All Forum Posts by: Chelsea Mastin

@Patrick Soukup Agreed. Im looking at Broomfield/Lafayette/Thornton/North Aurora for the next one. Will probably have to wait until next fall/winter to get finances in order though. Any cities in particular you have your eye on?

This may be an obvious one, but make sure the property has a certificate of occupancy! Found that one out the hard way. If you are rehabbing the property and inexperienced make sure you have a plush $ stash to cover unexpected issues. 

I think the best investors are those who can embrace change. Think about about plan B as much as plan A. Keep up-to-date on politics and local news for the areas you invest and read between the lines; could give you a competitive edge. There are many factors at play when it comes to calculating the real estate market. 

Remember as kiyosaki says: Free investment advice could cost you a fortune. Take that as you will. ;) Good luck!  

@Drew Solidum @Shawn Ward @Julie Hill Woohoo! Thanks guys!

@Bill Quigley Congrats! I would love to see pics!! I made for an awful contractor. Will probably hire out on the next project HA! 

@David Acosta and @Scott Scheel thank you kindly! Yes, haha a duel, hard-knock leaning experience in both rehab and new construction. The property was also lacking a certificate of occupancy so had to some homework on that part as well.

I'll post some pics of B when it's finished. Take care!

Finally got around to making some before and after photos of my first deal! This is unit A! I did majority of the work myself with help from friend and family.

Unit B is new sub level construction. Property started out as a single family and we are finishing out the basement as a second unit. Thank you BP for all the help and support and a special thanks to @Anson Young for taking the time out his busy schedule to offer advice.

You bet! Be wary though as there is a lot or red tape when doing SFH to duplex conversion. We were lucky that the place we purchased was technically an unfinished duplex. it slipped through the radar when listed as the seller did not advertise it as such. There are many odd code quirks a duplex needs (in the city where I live) such as 30% of exterior needs to be brick or stone, at least 4 sq ft of windows in garage, needs a 3 car garage with ally access etc. Ha There is a great pod cast that gave me the idea:

https://www.youtube.com/watch?v=qHpc80xVNFk

 Dave Meyer in podcast rents out "accessory dwellings" which sounds much easier then legit duplex conversion. I wish you the best! You got this girl! Good luck to you!!!! <3

@Cassidy Farnsworth Hi Cassidy! Diving in can be very scary. I have been daydreaming about investing in real estate for the last 10 years and finally took the plunge last December. Still working on the property, ha. You have to be smart about finding the right property, but so much of the learning (unfortunately) will be done in real life experiences- for me anyway. I bought a single family with an unfinished basement and am in process of transforming it into a duplex. I did most of the rehab myself on the top level and learned the process for new construction with a contractor for the basement. The permits were submitted 4 months ago we are still waiting for them to go through. Biggest battle I had to face was the property not having a certificate of occupancy. The top was finally listed for rent last week and the permits are almost through for basement. Woohooo!! Don't be afraid. You will learn as you go. Don't compare yourself to others and find what works for you. Save up more money than you think you will need and don't be surprised if things take twice as long. You will stumble and fall along the way, but you will learn. Good luck to you!!