All Forum Posts by: Jena Vail

Nice summary of tech & it's power! Thanks

STR is a great strategy. Use AirDNA to help determine a solid geographical area to maximize ROI & vacation desirability. Also make sure you research any local government / municipal STR restrictions. Consider using an experienced STR property management company that can help make your property a top pick for bookings. Check out "Short Term Rental Secrets" for learning & coaching - great resource.

Good news, thanks for sharing! 

Is your up-and-coming college student considering Greeley, UNC for college? Home prices / room rental rates ratios look good for a college town when applying the FHA Kiddie Condo Loan product with a house-hack scenario. There are more than a few dozen detached single family homes avail w/ 3+ beds & 2+ baths priced from mid $300k to mid $500k and rooms renting @ $500 + / month. Other towns in Colorado that might work… Ft. Collins, Colorado Springs, La Junta, Durango, Grand Junction, Gunnison, Alamosa, Trinidad. Is Boulder too expensive?

Your college student may have to pay a higher-than-market rate, but what equity opportunities are possible after 4 years PLUS turning it into a full rental after they move on?

Would love to hear any success stories of college students / parents who used the FHA Kiddie Condo Loan

You are in a fantastic position!  You have a steady income from w2 and cash. There is always a deal somewhere and if you have professionals helping you (mortgage broker, realtor, cpa, etc) lean on their knowledge. You might consider first starting with a good mortgage broker to see where you stand and what you qualify for.  That will probably steer you in a direction 🙂

Chris, i like your attitude! Problem solving leads to opportunities. 

Sounds like a great event! Was there any discussion about how to identify ideal areas / markets for this investing strategy? 

Investment Info:

Other buy & hold investment.

Purchase price: $405,000
Cash invested: $180,000

This was sold as a 160 acre ranch, BUT it did have an OLD ranch house that was in too poor of shape to live in. We purchased the ranch to graze our cattle, then fixed up the home for a renter.

What made you interested in investing in this type of deal?

We wanted something that we would be able to subdivide and sell.

How did you find this deal and how did you negotiate it?

We looked for ranches that had been on the market for a long period of time.

How did you finance this deal?

Land loan through Northpointe bank

How did you add value to the deal?

Knowing Colorado subdivision rules, well permitting, and some general construction knowledge helped make our deal swing.

What was the outcome?

A property that has doubled in value because we fixed up the home and subdivided it.

Lessons learned? Challenges?

Have a good electrician go through any older home.

Investment Info:

Retail commercial investment investment.

Purchase price: $102,000
Cash invested: $102,000

Purchased a property to build a retail nursery.

How did you find this deal and how did you negotiate it?

We had been looking through Realtor.com for land for months when it popped up on a Sunday morning. By Sunday afternoon we were under contract. Our agent helped us write a very strong offer with an escalation clause.

How did you finance this deal?

Cash from my 401-k

How did you add value to the deal?

Managed property purchase.
Negotiated water rights to be transferred in the sale.
Property development- applying for well permits with the State of Colorado, working with architects, water attorneys, civil engineers, consultants, Douglas County planning and zoning, and Cherry Creek Watershed Authority.

What was the outcome?

An awesome property for our tree nursery!

Lessons learned? Challenges?

Know how an escalations clause works.
Be patient when building- nothing is ever on time

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

CJ Kirst

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $550,000
Cash invested: $110,000

Charming 2 Bedroom, 1 Bath ranch home is available for rent in Franktown. Close to Castlewood Canyon and Cherry Creek Trail. Plenty of shopping in Castle Rock, Parker and Elizabeth, which are all only minutes away. The home has wood floors, tile countertops, claw foot bathtub and a yard with an old-fashioned porch swing. Refrigerator, washer and dryer are included.

What made you interested in investing in this type of deal?

The property is both commercial and residential, so the land has commercial value and the home can be rented out

How did you find this deal and how did you negotiate it?

Called the current owner as it was not for sale.

How did you finance this deal?

Investment loan through a traditional bank

How did you add value to the deal?

Our knowledge of the zoning, water rights, easements, etc of land in the area was invaluable.

What was the outcome?

A cute rental in great shape.

Lessons learned? Challenges?

Always work with local people who know the current zoning restrictions!