you may be able to use benefits twice if there is an extenuating circumstance - such as employment change, needing to move, change in family or something of the like. I am not a VA specialist just things I have heard.

Welcome to the site, let me know if I can help you here locally as you jump in. 

I will second @Anson Young Projects all over the place, Castle Rock to Thornton and beyond. I am seeing very profitable deals right now - some in the lower price range and a lot in the higher price range. Most experienced investors have shifted focus to new construction where the deals are very profitable, of course some would measure as more risky and cash on hand is the price of entry.

Costs are rising, Values are rising, Rents are rising, hold on to your hat cowboy!

@Michael Klein  just reach out to your insurance agent for a quote on a deal you are remotely interested in, they can quote coverage without an inspection or even visiting the property. If you are getting a loan you will need insurance coverage beyond liability, even if you paying cash insurance makes sense to have in place.

@Brandon O. Taking an FHA loan on a property with the intention of not living there is a little something they call mortgage fraud. The chances of facing penalties are relatively low, but not worth it.

@Scott Miller hit that one on the head - metering is much more effective, for a similar or less cost per unit, leaks and heavy usage are easy to detect and will be more beneficial in cost savings. Even without the local water providers involvement you can hire out sub-metering privately, have the readings delivered to you via the interwebs and see where the water is going. 

Depending on the number of units there may be opportunities for rebates or even free toleits.