All Forum Posts by: Dan Torluemke

Thanks for posting. This is great information! I have quite a bit of equity in a couple of properties and have been debating my next steps.  I would love to get a copy of your letter as well. I will message you if that’s okay. Keep up the great work and I really appreciate the time you are taking to answer all the questions being asked. 

I would say your insurance will be higher than $50/month, probably closer to $80-85.  And are you sure you can get 4.75% with only 20% down and no points?

Looks like a nice pretty nice home, like others I would be curious why it seems to be priced under market.

 Thanks Matt, sent you a PM.

 Thanks Matt, we are on the 3300 block of Elizabeth.  We will look into Window World for a quote if we decide to sell, appreciate all the insight.

Thanks Matt, our house is very similar 1320 sq ft, 3/2. Wow...427K??  We figure we can sell our place as is for about $380-385k or do $10-15k in upgrades (some of the windows need replaced, plus remodel the bathrooms and add granite to kitchen) and get in the $400-410k range.

Good advice on testing the waters.

Hi Dan, thanks for the reply. The 650-700 includes maintenance but not capex. KC would be after all expenses.  

We plan to purchase in KC regardless of or decision to sell or not, selling would certainly jumpstart our portfolio and give us a nice cushion. Our other option would be a HELOC on our current property to purchase 2-3 properties and then use our income from 8-5 jobs to purchase 1 or possibly 2 additional properties (20% down) in KC each year.

I am bumping this thread from over a year ago. 

We ended up keeping the home and currently rent it out for about $2,050 month (using a PM we net about $650-700/mth on average...not counting HELOC payment). We have decided on turnkey properties in KC for our next home purchases, but I'm still unsure if selling this property is the correct route to fund our KC homes. We owe about $160k on this property and another $50k in a HELOC that we used to purchase our new primary residence. We did a 20-year refi on our primaryy 2 months ago and at 85% LTV we could obtain another $75k on a HELOC.

If we sell we would net approximately $150k after paying all costs (it was our primary residence from 2010-2015) and use about $100k to purchase 5 or so homes in KC in the 12 monhts with anticipated cashflows of $200-300/mth per property.

I don't see a ton of upward appreciation left in the Denver property but we get decent cash flow with a 3.5%, 30-year.  

Should we sell or look into obtaining HELOC on our primary to fund our purchases? I'm totally torn on the better route. Our primary objective is cash flow to fund early retirement.

Thanks for any advice.

Thanks to all who have replied, lots of good information to use later this month on my exploratory trip.

Thanks Miguel, that is a great starting point.  Really appreciate it.

Hi KC locals!  I am looking to sell a rental property here in Denver and move the cash into some rentals in the KC area.  Can anyone provide some decent areas where one can find greater than 1x rentals that are in the 75-125k range? I've heard Waldo, Liberty, close to KU Med as possibilities.  I will be visiting later this month and would like to narrow down my search some.  I'm not afraid to look into a gentrifying area if some appreciation potential exists but mostly interested in cash flow at this point.  Thx in advance.