All Forum Posts by: Craig Curelop

WOW! Congratulations @Heather Reed! Sounds like a good one :) 

@Jocelyn Doumani - I would recommend doing cash for keys. $500 and full security deposit returned if they leave in the next week. I suspect you can buy a lot of drugs for $500 :). 

@Benjamin Sussman - How much does it cost to break the lease? I will bet you almost anything... it is worth paying to break the lease and start house hacking than anything else. Just make sure you work the lease break fees into the numbers. 

@Alexander Mears - Congratulations on the move to Denver and even BIGGER congratulations on the decision to invest in real estate! 

First off, House Hacking will be the best strategy here in Denver. BRRRRs are really tough to do in any big city. You are talking larger purchase prices, larger rehabs, and higher competition. I wouldn't feel comfortably BRRRRing here with at least $150k in liquid cash. 

As for House Hacking, there are TONS of strategies that work. We've helped people rent by the room, convert basements into Mother-In-Law suites to have your own private living space, as well as the traditional 2-4 unit. Obviously, like many others above have mentioned, the strategy will differ based on the capital you're willing to spend and the amount of privacy you need. 

As for areas, I find that house hacking works best in Arvada, Westminster, Lakewood, Thornton, Englewood, Littleton, etc. It also CAN work in Aurora, I have just heard more people complain about finding quality tenants there... 

Happy to chat more! Feel free to shoot me a DM.

Thanks for the shout out @Linda Weygant! 

@John Gallagher - House hacking is the way to go. You can build some serious wealth relatively quickly. House hack every year for 5-7 years and you will likely be very close to a seven-figure net worth by the end of that time frame. 

You are almost in the perfect position. 21 years old, with a masters degree that can work remotely. I presume your job is fairly high paying which will allow you to continue to save and invest and maybe even expedite that timeline of 5-7 years. 

I would be happy to chat. Shoot me a direct message here on BiggerPockets! 

@Tom S. - I mostly take single family homes and turn basements into the additional dwelling units. People always assume ADUs need to be detached... but you can just as easily rent out a basement as you can a separate unit. 

@Dan Barr - unfinished basements are semi-rare to come by. Many times all it takes is ripping down a bit of dry wall and adding some plumbing/electrical. Depending on the way the house is set up and the connections you have it can be fairly inexpensive to do so. 

@Dan Barr - All of these strategies above work great. I have been scaling my portfolio through purchasing single family homes and converting basements into mother in law suites and renting out both units. 

 I like this because the entry price is cheaper than multi-family, there are less rules than with condos, and you can still cash flow $800+ per month pretty easily. 

@Bryen Blankenship - Denver and Austin are both great cities! You can't go wrong, especially if you build the right team around you. However, I would second @Jordan Moorhead's advice in sticking to your backyard if you can. 

@Nicole Heasley Beitenman - Roomster, Roomies, Apartments.com, Rent.com, FB Marketplace, FB Groups are some of the best that I have experienced. 

Thanks for the recommendations @Russell Brazil and @Dan Sheeks! 

@Gytenis B. - I have helped quite a few investors & house hackers in the northern suburbs of Denver as well as up in Loveland, Greeley, and Longmont. Also have a few properties that I own myself spread throughout Thornton, Westminster, and Arvada. So I would say I know these areas pretty darn well. 

@Dan Mackin and @Chris Lopez are also great. You won't go wrong with either of us. If I were you, I would interview all three of us and go with whoever you feel most comfortable with :).