New investor looking for someone with a seasoned eye

[Kyle Gagnon]

Hi! My name is Kyle and I've been stuck in analysis paralysis for longer than I care to admit. I have never had the guts to take the leap until now. I have found a potential match in a Northern neighborhood of Denver. 10-15 minutes from downtown. I am looking for someone that can take a look at my rookie-level underwriting and tell me what my blind spots are and what metrics they would use in a market like Denver. Is there anyone out there with a few spare minutes that is willing to help a newbie avoid making a life-altering (potential) mistake? Please help!

[Ben Einspahr]

@Kyle Gagnon your numbers for both LTR and STR seem pretty accurate. I always like to lean towards the conservative side. One thing to keep in mind is the jumbo loan limits for Colorado. When analyzing your acquisition costs and monthly PITI keep in mind this will be considered a jumbo loan if its a triplex and loan ends up being over $1,058,850 in Denver County. Do you have lending set up? I can give you a few recommendations for some local investment friendly lender to reach out to.

Your mentioned concern about vacancy for STR's. I wouldn't worry about that. If you do a good job furnishing, great photos, and have competitive pricing, you should have no trouble maintaining high occupancy even during slow seasons (oct-feb) Airbnb is my jam.

Regarding diving deep into the numbers, I will message you a link to Chris Lopez' house hacking spreadsheet @Kevin Smith was mentioning along with some deal analysis videos on local house hacks. I am very familiar with this spreadsheet so I would be glad to walk you through it. If it is a good deal, act fast. Cheers