All Forum Posts by: Erik Martin

So would putting a house under contract and then having a general contractor come in after that to estimate the reno before you close a frowned upon practice? Then you normally run comps for similar houses in the area to determine what it would be worth full renovated? 

I agree about leverage totally!! Where did you guys find your contractors to fix up the places, and how do you normally estimate the budget it would take to rehab a place (this seems like the hard part to me)? 

This is a great strategy! Have you found only smaller banks have 1 appraisal company, or do larger banks have only one appraisal company as well? Do you ever feel over leveraged with this strategy, I really want to start, but I am worried and I am going to over leverage myself! 

Thanks, 

Erik

I am looking for a conventional 20% down loan with the lowest rates. Are those generally found at the big banks, as long as I qualify? 

Thanks so much guys, 

Erik

Hey guys, 

Do any of my fellow Colorado real estate investors have good recommendations on Colorado Mortgage Brokers? Want lowest rates, so open to Portfolio Lender or Big Bank. What have you guys found? 

Thanks so much, 

Erik

Hey guys, 

I live close by CU Anchutz Medical Campus in Aurora, CO. It is a poorer area with gentrification starting with the catalyst being the multi-million dollar health center and medical school. Does anyone have experience with renting to medical students? How do you market to get students into your property? Are you able to charge a higher rent per room since it is student housing? 

Looking forward to hearing back from you guys! 

Thanks so much, 

Erik 

Thanks guys!! 

That is interesting info! It's interesting looking into those markets because I know they are not nearly as popular as Denver. I was worry about there not being enough traffic to support an AirBnB at a place like Fort Collins or Colorado Springs. Have you seen good success with these markets? Also, when it comes to furnishing a place like that, I live really far away from both Colorado Springs and Fort Collins, do you know of any companies you can work with that specialize in furnishing AirBnB type properties? 

Thanks, 

Erik

Hey BP, 

I have been getting excited about the prospect of trying to find an area that doesn't require primary residency for an AirBnB property. I live in Colorado and our two big cities, Denver and Boulder, both require primary residency for short term rentals. Is there any way that you can quickly check the primary resident restriction for an area? Also how often are these laws changing these days?

Thanks guys, 
Erik

Thanks for the input Bryan!! Any one else who lives in this area know the multi-family market in Cheyenne? 

Hey guys, 

I am currently zoning in on Cheyenne, Wyoming to invest in a multi-family (4 to 5 unit) structure. Can anyone from this area tell me a bit more about the current multi family market? 

Thanks so much, 

Erik