All Forum Posts by: Andre Galaviz

Welcome @Andrew Shrigley. You've joined a great group of super helpful people here!  

Great job @Irina Barnett, @Ben Einspahr and @Jeff White. It’s great to see this one posted. It definitely inspires me to keep working towards the first investment properties for my family! Congrats!!

Hi Tiffany, welcome to BP! There are meet ups that get posted here. The ones I've seen so far are Denver metro or Colorado Springs. I've only attended one since things started opening up again, and it was great connecting with people who are interested in sharing knowledge and stories. I'm looking for the next one myself, so I'll look forward to seeing you there. Best of luck!

Thanks for all the suggestions! I have a ton of appreciation for the BP community. I learn a lot from everyone every time I post a question. I'll do the work! Again, I appreciate all the information. @James Carlson I'll check out your podcast, thanks!

@Neil Fray congrats! Thanks to the knowledgeable people in this community, I have learned that surrounding areas are STR-friendly, like Arvada, Wheat Ridge and Centennial. Some are closer to downtown, like Arvada, so you'd have less of a commute, but for the opportunity to invest in a market like Denver that may work out for you. I'm looking at STR areas around Denver myself, and those are the ones I know of so far. Good luck in your search!

Hello all, I am looking for a resource that shows STR-Friendly locations. I know in Denver, CO area that Arvada, Wheat Ridge, and unincorporated Adams County allow STRs. I'd like to know about Greeley, Loveland, Fort Collins, Colorado Springs, Pueblo and Trinidad. Is there a resource that lists this kind of info? Thanks for any help!

@Melanie Collins, my wife and I are considering selling to purchase two properties and make one of the two our primary for the next year. The the other option is a duplex, if we can find one with enough sq ft. You mentioned potentially investing in another market. That is a longer term goal for us as well, just cutting our teeth in our own backyard, as recommended a lot by others more experience than us. As @Stuart Grazier said, sounds like you have "many options!"

Ultimately, we are leaning towards a sale to extract the equity and invest in two properties outside of Denver. 

A few people mentioned cash out refi, but is that still a viable option with the rates increasing? Maybe meaning for BRRRR, or flips... We thought about a cash out refi, but looking closer, we would be using funds for down payments, so it would just increase our rate and reduce the amount of cash we would have access to for our purchases.

I'll be interested to hear which way you go. Good luck!

Welcome to BP @Benjamin Rosen! I am just getting started as well. I live in Denver metro. BP is a great community to get connected and gain knowledge. Thanks to BP, and people in this forum, I am just a few decisions away from my first two potential investment properties! Happy to connect with you anytime. 

My wife and I are looking to buy another property in Denver, yes, hot market and all. We will do some  cosmetic repairs to our current home and focus more effort on any rehab that would upgrade the new property. The biggest update we will consider for our existing property is adding a room by way of a new egress window. That would bring additional cash flow. But other things, like opening the kitchen up into the dining area would not fit into our game plan, so we are passing on those for now. I may think differently about it after gaining more experience, but it seems like the best option for us.

Good luck staying out of that doghouse @Vincent R.!

Hey Josh, Welcome to BP! I’m a newbie as well, so I know how it goes trying to pick a strategy in the market we are both in. Some of the things that have helped me so far - 1.) checking out the Education section 2.) checking out a lot of BP YouTube videos/blogs/forum posts 3.) getting a Pro membership here to get the calculator access and additional resources (you’ll typically get a discounted first year if you attend a live webinar, etc.) and 4.) networking with people here and posting. I haven’t attended a meet up yet, but that is definitely next. BP has a great community. I’m sure the Pros will come along to share their knowledge here shortly. What’s nice is that even though this question (and many others) have been asked a bajillion times, they always help! Good luck finding the strategy that works best for you and your goals! 

You may want to check out this post as well. You can find it in the Guides section.

Ultimate Real Estate Investing