All Forum Posts by: Carrie Brauninger

@Carrie Brauninger sounds like you will be able to find the best of both worlds. Find a house hack that will give you the privacy you are looking for + decreased living expenses at the same time turning into a future rental 12-24 months does the road. First property in your house hack stack!

On the real estate rookie podcast episode 300, a REI was a guest discussed the Dever market.

I learned somethings from it.

@Carrie Brauninger 

Option 1 is not a bad idea if you can make your current home cashflow and at the same time it lets you put less money down to buy another one that you can live in and eventually turn into a rental as well. You'd be investing locally which is always great when you're able to go that route. I'm not as sure about the Denver market but if it's landlord friendly and you can make it work, go that route. 

If you're planning to invest out of state. Research 3-5 different markets before picking one that you want to get started in. Build a core four (agent, lender, property manager, contractor). Start sending offers and work your due diligence period to work the deal. 

Columbus, OH - hybrid market with both cashflow and appreciation. Cleveland, OH - heavy cashflow. Tertiary markets in Ohio - Newark, Dayton, Lancaster

Hi Carrie, I recommend that you look into Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here. Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy). I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

@Carrie Brauninger if you go the out of state route I would consider Columbus Oh--it has good cashflow and appreciation. I would probably try to invest in an area where you can be hands on for a first time investment property. If you do go the oos investing route you'll just need to ensure that you have a trusted team. I'd personally look into multi families.. 

My personal favorite is the duplex. I am biased, but it was my start to retired from the W2.

hi carrie! if you're open to moving and living in a multifamily for a year, i would TOTALLY go with the first option! here's why:

- you'll have a way higher-priced asset appreciating for you from day one
- you'll have way more debt paydown happening for you, by your tenants, monthly, from day 1
- this is an easily-repeatable process every year, to househack a new multi
- you said you're investing for appreciation --> buy the $most$ real estate, for the least amount of money.

i would only go for option #2 if you're totally resistant to moving and living in a multi in denver area. but keep in mind, short term discomfort vs long term wealth...

don't be afraid of a tenant-friendly state. standup landlords usually do just fine in them. i live and invest in one and run my business through a 'customer service' lens. so long as you screen tenants properly and/or have a great PM company, and have access to a great RE attorney, you are fine!

hope this helps, good luck!!

@Carrie Brauninger first off. Love your view on REI for more than cashflow! Cashflow is just the tip of the ice burg. Based on the details you provided, I would comment 2 different options.

Option 1: Traditional investment property with in a 2 hour commute

Not sure how much you have for a downpayment but here are 2 options. 

1. Pueblo rental. Our clients are still finding great investment properties down there that are not able to afford Denver or Colorado Springs.

2. Denver condo. This will not move the needle too much for you but it could be a great first step. You would get hands on property management experience and HOA traditionally covers all major cap ex that could come up. If I did not house hack for my first investment, I would have chosen condo.

Option 2: House hack while still maintaining your privacy

This would be the preferred option in my opinion. I think it is safe to say you are not wanting to share your living space with roommates, right? You have 2 options with this.

1. Buy a single family home that has some form of separate income suite (walkup/ walkout basement, Mother-in-law suite, ADU) and rent that out to off set your living expenses. Move out and turn into a rental at your desired time period (12 month min). That is with I do :)

2. Buy a duplex. Live in one end and rent out the other. This can be difficult in Denver because they come at a premium, typically renovations, and owner occupied financing can get tricky. Read this post I wrote last week covering owner occupied financing in more detail.

Separately, I self-managed a rental property in NE for 5+ years. Would not recommend it. At least for your first investment. 

I can follow up with a few Pueblo and Denver house hacking case studies you will find value in. Best of luck!