All Forum Posts by: Dan Guenther

@Crystal Lo - You're in a great place to be with both options. For me, when I got started I had just moved back from New Zealand (during prime COVID peak) and had open options as to where I could plant the real estate seeds. We had lived in Oregon prior to the NZ trip and always wanted to live in a new nature based community. This took us to Colorado on a trip and we fell in love. Moral of the story, investing in our own (new backyard) was the most realistic option for our first investment. We used a 3% down conventional loan and bought a 5 bed 2 bathroom single family home and started our house hacking journey. Our total out of pocket on this deal was about $20K after closing costs and down payment. 

Will you be looking to purchase as a primary or strictly investment? This is going to dictate your first purchase regardless of if you choose Austin or Denver. 

Let me know if you want to talk more about life in the Denver area and the investment opportunities that we are making work here!

@Logan McGill - Just saw this post now. Reach out, I'd like to connect and see how everything has progressed for you since you first posted this. If you're still in the wholesaling game, I've got some people you need to meet. 

Whether you're a first-time investor, curious about real estate and building wealth, a seasoned investor, or just looking to meet some really great people, come join us in Longmont! All are welcome at this monthly meet up, where like-minded people will get together and enjoy good conversation, drinks, and food. This is a great opportunity to share knowledge and network with investors in Boulder County and the surrounding area.

@Hector Serna - Sorry to hear about the struggles so far. 

Take those first 3 deals as learning lessons and use that to grow. Going into the next deal you should have a lot better idea of what to look for and red flags to avoid. Don't give up! 

@Dylan S. - Congrats on the early start in real estate! I'd recommend that you continue to talk to lenders and grow your network of real estate professional. A common misconception is that you need 20-25% down for non-owner occupied investment loan products. There are lenders out there that are offering 10% down investment loans with favorable terms. 

I'd also recommended taking some time to write down your goals long and short term. House hacking and operating an Airbnb are two different beasts. If you are currently renting then look into the multiple ways house hacking could benefit (loan paydown, tax benefits, depreciation, appreciation, savings on rent etc.). With AirBnB on the other hand, you are operating a hospitality business which comes with a whole different set of challenges and operation requirements. If you do choose to go the AirBnB route make sure you are buying a property that has multiple exit strategies (renting by the room, medium term furnished, group home etc.) and not solely dependent on AirBnB. 

Good luck on your journey! 

Hey @Maureen M. - welcome to the community! 

I'm not a wholesaler but I do have connections with wholesalers and other off market opportunities in the Greater Denver Metro. Reach out and we can talk more. 

@Kevin S Porter Sr That's odd, DM me and we can figure out what happened. 

@Kaylyn Schroka - welcome to the BP community and Colorado! 

I'd be happy to share my experiences and opinions in the long term rental space and wholesaling. I'm in the Denver market and focus on creative finance, wholesale deals, and all things investing. 

I'll send you a DM and we can chat more! :)

@Baron Wilson Can you clarify your question? Are you asking if I made money from finding good tenants for my house hack, then yes absolutely. I've also saved a lot of money by not dealing with the headaches of unqualified tenants. 

@Baron Wilson - My go-to is Facebook Marketplace and "rooms for rent" specific groups on FB. Here in the Denver area, there are a lot of groups specific to renting rooms. Give that a try and make sure to stick to a strict screening process (background/credit/eviction check, past rental references, proof of employment or income verification etc.)