All Forum Posts by: Adam Gusky

That is what I’m planning on doing 

I appreciate all the advice. One thing I forgot to mention was that we are currently renting a place for $2850. Given all the advice I have received today, I think it doesn't make sense to purchase a place (from a business perspective) in Denver.

I am leaning towards looking into remote markets where I can purchase a house for around 100k, like Cleveland for example.

You guys are right though, I am looking to get into real estate without sacrificing my personal living situation. I'm ok with it being a slower thing, I still think it makes sense to start accumulating properties now. And even though I'm not willing to house hack, I still want to be as strategic about this as possible.

If I'm interested in purchasing a nice home for myself and decide on a duplex, why not pick a nicer area? It's still building more wealth than what I'm currently doing, which is renting and owning 0 properties. And if it's a duplex, I'll be paying a much smaller mortgage payment each month given the other unit is rented out. Right? Or am I missing something? 

Hello, 

I am looking to purchase my first property between $100-$300k that I can manage remotely. I care more about cash flow than appreciation, but obviously don't want to be in an area that is depreciating at the same time. Open to hearing about Airbnb/vrbo but had 12/yr lease in mind.

Appreciate any advice and tips!

Thank you @Alecia Loveless, @Joe Villeneuve, @Nathan Gesner , @Jeff White, @Bonnie Low, @Zach Scherschel. I learned a lot from reading all of these responses. 

Based on the information you all provided, and talking with my wife, I don't think we'd be willing to do any harder-core house hacking like renting out a room in our home but moving to a nice duplex to live in for a few years is something we are open to.

Any recommendations on nicer neighborhoods we can afford in or around Denver? Living in an area that feels and is safe is most important, but we currently live in Speer and love the walkability. 

As far as purchasing a place remotely, I'm still a bit concerned that the margins would be lower since I can't PM and fix anything myself, and it seems like it would be a bit more of a hassle. However, I'm open to hearing from anyone that is currently doing it. I'd love to look at what that playbook looks like.

Thanks, everyone!

Hello BP community,

I am 26 years old and recently moved to Denver. I am looking to purchase my first rental property. I am in Denver and would ideally purchase a property within driving distance so I can easily fix it up and manage it. 

I have around 60k saved (with an additional 100k in roth and 401k that I’d preferably like to leave alone). Is it feasible to purchase a property in the Denver metro area? I’d prefer something that cash flows, even if I have to do a bit of work on the property.

Any advice is greatly appreciated!