All Forum Posts by: Frankie Woods

Colorado is a hot market right now, so finding deals that will give you a "decent return" (depending on what you mean by this) will be difficult.  Many people on BP recommend the midwest (e.g., Indianopolis, St Louis, Kansas City, etc.) because of the low price points.  However, you have the money which pretty much opens up the entire U.S. market.

@Bob Hines , sigh.  I wish I had seen your statement earlier.  I currently just closed on a 4-plex that I thougt was an excellent deal.  Paid ~60k for it near Gravois park.  It needs tuckpointing and will most likely need either a new roof or at least some work.  I will probably end up putting a minimum of ~30k more into it.  SMH.

I would tell myself NOT to buy that condo back in 2007 with horrendous HOA AND Condo Fees. Instead, I would hack my house by finding a multifamily, live in one of the units, and rent out the rest.

@Kevin Patterson 

As you can see, the community here is both well-versed and helpful. As others have already stated, I too believe that the best thing that you can do is get educated, and the resources on this site are second to none.I would also add that participating in the forums/blogs (i.e., both asking AND answering questions) is one of the keys to transforming information into actionable knowledge!You’ve taken the first step already by introducing yourself!

Welcome to BP @Naren Gunaseelan 

Welcome to BP @Evan Nance 

You have found a wonderful resource.  I just started engaging in the community a month ago (after gourging information for about a year) and it has DRASTICALLY changed my perspective about real estate, making me much better at understanding 1) what I want out of R.E. and 2) how to get to my end goal.  I was kind of a lost ship, but now I've found my way!  I hope you have similar success!  Just be sure to stay engaged!
 

Welcome to the site @Michael Baker 

I've found that building your own analyzer to fit your needs is generally the best method.  It forces you to truely understand the numbers.

If you live in one of the units, the banks will not consider it an "investment property" as long as it's less than 5 units. 

I would caution you about betting on appreciation.  Though it is nice and can be somewhat predictive, it is still a form of speculation.  Always be sure that the numbers work WITHOUT considering appreciation first.

Welcome to BP @Jonathon Lovell !  Congratulations on making the decision to take control of your destiny.  It looks as if reaching out has already been beneficial!  You are in good hands!