All Forum Posts by: Barak Hamdani

Hey,

I'm about to put an offer to a condo in Greenwood Village, Colorado. I'm buying this condo for my mom, which lives in a different country.

She's paying cash for it, and I'll manage it for her. Our plan is that both our names will be mentioned in the title (she will own 99% and i'll own 1%).

From a buying process perspective, since she can be in town only in about 2 months, and we don't want to miss this deal, we thought that as a first step, we would only put my name on all documents/deed/title, meaning i'll be the one to buy the condo, and then, when she gets here, we'll just add her to the title.

Does is sound like a good/legal/applicable strategy?

Are there any tax implications?

many thanks

Thank you @Joe Massey

I just started watching your videos on Chris Lopez's website about a week ago, so thank you very much for that as well!

@Bill S.

Thank you Bill. You are probably right, my questions  were to general. On the other hand, your comments are helping me refine it and focus on the right things, so it's very helpful in any case...

to your comments (and some follow up questions):

1. We are looking at rentals, with positive cash flow (willing to live with no cash flow, but not with a negative one).

2. You've mentioned 4 units - so this was our thought as well. To go for one or two multifamily properties rather than a few smaller ones. Do you think it's the right strategy? for Denver?

3. Knowing the situation in the market currently, we are not sure that COC is the the right KPI, maybe cap rate?

4. Can you explain what owner carry means? not familiar with this term...

5. You've mentioned quality of area. In your view, which areas are attractive? I live quite close to the Wash Park area, lots of old bungalows turn into townhomes or triplexes. Would you go for one of these renovated properties?

Thanks a lot.

@Michael Glist

thank you.

We are looking at rental properties, not F&F. 

We think that with the cash we have a multifamily would be a better investment than a few apartments or houses, actually this is one of the questions we have. Would you go for one (more expensive) multifamily, rather than a few separate smaller properties? 

Also - why do you think Colorado  is the right market? could you share your thoughts?

Thank you all.

@Tanner Crawley

Good questions. We are thinking of owning the properties for about 5 years. We'd love to have a positive cash flow from day 1, but I'm not sure how realistic it is in the Denver area, which I agree is more an appreciation market (this is why we're looking at out of state opportunities). So seriously considering cap rate as the right KPI. Any advice on the right indicator?

What would you suggest as the right strategy for us? 

it should also be mentioned that both of us have day jobs, so the cash flow is not a must at the early stages.

Hello all,

My partner and I are interested in real estate investments (we have some experience, not a lot...). I live in Denver. My partner lives in NJ. We have about $400K in cash (so assuming a 25% DP, we are talking about a $1.6M investment/s).

We thought of investing either in the Denver Metro area or Out of State or both. And as far as Denver, we are thinking of multifamily properties. We'll be happy to get you perspective and advice:

1.  Does it make sense to get into the Denver RE market these days?

2. Does the very high level strategy mentioned above makes sense?

3. And generally - how would you invest the $$ mentioned above?

Thank you all in advance!

why would you go for a negative cash flow? just curious...

Hey Tim, I'll be happy to attend (first time). Any registration required?  thanks