All Forum Posts by: Elijah Williams

Thanks for all of the great replies!  I really appreciate them.  I'm definitely hoping this allows me to get my feet wet as a landlord.

@Ben Rhodin There could be an opportunity to expand the existing space and add a third bedroom, but I've been hesitant about recouping my money off of that.  It would require a new foundation to be added off the back of the house.  That said, we are currently in the process of making some inexpensive improvements (painting kitchen cabinets, resurfacing the Formica countertops, and installing new, inexpensive lighting fixtures.  At the moment, this area isn't zoned for ADUs.

@James Carlson Thanks for the advice.  The furnished apartment angle could be interesting. I haven't considered it, but you've got me intrigued and wanting to dig into that.  I do agree that there's more appreciation potential in the near-term.  

@Candice De - Good call on the capital gains!  BTW, U-Hills is great!

Hi all,

This is my first post and I've really enjoyed reading up on all of the great advice on this site.  I've wanted to get into real estate investing for some time, and I'm finally ready to take the leap.

We bought a small, 2-bedroom SFH in Denver (Sunnyside for those that know) two years ago with the future aspiration of it making a decent rental in an area that should appreciate well over time. That said, I think it will be cash flow neutral as a rental today that we'd hold for the potential appreciation in the area (+principal).

Given a growing family, we're currently looking at purchasing a home in the surrounding area.  This home will be our family home, so we're not planning on making it a rental.

We can afford two mortgages so the lack of cash flow isn't an issue from a cash flow perspective but I'm looking to understand it from an investment perspective.  My longer-term goal will be to start acquiring properties as rentals, possibly in the midwest (an area I know well).  I'd like to start with the goal of one a year and see where that goes.  I'm viewing this first rental as a chance to learn the ropes.  What do I need to know before pulling the trigger?  I've spent time running the numbers and reading online, but I'd like to hear from those with experience.  Thanks so much for the great community and content that I've found here!