All Forum Posts by: Hossam Elaskalani

Hello everyone!

I recently moved to Colorado Springs with the intention of househacking, however to do this at the scale I wish to do it at, I need to have more cash coming in.

I know Wholesaling is one way to do this with minimal overhead. I was hoping that a wholesaler in CO would be willing to dedicate a phone call or a free lunch on me to share their experience specific to Colorado and shed some light on how to get started?

I understand basics like list generating, skip tracing, assignability, etc.

I am more so confused on the legal aspect of it, pricing fees, finding cash buyers, and how to do this while removing as much liability as possible from myself.

@Vince Arena

From your reply + others, I'm thinking I might as well do the house hack option. The priorities you listed are essentially the same as mine especially since I've never lived in CO. I also really like that STR option I didn't think of that. I appreciate it!

@Zee Abbas

Why do you say buy and hold real estate long term is not as worthwhile as it used to be?

@Miller McSwain thank you for referencing that podcast and good to hear you’re on a similar path! I’ll be sure to check the podcast out

Hi all,

I’ll keep this to the point as I’m sure there’s millions of posts like this.

My situation: Soon to be college grad (May 22), chemical engineering job making 75K before taxes. 0 debt, 720+ credit score, and about 20K in reserves.

I’ll be working in Colorado Springs, CO starting this summer and want to get some assets under my belt and there’s 2 options I see.

Option 1: buy a small SFH for myself, live in it, then after a few years buy a second small SFH and rent out the other.

Option 2: Try a BRRR but remain renting where ever I end up renting.

Option 3: repeat option 1 but with condos instead.

I have a good tolerance for risk but I want to keep things as hands off as possible long term.

Background:

I am familiar with analyzing deals, finding a good agent, etc., I was looking for deals (on market condos) for quite some time in MA while in college. But now that I know I’ll be moving to CO I’ve paused that and intend to use my funds out there.

I am open to alternative options as well.

Thank you for your time!

@Caroline Gerardo

These are really good contingencies I can put into my offer, thank you for the suggestions. As of right now the disclosure says “TAW, willing to stay”

Hi,

I’m about to write an offer on a condo but am torn between requesting it to be vacant or to keep the tenants there. They are paying a market value rent.

I’d like some opinions.

Thanks!

@Jason Regan What facebook group are you currently on that helped you find those two deals? I'd be interested in joining.

Thanks again

@Jason Regan

Congratulations! I'm curious if you found this deal on or off market? Current prices make it hard to BRRR in this state to my understanding.

Thanks

@Jason Regan

Can I ask where and what type of property you bought? When did you buy it (recently during this buyers market?)