All Forum Posts by: Andrew R.

Hello Boise community, 

   Do developers build in the inner core (urban area) of Boise? Do they tear down old homes in mature neighbourhoods  and intensify by building towns or semi-detached dwellings? It seems like in Boise, most builders just buy lots in the suburbs. 

   Does the city allow for semi-detached (side by side) / town homes? I ask because all I can see is single family homes. Maybe its because I am looking only on realtor.com? 

   Any info helps!

Cheers,

This is a question specifically for the US or Canada. My question is referring to conventional banks. I am hoping some lenders or well seasoned vets on this website can help me. Most conventional financial institutions will finance a property at an 80/20 LTV. I understand there are a lot of veriables and no one situation is the same. I am simply looking for some general information to my inquiry. Lets assume I have 20% in cash of the appraised value of the property that I am interested in. Will the banks finance the remaining 80%? Will they still do this if I don’t have any income coming in? What if my only income is flipping houses? Is it possible to get financing without the bank seeing a traditional 2 week pay stub? Any information helps. Regards, Drew

@Tom Murray Hi Tom. Do you mind me asking what part of southern California you're investing in? Thanks 

@Matt M. Thank you for your reply. I should mention that I am still in the preliminary stages of deciding what city to relocate to and not 100% set on Denver, especially now since it sounds like Denver has already peaked. Yes, I have experience with spec homes / new construction.

@Kevin Grinstead Thank you for your input! Much appreciated. 

Hello Denver,

I am looking to relocate to the USA from Canada through an EB-5 investor Visa. I love the city of Denver and want to pursue my real estate career here. This would be a long-term business decision.

I am looking to build spec homes as my active income and to build rental properties for my passive income. From the sounds of it developers/flippers seem to be doing alright in Denver. Can someone please confirm this?

My real concern right now is with the rentals. I would be building rentals so I can cash out refinance my deals. I heard its a tight market and difficult to cashflow. Does this still apply if you’re building 5+ unit apartment buildings?

Will Denver still be an investor friendly city 10 years from now? How are developers doing in the city right now? If not Denver, are there any other recommended big-ish cities in the USA?

Regards,

@Matt M. 

Matt, 

   You seem to be well appointed within the city of Denver. If I was in the area I would have loved to visit your flip project. I am currently a Canadian citizen looking to migrate to the US through an EB-5 investor Visa. 

   I am looking for a city where I can build both spec homes and rental properties. Do you feel that Denver is a viable long-term option for this? I would be building spec homes for active income and rental properties for passive (brrrr investing all rentals - don't mind leaving some equity in the property if it means cash flowing positive). I understand that positive cash flow is harder to come by in Denver from what I read but ideally I would only be interested in building 5+ unit apartments to try and avoid overly appreciated properties. Is Denver a solid long term city to invest in or is it only going to get harder and harder as prices continue to increase?

Thank you 

Wonderful/intelligent people of BP. I know there is much more insight out there that will help me with my big decision. So I will kindly bump this post and ask again politely. 

What US city should I move to? I am a developer. I want to find a city that will allow me to build spec homes and rental properties. 

I would also really appreciate any information from the locals of Denver. Having said that I am open to all suggestions when choosing a city.

@Michael Norris Thank you for the response. Greatly appreciated. Will there be any repercussions that you can see investing in Tampa because of the construction boom? Do you see it as a viable place to invest long term? Is there opportunity to build multi rental properties? 

You didn't mention anything about Denver. Do you think this market is already too appreciated? Or do you simply just not know enough about the market to comment? Thank you 

Hello BP,

I currently live in Ontario, Canada. More specifically the GTA. Through an EB-5 Investor Visa I am looking to move to the United States to pursue my real estate career. An EB-5 Visa will allow me to obtain a green card and permanent residency. I am looking for a city that is good for both spec homes and rental properties.

I am looking for a city to both invest and live in. I plan on building spec homes as active income and building rental properties for passive income. I would be building rentals as opposed to flipping because its a cheaper alternative in more expensive cities. It also has numerous benefits like low CapEx and Repairs. I want my spec homes (flips) to be in the same vicinity as my rental properties. I have no interest investing into rentals out of state.

I want to build spec homes (flips) with project values roughly at $1.5MM and up. It could be semi-detached units at $750k each. 3 town homes worth $500k. Or a single family worth $3MM. I am simply just trying to give people a feel for what I like. I am looking for a big enough city that will get me excited.

The city should have a metropolitan population of atleast 1,000,000 (including surrounding areas).

Because I would be building rentals I would be looking to Cashout Refinance all of my deals. So I am trying to find an area that will most likely cash flow positive with a 70/30 LTV. Please keep in mind that these rental properties will likely be considered commercial. As I would be building 8-15 unit apartments. I don't mind leaving A BIT of my own equity into the property if it means breaking even or staying cash flow positive.

Los Angeles would be my most preferred destination because who doesn’t love California? But I understand that building a rental portfolio that will cash flow is incredibly hard in LA. I would really like to move to Denver but I heard cashflow rental properties are also difficult to come by. Does anyone know if this still applies when investing in commercial rental units, say 10+ units? From what I gather, its easier to cash flow positive on larger apartment buildings.

I am definitely open to different suggested cities throughout the United States. I am excited to here your guys’ opinions and advice! Thank you

Hello BP,

I hope all is well. This is my first post as a member. I currently live in Ontario, Canada. More specifically the GTA. Through an EB-5 Investor Visa I am looking to move to the United States to pursue my real estate career. An EB-5 Visa will allow me to obtain a green card and permanent residency.

I am looking for a preferred city to invest and live in. I plan on building spec homes as active income and building rental properties for passive income. I would be building rentals because its a cheaper alternative in more expensive cities. It also has numerous benefits like low CapEx and Repairs. I want my spec homes (flips) to be in the same vicinity as my rental properties. I have no interest investing into rentals out of state.

I want to build spec homes (flips) with a project value of at least $1.5MM and up. It could be semi-detached units at $750k each. 3 town homes worth $500k. Or a single family worth $3MM. I am simply just trying to give people a feel for what I like. I am looking for a big enough city that will get me excited and something that I am already used to.

The city should have a metropolitan population of atleast 1,000,000 (including surrounding areas).

Because I would be building rentals I would be looking to Cashout Refinance all of my deals. So I am trying to find an area that will most likely cash flow positive with a 70/30 LTV. Please keep in mind that these rental properties will likely be considered commercial. As I would be building 8-15 unit apartments. I don't mind leaving A BIT of my own equity into the property if it means breaking even or staying cash flow positive.

Los Angeles would be my most preferred destination because who doesn’t love California? But I understand that building a rental portfolio that will cash flow is incredibly hard in LA. I would really like to move to Denver but I heard cashflow rental properties are also difficult to come by. Does anyone know if this still applies when investing in commercial rental units, say 10+ units? From what I gather, its easier to cash flow positive on larger apartment buildings.

I am definitely open to different suggested cities throughout the United States. I am excited to here your guys’ opinions and advice! Thank you