All Forum Posts by: Jeremy Gaal

Tyler,

Check out this thread for the House Hacker Mafia: https://www.biggerpockets.com/...

Great group that os really working on growing their real estate knowledge, connections, and most importantly their portfolios.

Andrew, 

Not sure where you are in the Springs but rents are appreciating pretty quickly. Tracking the apartment market it went up north of 10% over the last year and I hear increases up to 30% over the next few years. While I don't have a crystal ball to know this for certain, I know rents are certainly going up in the near term. All of this to say if you're out of pocket $100/month for a year you'll likely cashflow the next. 

For context I have 3 rentals in the Springs and am seeing both strong appreciation and strong rent growth.

Greg,

You've picked some awesome areas to look at. What I would say is as people have come to the area, the commute from west to east is going to pickup and take longer. Are you prior military? If so your VA loan would likely really help you dig into your first place. OCC is a great place to get started but just remember that is going to mean smaller houses/lots potentially. I'm sure others will chime in, who can dig a little deeper into the market MLS wise but look forward to seeing where you end up

@Larisa Dalekorey awesome. I started my investment journey be refinancing a VA loan to conventional then bought another house VA. You have some great options in this thread and let us know where you end up choice wise!

@Larisa Dalekorey you're finding multi-family in Colorado Springs? In terms of the question you pose, for me it would come down to finding a good PM because investing out of state has its own set of fun associated with it. I look at always trying to keep what I have as opposed to selling, but thats me. Gotta love the VA loan though, its a huge part of the reason I'm doing as well as I am investment wise.

@Crystal Townley yes! We have a House Hacker meetup the 1st and 3rd Thursday of the month. A pretty cool group that has focuses in short, medium, and long term rentals. Let me know if you want the info.

@Kyle Herling they beat me to it but yes tonight at Oskar Blues. Hope to see you there!

Also, not sure what ths laws are but you may want check and see with Ohio investors how they are doing it.

@Allyn Becar great question. What I have been doing is writing in a cost of living increase clause with my tenants. The general gist is every year rent will increase by $× based on a comparitive market analysis but no more than $50/month. I am kicking around moving it to no more than $75/month. That way you're not crushing a tenant you like with a huge increase, but you are accounting for costs increasing.

@Kris Johnson congrats on the new adventure. Multi-family is a little tough in COS these days (know a few agents/investors looking for them right now) but not impossible. Really it just comes down to having all your ducks in a row and when something comes up that meets your requirements, you need to pounce. There are also a few meetups in the Springs that could help grow your network. Beyond that, happy to help in any way I can.