All Forum Posts by: James Brewster

@Stephanie P. & @Melvin List

I would happy to look into alternatives. However, I'm not quite sure where to go. What am I missing?

@Account Closed  -- I don't need anything yet; just trying to wrap myself around all the options. I'll PM you shortly, though. 

@Kevin Romines ...duh....hadn't even considered the wholesaling or partnership. I'm still working on the "thinking-outside-of-the-box" part of REI! Thank you for the input.

Good day!

I'm working on putting together a plan/system for moving forward with either a wholesale or BRRRR/fix&flip. With hard money lenders/private lending, it's seeming like I'll need to make interest-only payments in many cases and be able to present documentation that i have the reserves to make interest only payments.

From what I've read so far, I'd need to be able to document 6 months of reserves.

Other than reaching out to lenders to find exact requirements, are there any strategies/thoughts on this?

Thank you!

I'll try to attend, also. Wanting to learn more about REI.

@Julian Diaz

I lived in Colorado Springs up until three years ago. It seems like one of the major issues (people moving in from out-of-state) is starting to affect the Colorado Springs market, but to a lesser degree than Denver.

You do, however, have more and more people working in Denver but commuting from Monument/North Colorado Springs. Even before I moved up here, the homes at the north end of the city were starting to appreciate rapidly, whereas towards South Colorado Springs, Fountain, and Pueblo, there may be more deals to be had. 

All to say, even the Colorado Springs market has become more dynamic, with many of my realtor friends reporting that they can't get inventory fast enough.

I'm speaking about the future REI business. I don't want to have to work forever, and I'd like to give my daughter more freedom in life.

 That's true...I've been a tenant for so long, I know what makes tenants happy, but also what to avoid b/c I've seen some "interesting" neighbors.

I work with a company that services 403(b) plans. So, not really room to work directly with clients there. However, I think I'd like this to be a business that I eventually pass on to my daughter.

 We're thinking of moving soon....I hadn't considered the idea of trying to purchase a duplex or fourplex until now. Will definitely have to consider that as an option.

 Thank you! I'll check everything out. I think the biggest "hurdle" is finding the funds to move forward....so definitely looking forward to learning.