All Forum Posts by: Jeremy Gaal

@Scott Dongjin Lee sounds good! Thanks for your continued service!

@Scott Dongjin Lee finding 1% deals are hard to find because the market has been absolutely on fire of late. To give you an example, my first house I bought in 2015 just appraised 30k over what I expected it to. Currently I cashflow quite well with it (that will change a bit come January but will still be cf positive). What I have been finding on average is most houses currently for sale will give in the neighborhood of 200/month cf. Obviously it can ebb and flow a bit with the market but for me as long as I eek out some cf I'm happy as this is more of a long term play for me.

@Scott Dongjin Lee would echo Dimitri's response in getting a SFH first. I'm in the Colorado Springs area and the rents here are quite nice. I purchased my first home VA and it has been the house that keeps giving. The appreciation has allowed me to refi and am in the process of purchasing a new build rental property. There's a ton of analysis to do but you're gon a learn so much more by taking the plunge and buying. If you need help or have questions about the area feel free to reach out. Always happy to help a fellow brother in arms.

Following this question as I have a seperate account but am thinking it would make sense to talk to a professional in this area before tax season.

@Brian Plesscher str is not a bad idea, unfortunately not something that you can always do in the Springs. I debated doing the exact same thing (renting to students) as i have a few friends that are renting by the room and are quite successful at it. Best advice I can offer is screen tennants effectively. There are several books floating around regarding that. If you're thinking Airbnb it would come down to how your house is zoned.

@Nathan Smith the answer you're most likely to see here is it depends. Seeing as how you talked about military benefits, I can tell you they are a great way to get started. I did college courses while I was in and am now complete with a Masters Degree having cost me about 500 for all of it (the rest paid through the military). The VA homeloan is also an amzing tool that allowed me to buy a home, live in it, is now a rental, and I'm refinancing to pull $ out to buy a new rental (it's a gift that keeps on giving). All I can tell you is that regardless of the path you choose plan accordingly.

Have to agree with Frank. Being from the Springs and getting started takes some effort and a little creativity but there are definitely possibilities to be had. I'm in the process of closing on my first true rental property but second rental in the next month. I've found a few deals that would cashflow something acceptable to me (for reference I want at least $200/unit).

In terms of markets around us, Pueblo is heating up and there are properties there that can be had cheaper then in the Springs and open to BRRRR. I also keep hearing about Colorado City which is an hour south of Pueblo but don't know enough about the market. Someone like @Raylene Luckett Froman could comment further on both areas.

@Jenny Bayless, i can also backup the market here in Colorado Springs. I bought my first house about 5 years ago and in that time it is gone up just under 100% in terms of appreciation (86% to be exact) and recently converted it to a rental. The Springs market is on fire right now with extrenely low inventory and people coming from all over. Add in a huge military prescence and a growing local vibe and its been adding up to fantastic investments here.

@Jeremy Babin if you look through BP a bit you'll see some of the programs that are out there. For me I'm still looking/learning but leaning towards rentredi myself for my properties

@Diana Martinez you can ask on this forum. Look for the locals and find the Austin market. I'm sure there is someone aroubd here that can help or knows someone who can.