All Forum Posts by: Eric DeNardo

@Austin Moraatlla, I suggest starting with househacking where you can get preferential financing terms, like downpayment assistance and lower downpayment rate. You can then rent out part of your house and they can help pay your mortgage and then you can save up for another house or other investments. 

@AdriAnn Rode, I'd love to connect! Welcome to BP!

@Daniel Ben-Hur, It's a great strategy! If you can find the right home that rents well when you move out, its a great strategy. I would think about maybe house hacking where you rent out a part of your home who will then pay part of your mortgage, this will help you save much more money and help you achieve your goal. 

Hey @Colin Schild,

Welcome to BiggerPockets! You have come to the right place for real estate investors. You can literally find answers to all of your questions within the confines of this site. These resources helped me tremendously in getting started:

1. Go into the forums, ask questions, and create your own posts!

2. Start using the Calculators! They are a great start for analyzing deals and getting familiar with the numbers. (I have a more complicated one, if interested)

3. Listen to the podcasts!

4. Attend a Meetup in Your Area or meet someone local and grab a coffee or a beer.

5. Message people and request to be friends - this is a great way to start building relationships

Cheers!

 Can you do both? 

@Matthew Mclean

I agree with what others have said that if you like the area and believe there is a long-term growth, then it can be worthwhile. Especially if you believe you can refinance for a lower rate that may bring you cash flow. 

@Kendra Gately

Welcome to BiggerPockets! You have come to the right place for real estate investors. You can literally find answers to all of your questions within the confines of this site. These resources helped me tremendously in getting started:

1. Go into the forums, ask questions, and create your own posts!

2. Start using the Calculators! They are a great start for analyzing deals and getting familiar with the numbers. (I have a more complicated one, if interested)

3. Listen to the podcasts!

4. Attend a Meetup in Your Area or meet someone local and grab a coffee or a beer.

5. Message people and request to be friends - this is a great way to start building relationships

Cheers!

@David Pereira,

It's a good question. It depends on your goals. Do you feel more comfortable with that stability? or would you like to grow faster and buy multiple rentals with your cash? I suggest seeing how much you need to put down to cash flow, you may not need to put all your cash in to cash flow. 

@Scott Orkus, 

I suggest looking into general demographic data. What city/region is experiencing population growth? Is there a strong and growing economy? What's the supply of housing in the area? Are large employers moving into the area? 

I'd also consider where you live. You know the area you live in the best and will know the sub-areas of where to invest and where not to. 

@Jacob Munson, 

I have a STR in the suburbs close to Thornton and it works great! It doesn't cash flow, but it pays for most of my living costs. Depending on your goals, there are certain parts of Denver Metro with no STR rules. However, there is also a potential new law that would 4X the taxes for a STR. MTRs are great, but also consider rent-by-the-room when you move out.