All Forum Posts by: Bryan Balducki

Tomorrow, Wednesday 9/15 6-9 PM at Joyride Brewery Sloans Lake in Denver area, we are hosting our house hacking meetup on the rooftop, hosted by FI team house hacker agents. Bring anyone and let’s talk real estate investing and financial independence. Let’s get FI together!

@Hector Lewis I would recommend an investment property if the deal cash flows enough to meet your goals. Using leverage is powerful and you can typically make a stronger return when compared to index funds. Just my thoughts, though index funds are more passive than rental properies.

@Andy Collins I would ask them to fix it or get money back to cover closing costs and reduce the price to fix it yourself. It definitely could be a liability like you said. Insurance would still cover you, just don’t mention the step.

@Daniel Vernon I am an investor in Denver and know the West side very well as I have a couple properties located there. The main concerns with a house built before 1900 would be structural and sewer. I’ve had to terminate due to both issues on an older house built around the same time. If you have experience with a full rehab and curing structural issues, could be worth it for that price. May I ask what area it is located in?

@Matt Wells the book I read before becoming an agent was “Sold” by David Greene, and I definitely suggest reading it! Another good read is “Zero to Diamond” by Ricky Carruth. You won’t regret reading either of these. Good luck on your journey!

@Kasey Destache I don’t know whether CA has the same rules, but here in Colorado, we just have to disclose we are a realtor in the contract. I’d say you might be safe to look and get info without disclosing you are a realtor, though I would check with your state broker to be sure. Hope that helps!

@Jay Smith you could ask your neighbors with the same layouts what their utilities are on average and then come up with something that is similar. I’d over estimate at first just to be safe. You could also call the utility company and ask for an estimate, as they might know what the cost was for previous owners of the property. Just my thoughts. Good luck!

@Joseph Micheal I’d shop around for other lenders. You should be able to also get a 5% down conventional loan for a duplex atleast, though this is not lending advice and I am not a lender. Many of my friends and acquaintances are misinformed, thinking that they need a high down payment to get a house. My client just locked in an investment with a 3% down conventional loan…leading me to believe that you have other options. Hope this helps!

@Guillermo Rozenblat depending on your goals and market, I'd consider doing both by purchasing a house hack. Either a single family with 5 or more bedrooms, a duplex/triplex/quad, or even a home with an ADU could work for your situation. Reap the benefits of a low money down/low interest loan, and then move again in a year. You could also leverage that money into a multifamily investment using a commercial loan, although you might want to partner with someone who has this experience. Just my thoughts…good luck!

@Carson Engelhardt my suggestion other than posting on BP like you did, which is great, would be to attend as many real estate meetups as you can. Meetups are perfect for networking and finding partners. Social media can also stream line the networking process. Tell everyone your goals and you are bound to meet a partner. You could also reach out to current Airbnb hosts and see if they would be interested. Hope this helps!