All Forum Posts by: Bret Burton

Hi Christina, welcome to BP. I currently live in Avon, CO. I've been investing in this area for 4 years and I have 7 properties between Avon and Eagle-Vail. You've got some interesting questions...

I have similar interests and traveling is very important to my wife and I. I'm 32 years old and we're currently looking at spending 3 months abroad a year while spending the rest of our time in the Vail Area. We'll only be able to do this because of our real estate investments. So keep in mind that you don't have to stop traveling to be a real estate investor and you can increase and escalate your time abroad by having good investments. 

This particular area is really interesting because you can live here most of the year and if you want to travel during the winter or summer months, you can rent your property month to month and use your excess income to cover your living expenses abroad (especially southeast Asia). Read 4 hour work week. some of it is nonsense, but a lot of the principles will be great for you. Just keep thinking real estate. 

As you know there is a housing crunch in the area that won't be solved for years to come. Long term rentals (if you get into the right one) will be predictably strong earners. The short term market is useful if you would like to travel easily but you probably wont have as good of cash flow. 

I highly recommending buying a 3 bedroom and renting out the other two rooms (or a duplex-fourplex if you arent living in Eagle County). Its house hacking and if you buy the right place, you and your partner can live for free. They exist in Eagle County, you just have to be ready. its the best way to save capital for your next project. 

How long have you been here? Have you considered living in this area full time? 

I am looking for reliable wholesalers in Eagle County CO. I live in Avon and primarily invest in Avon and Eagle-Vail. My team pays cash and closes quickly on properties. We're currently looking for properties under 500K in need of TLC to BRRR or to flip. Please contact me if you have any experience in wholesaling in Eagle County.

Hi Paul, I am a buy and hold investor in Avon. I own 3 properties in eagle-vail, and 4 in Avon. I'm looking for a wholesaler for deals. My team pays cash for properties primarily under 500K. I haven't been able to find anyone delivering deals in the Vail Valley, so this could be a great opportunity to break into real estate here and build some capital.

I found a property that I'm very interested in. It's a buy and hold property that is already cash flowing well in a market that's becoming more and more challenging to find positive cash flow properties. The owner wants out of the property as he's upside down and wants to move to Costa Rica for good. Unfortunately, I don't have all of the cash needed for a down payment. My partner will be getting the remainder of the down payment in about a month. I'm trying to figure out a way to get the owner under contract despite lacking a preapproval from a lender and without proof of funds. The owner is not willing to do a subject to mortgage.

Does anyone have any creative suggestions about buying this property?

Thank you Daniel.

I'm assuming I would have to structure the deal in a way that I would be paying off the balance in default to make the loan current?

Also, once it is in preforeclosure and there is an auction date, is it too late?

Is it possible to execute a subject to mortgage sale after the foreclosure process has begun? Is it more likely that the loan will be called on the transfer of the deed?

Joel, Thank you for your time and input. I think you've triggered a plan...

I've always been certain I wouldn't sell these properties because of the consistent cash flow and good location.. until now. If I sold my lowest earner, I would pay the 30k down for the commercial unit, pay off my equity loan and still have 28K left after all is done. I'd increase cash flow by 450/ mo, increase the overall value of my portfolio and have 28k cash in my pocket to apply to something else.

Luckily I live in an area that cannot expand in any direction. We're in a valley in the mountains with a growing economy but not growing in available land, so the value and demand is increasing. It is a smaller unit that has almost 4 more years on the lease with a reliable tenant.

I've looked into quite a few larger commercial units but the availability of owner financing and those terms are limited. Also, the rent being charged on this unit is well below market.

I think I can make this work. Thanks Joel!

I am a buy and hold residential real estate investor near Vail, CO. I've bought 4 places in 2.5 years valued at over a 1,000,000 and it looks like I wont be getting traditional financing from my lenders any time soon. Properties around here have exploded and the 25% down I have to find is temporarily out of reach. I recently found a commercial unit that the owner is willing to finance at 5.5% with 10% down on a purchase price of 295,000. Rent is $2950/mo with four years left on the lease. With these terms my cash flow is light because I'm pulling equity from another property to cover the down payment. It actually works out to almost break even. I'm hoping to negotiate down to 5%, which would cash flow $80. This is a number we would generally never accept for cash flow. My initial reaction is to say no on the property...

But, if I calculate a similar residential property that we have to put down 25% and we get the loan for 30 years, I would actually cash flow $800, which there's no question we would take that investment.

This would be my first commercial property and I'm very apprehensive to accept such a low cash flow, even tho the long term would be great. I'm concerned about being overly exposed if there's a vacancy due to the high monthly cost. 

I know there are a lot of different schools of thought on this, and I would like for someone who has some commercial experience and possibly some experience in a situation similar to this to give me some advice on this decision. Thank you for helping me on my first forum post!