All Forum Posts by: Jameson Waltz

 The condo is in C-springs, itll  be off my hands june 1st. I have moved 3 times in basically 8 years. Spent 5 years at the first home in Littleton, made money off that, lived in Aurora for one year and hated it, made money off that because the market is dumb, and now in Highlands Ranch, love where I live. I don't want to be anywhere near Denver unfortunately haha. I just can play in this new market thats turning into California. I only profited 135$ a month off the first investment. So Looking to be able to buy my next place with little to no mortgage. I am looking into things like traveling nurse residency type things, air bnb type options or even long term family rentals. i would love to have a duplex personally, but someone told me I have to live in one half of the duplex for me to do that, and I can't rent out both livable spaces.

 Out here in CO I basically had everything but a contractor. Had a Realtor, Manager, and Lender. The condo was so new though, I didn't have to worry bout repairs... at all. But having those four in another state is a great group. Thank you. I think that takes away my other concern, because if I have those four, someone can handle repairs and concerns while I live here in CO and I can pay for it living here.

I have definitely thought about DSCR Loans. I met with someone last year, and only thing holding me back was my credit score at the time, so trying to build that back up! Thank you for the reminder of that option.

-Jameson

Hello,

I am a little lost. I need to know my next step. I Bought a Condo two years ago, but because of my DTI, I couldn't buy anything else because of the two mortgages I have. I spoke with my friend who is a realtor, and another person who is a mortgage lender that deals more in investments, and his other team members, and it was pretty much agreed across the board, I need to sell the condo, because I only profit 135$/mo. That Condo will be off my hands June 1st. I should be roughly profiting I believe 90 to 100k. I live in Colorado and I am completely priced out here. I need to do something where I can start making some actual profit, and also have a lower hit on my DTI. I don't know where I should go, but I was thinking Ohio because I have been going there my whole life and I know the people, and I have family out there currently. Can anyone offer some next steps. I want to make sure my next move is the right one.

-Jameson Waltz

Feeling a bit lost. I bought my first rental property (with a mortgage) almost 2 years ago. I profit about 135/mo. So not much. I don't know how to get property number 2. My market is now officially too expenisve to be apart of. I have 180k to pay off the rental. so essentially 28 years. is there a strategy to get number 2? With the rental and my  home, and I would have to be making much much more money to get qualified for another loan, on the other hand, I could sell my rental and use the money to purchase in full somewhere more affordable. Advice is much needed.

I was given money at 21, and basically my entire life I was told to be afraid of it. My family's background was in businesses, and then the experience disappeared generation after generation. So I am completely on my own. I started house research investing when I was 28 because i was tired of working for other people, and Sold my first home that I owned and made a good chunk of money, and then used that to buy a rental condo. I didn't buy it in full because I was clueless about things such as; the debt to income ratio changes immensely, and when applying for a new mortgage for another property, they only count 75% of the income. Right now I have my house and the rental, and the income for the rental after the management, and mortgage and HOA fees I make about 135/mo, so clearly thats nothing. I am completely stuck on how to get property number 2 or how to make better money of rentals. I can't play in my current state's market as house prices have borderline reached California levels. I don't know what to do or who to talk to about getting to step number 2.