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All Forum Posts by: Isaac Pyle

Isaac Pyle has started 17 posts and replied 119 times.

Post: 1% Rule in Boulder / Longmont, CO

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

@Steve K. I have been looking for a post like this. Thank you so much, this is some of the best advice I could ask for. I have a lot to consider, and so do my parents. I appreciate the step by step plan to get started, because the whole process is daunting at first. This has simplified it as much as it can be simplified. I am ready to take on this kind of responsibility, and it's great to hear that with the right plan and a lot of hard work, it could pay off. I will keep doing more research before pulling any triggers and will have lots of conversations before anything comes close to starting, but this is incredibly valuable information. Thank you.

Post: 1% Rule in Boulder / Longmont, CO

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

@Steve K. that makes sense, you're "adding value". And I suppose I was not considering how appreciation would be different than normal in Boulder, where it is constantly appreciating faster than many other cities. But regardless, if I am looking to house hack and cut out rent from my bills, then I don't need to worry about cash flow vs. appreciation near as much! That is an excellent point. And that is good to hear that you think it is doable, I have had some doubts. Seems like a lot of money to be playing with that isn't mine to lose. But I definitely think I can do everything in order to make it successful. Thank you for taking so much time to help! Much appreciated!

Post: 1% Rule in Boulder / Longmont, CO

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

@Steve K. First, let me just say thank you, this is a wealth of information that answers a lot of questions I have been having!

A few things I am wondering:

1. When you mention "value-ad triplex" or duplex, what does "value-ad" mean? (Might be a super newbie question)

2. I have heard / read that when a recession starts, it is better to have cash flow instead of appreciation, but that sounds backwards to what you write about here. What is your take on that? Is Boulder County just different and not affected the same way?

3. My only major concern with going forward into real estate is that I have no significant source of steady income. Because I am in school throughout the year, I work a lot over the summer waiting tables and doing odd jobs, but that does not qualify me for any loans remotely close to mortgage values in Boulder County, and because of this, the only way I could get a place is if:

A) My parents helped with the down payment, and

B) They also co-signed the mortgage and we used their income to be approved for the loan.

What are your thoughts on this? Thank you for taking so much time to reply with so much information!

Post: 1% Rule in Boulder / Longmont, CO

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

@Trevor Jacobs well I am primarily just looking for a duplex cheaper / free living while in college, and then moving out and renting both sides for a potential profit. Appreciation has been increasingly hot over the last majority of a decade, although it has been slowing down a bit. I am not going to look in boulder however, just used it as an example. I am looking in places like Longmont, Thornton, Bloomfield, etc.

Post: 1% Rule in Boulder / Longmont, CO

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

@Mindy Jensen Yikes! Seems pretty steep. Because of this, do you recommend looking elsewhere? Or do you still consider it worthwhile to look for rentals that only return .5%?

Post: Borrowing money from parents to get started?

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

@Josh Garner Cool, I will look into conventional mortgage loans more, thanks for the advice!

Post: 1% Rule in Boulder / Longmont, CO

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

Hello BP Community!

I am just curious, I have been looking at listings in Boulder and Longmont (really anywhere in the front range) and I am curious if anyone is getting deals that meet the 1% Rule. It seems like prices are inflated so much more than what you can get for rent, just want to know what you guys think. Obviously if you comb through everything for long enough, you can find something that will work or make something work, but I wanted to see if anyone has done recent deals that meet the 1% rule.

Post: Borrowing money from parents to get started?

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

@Josh Garner Interesting.. a few questions:

1. Do you know how this works out for them? If they cannot afford the 20% down payment, is it because they do not have enough income?

2. You talk about Conventional loans here.. I was likely looking at an FHA Loan because it would be my primary residence, is there any benefit to looking at conventional instead?

Thanks for the input!

Post: Concern about the Inverted Yield Curve?

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

@Dave G. That makes sense. I feel like there could be some instability in the next 1-5 years, but if I plan on investing long term (which I do) it might not matter. The market that I am looking at is also incredibly hot and appreciating in value right now. I will definitely look at that podcast later today, thanks for the tip!

Post: Borrowing money from parents to get started?

Isaac PylePosted
  • New to Real Estate
  • Louisville, KY
  • Posts 121
  • Votes 82

@Henry Lazerow that makes sense! Yes, I am only considering buy and holds, not interested in flipping. Buy and hold seems much less risky. I think the thing that concerns most people is the fact that because I will be in college for the next few years, I don’t have an income other than in the summer. The only way I could do any of this while in college is if my parents co-signed on the loan and I used their credit score to get the loan. What is your take on that?