All Forum Posts by: Craig Barragry

My wife and I bought an investment property in 2021 that currently has an All In One (AIO) loan that we've used like a HELOC to buy other investment properties. The AIO is our only debt on the property and is in our personal name (not an LLC) as a requirement of the loan.

We are looking to do an extensive addition/remodel on our personal home, and given current rates, we are considering using the AIO loan to help pay for it. 

Are there any tax implications or other considerations if we use this loan for our personal home project? Appreciate any insights!

Frustrating for sure! What "outs" do you have left in the contract? I have been on the other side of this as a seller (in CO) where the buyer wanted out for a personal reason (unrelated to the house itself) and just used the "financing" deadline to terminate despite being pre-qualified. My agent said there wasn't anything we could do to keep the earnest money.

As far as I know in CO, the law is tilted heavily towards favoring buyers. However, if you don't have any outs left, they can either force you to give up the earnest money or close. This doesn't mean you don't have an argument that the property was misrepresented in the MLS, but that's really outside of the contract.

Quote from @Denver McClure:

Hey Craig, I absolutely know that pain! @Stanley J Black would be a great resource to speak with!

Thanks, Denver! I've reached out to Stanley.

Hey BP Community! Been investing for about two years now and have been listening to the BP podcasts for about a year. My wife and I have 3 multi-units (11 units total) in the CO Springs area. We jumped in after waiting on the sidelines too long and now are learning on the fly during this recession... correction... market cycle. Excited to continue to build our portfolio and soak up as much wisdom as possible.

The COS market has several 100+ unit projects coming online currently or in the near future. As someone who owns smaller multi-family in the area, I'm of course concerned about rent decreases and vacancy, but believe that the market will balance out in the medium-term and
remain bullish on the long-term prospects.

That said, I was thinking about what people think about large vs. small multi-unit renters. It seems they appeal to different groups: large properties tend to have more on-site amenities and be more modern, while smaller tend to be more unique and be more centrally located. While price is price, I wonder if the demand is somewhat different between the groups simply because those attracted to larger properties would never rent smaller or vice versa?

Stop me if you heard this before: my insurance rates on one of properties has jumped up ~40% YoY! Looking for recommendations on a good insurance broker in CO, ideally in the Colorado Springs/Castle Rock markets. Thank you!