All Forum Posts by: Brittany King

My name is Brittany. I'm a active duty soldier who is currently deployed. Wile I'm out of the states I wanted to start working on my education. I wanted to know how should I go about becoming a general contractor in Colorado springs? I've Googled it and the state of Colorado does not require contractors to pass an exam or receive a certification to operate a business as a contractor so where would I go to learn? The military is going to pay for my education and I would like to go into a field that will enhance my position as an investor. Also what would be a good degree program to study? Finance, economics etc? I just want to make the best use of this educational opportunity. Thank you all in advance for your advice. Have a great day!

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Originally posted by @Bill S.:

@Brittany King a little late to the party here. Aside from expenses mentioned above at closing, multi-unit properties can have a large number of ongoing monthly costs that you would not ordinarily think about.

Utilities. If they are not individually metered, the landlord is on the hook for those. Think water, sewer, gas, electric, cable, telephone, and trash. The more of these that are paid by the tenants the better. Of course they fall back to the landlord if the unit is vacant.

Property taxes and annual fees - Some areas have annual assessments for things like storm water drainage in addition to property taxes. They are typically not a lot but they also add up.

Thank you Bill for replying. Where do I go to find out if my area will have annual assessments?

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Originally posted by @Ernest Adams:

Brittany:
Have you considered to start by buying a 4-plex utilizing a Veterans Affairs (VA) no money down home loan???
Many veterans do not know of this.
Expenses vary depending on the property.
I invest in fix and flips and own a 4-plex purchased and refinanced a couple of times through VA Home Loans in Colorado Springs.
I try to spread the word and help as many veterans as I can.
Respectfully submitted, Ernest Adams

Hello Ernest,

Thank you for taking the time out to reply. That is exactly what I want to do. I'm searching the market for 4-plexes to get an idea of expanses and cash flow. If you don't mind me asking how much do expanses cost you per month?

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Originally posted by @Kevin Grinstead:

Hi Brittany, you have to worry about closing costs which vary based on the taxes and insurance on the property. If the multi-family unit is more than 4 you can not use an FHA loan and VA I believe is the same. I will have to verify. It is also important to look at the age of the Furnace, Roof and Water Heater since they will all be expensive to replace. Currently, there are very few repairs the sellers are willing to do in this market if something is old or even broken but each case is different. One benefit of buying is that the Realtor you choose to help you is usually paid by the Seller.

Thank you for your service and we will be praying for you until you return safely.

Hello Kevin thanks for the advice. How old is to old for a furnace, roof and water heater? 10 years, 15 etc? Are there certain brands I should stay away from?

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Originally posted by @Norberto Villanueva:

Hi Brittany. Thanks for posting. Aside from relatively fixed costs like property management, taxes, insurance, utilities and HOA fees, controlling maintenance costs can be a bit like herding cats. For the most part, it's a not if but when exercise, where it's important to know projected costs for big ticket items then setting aside each month for that proverbial rainy day.

@Brandon Turner wrote a good article about it here: https://www.biggerpockets.com/renewsblog/2015/10/1...

All the best!

@Brandon Turner

Thank you Norberto for the great info. I appreciate it.

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Hello everybody!

Thank you for taking the time out to look and respond to my post I really appreciate it. I'm a brand new investor and I'm currently deployed I going to buy my first investment property when I get back in the states spring 2017. My question is what expenses should I be aware of when I buy my multi family home in the Colorado Springs area? I know the weather can be extreme in both directions with the snow and heat but what else should I know? Any advice would help. Also where can I go to calculate these expenses? Thank you all have a great day!

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this is great thanks for the info

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Hello thank you for taking The time to read my post.

I'm going to start college soon and I wanted advice on what courses and or degree should I get that would enhance my career as a real estate investor.

My goal is to invest in multi unit properties.

Thank you for your time and advice

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@MarieGilson check this out for real estate investment meetings in Baltimore

http://www.baltimorereia.com/

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Hello Marie,

My goal is to invest in the Baltimore County area as well. Have you gone to any Baltimore real estate investment club meetings? It's a great place to network

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All Forum Posts by: Brittany King

Brittany King has started 17 posts and replied 84 times.

Post: Soldier needs help with education

Post: Active Duty Soldier Investing in Colorado Springs Aera

Post: Active Duty Soldier Investing in Colorado Springs Aera

Post: Active Duty Soldier Investing in Colorado Springs Aera

Post: Active Duty Soldier Investing in Colorado Springs Aera

Post: Active Duty Soldier Investing in Colorado Springs Aera

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Post: College

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Post: Newbie in Essex, Maryland