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All Forum Posts by: Anson Young

Anson Young has started 91 posts and replied 1784 times.

Post: Would you be OK if your realtor had full sleeve tattoo?

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725

I have visible tattoos, and have no issues at all.

Post: New Investors, Plan to buy in Denver w/ FHA, exploring BRRRR

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725
Originally posted by @Matt Glebus:

Thanks for the responses all.

@Matt M. / @Anson Young- we believed FHA (or owner occupancy loans) would be a good start for our first rental with less required into the deal allowing us to learn from the experience and deploy the rest of our funds to our next properties. I believe we do have funds for remodeling but are looking for more of turnkey with less required day 1 work as we want to buy more than one by. I understand my initial 500k figure may be quite low in the Denver market for duplexes and this is not the max we are looking at. Our goal would be to find a property, likely in the 500-900k range, that will cash flow and require potentially some but not extensive remodeling. Thoughts/recommendations as we speak to lenders and look closer at properties?

@Anson Young Understand potential concerns there and as we speak to lenders we may need to pivot to another financing option. That said, Max does plan to reside in the Denver property for 12 months at this point so hoping this isn't too much trouble. 

@Catie Lawrence thanks for the awesome tips - noted all and will surely be revisiting each as progress. Millennial Real Estate Investor podcast episode 102 bookmarked for my airport listen this weekend! On the LLC, we are considering creating one ahead of our first investment - @all, any downside in this?

Appreciate it all.

Best,

Matt



Sounds good, Matt!  If he is going to live there you will have no problem, and of course the turnkey aspect eliminates the need for 20-30k in rehab funds per unit!  Sounds like you have a good grasp of you goals, and the road to get there!

Post: New Investors, Plan to buy in Denver w/ FHA, exploring BRRRR

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725

I agree with Matt, if FHA are the funds for remodeling available? You are also choosing an owner occupant loan product while you are in london and your partner is currently not living in Denver. The lender/underwriters will have questions about your intentions to actually owner occupy on the FHA loan.

As for team: many of us agents have great lenders and contractors, I can connect you with a good PM as well
Areas: LOTS of areas that you cant go wrong, I really like southwest denver for affordability and access to downtown.  I also like the 36 corridor, for access to boulder and downtown both.  But there are at least a DOZEN winner neighborhoods in Denver...


Post: Canadian Wholesaling. How to skip trace in canada?

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725

Post: Bird dog vs wholesale

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725

Bird dog finds the property, and sometimes negotiates price, terms, etc.  They then bring in the investor who locks up the deal.

A whoelsaler finds the property, negotiates price, terms, etc, then lock up the deal contractually.  Then they sell the deal to another investor/buyer.

The bird dog does 75% of the work of the investor for WAY less money than the wholesale fee.  Bird dogging is good for learning, but after a few deals you should be ready to graduate to wholesaler!

Post: Must haves to seal the deal?

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725

Well, buyers help for sure when wholesaling real estate!

Post: First Time to Try Goal Setting with KPIs

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725

While I REALLY like the mindmap, I think its missing actual KPIs you can track back to your $10k/mo goal.  (of course, some of this you wont know right away, but it gets you down the road to KPI goal setting) How many wholesalers PM's translates into a deal?  How many deals to get to your $10k/mo goal?  How does the input effect the output.  How many offers per month?   How many offers per deal?  Because "make offers monthly" is far too vague.  

I think you are on the right track for sure, but needs sharpening so you know exactly what you are working towards and can assign tasks daily.  I'd recommend the 90 day intention journal by Brandon Turner, it helps especially with those DAILY tasks that get you closer to your monthly/yearly goals.

Post: What are the Best Neighborhoods in Denver?

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725

You are too late, I already now own all of so called "Indian Village" :-)

I do love learning new things, so there is that!

Post: Pursuing a degree in Real Estate

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725

I honestly dont know anyone in real estate who has an actual real estate degree.  I'd say, get a business degree, your real estate license and the CCIM commercial real estate certification and you will be light years ahead of most real estate professionals.

Post: What are the Best Neighborhoods in Denver?

Anson Young
Agent
Posted
  • Flipper/Rehabber
  • Denver, CO
  • Posts 1,899
  • Votes 725

Indian village is new to me, too.  I mean, I've driven by it a million times, but didnt know the name of it.