All Forum Posts by: Eric DeNardo

@Michael Lax

I agree with Dan - consider converting your current rental in a higher cash flowing asset and pull out equity with a HELOC to fund your next purchase - I recommend your wife holding onto her current job for now - so you both have the means to fund your business. I highly recommend speaking to a lender to see what a HELOC could do for you.

Also - you could think about doing arbitrage where you lease a home and STR the property so you don't need as much capital upfront. Once you build more cash - you can make your next purchase.

To get a good rate today - consider assuming an existing VA loan - I'd be happy to talk with you more about the possibilities!

@Benjamin Boyle,

Arvada and Westminster are desirable areas to Airbnb. And there are areas near Tennyson Street in unincorporated Adams county that are desirable. I would still consider an STR in those areas.

For RBTR/Co-living - I was suggesting that as your exit strategy to ensure it's paying off your mortgage or cash flowing. 

@Benjamin Boyle,

Welcome to BP! You're on the right track to get your first property. I house hack myself in the Denver area, airbnb part of my property, and I'm a Realtor who helps other people do the same. 

You are correct that in Denver the only way is with an ADU, or if you travel often you can STR it when you are away. There are places outside of Denver (unincorporated Adams County, Arvada, Westminster, parts of Wheat Ridge, and Centennial) that you can STR properties without the property being owner-occupied. Most places you need a permit.

With the right systems in place, you can make your STR more passive.. I spend max 2 hours per week on mine (mostly its answering questions)

Your concern of cash flowing with a multi-family is on point - it's not easy with an LTR. I recommend finding a larger home that you can set up a co-living strategy if you want cash flow. It's one of the best strategies to make the numbers work. I'd be happy to talk with you more about it.

@Tanner McCalister, Welcome to BP! If you're interested in more opportunities around here in Denver, let me know! There are many investors here that would be interested in working with you. 

@Rene Ordaz - Thank you for your service! You are in the right place to learn about real estate! Soak up all the resources that biggerpockets have to offer and find some meetups to speak to investors. 

@Aaron Swilley - Makes sense about working in Denver proper. Would love to meet and chat more!

@Mathew Fuller - House hacking is a great way to get started and MTR is a good strategy to make the numbers work if you're in a good area for it. 

@Mathew Fuller, What type of investment are you looking to do? Flip? LTR? or something else? Investments can "work" in Denver metro, but it requires creativity. Would love to chat with you more about your goals and interests, as well as what the investors we're working with are doing to make the numbers work. 

Thanks @John Krauklis!

@Justin King, Welcome to BP! We're holding an event next week on Wednesday. WOuld love to have you attend!