All Forum Posts by: Joseph Graeve

Hey @Elizabeth San Miguel

Funny how things like that end up being some of the best investment decisions you've made. I'm glad that its encouraged you to acquire more.

If you go to some of the REIA's ask to be introduced to some of the wholesalers in our area so they can star sending you properties!

Also I have a few flips going on in Denver and Colorado Springs if you wanted to learn anything about that market here in Colorado I'm your guy!

Keep Hustling

@John Seibert

Congratulations on the first deal. Is it a rental or flip? Tell us about the numbers and your strategy with it!

I commented on the other post you made. did you make two posts on purpose?

Let me know if you have any more questions

Hey @Joey Brown

Good questions. So yes you're right but its a little more complicated than that. I'll just  cover all the bases even though you know some or all of this already.

Your mortgage payment, lets say its around 1000 monthly, is split into principal and interest. so for the beginning part of any mortgage MOST of the payment is going to interest and not equity. Some people say the threshold is 3 years, as in if you buy and hold for 3 years you will usually break even and profit after the sale. Just depends on appreciation and how you buy to begin with.

But for the most part yes you will get your appreciation plus equity build up when you sell. Another option is refinancing or taking out a HELOC to get the cash out without selling. This way you wont have to pay any taxes on it.

If you keep longer than a year you pay capital gains tax and not normal income tax.

Hey @Benjamin Runtz

What about Mississippi interests you?

Hey @Erika Hexter

Good job taking the first steps!

What kind of rental properties are you interested in?

 I can introduce you to some good wholesalers and contractors, hard money lenders, @Drew Fein said Hi  but didn't mention she was a RE attorney.

Definitely introduce yourself at the REIA's. Good Luck! Message me if you have any questions.

@Brian Lumpkin

Great job joining biggerpockets to get started! You came to the right place.

Definitely come to a REIA in the local Denver area. There is one this Thursday and one next Wednesday. Check out the networking events button under the community tab. Let me know if you cant find them. At the REIA's you should be able to meet some wholesalers in the local area that could start sending you deals.

I am mainly a fix and flip investor anywhere from Denver to Grand Junction to Colorado Springs and Pueblo. But I also come across quite a few rentals that I could send your way if you're interested.

let me know if you have any questions about the local area or want me to look at a deal for you.

Nice! I'll shoot your number my brothers way and see if he has anything for you.

Thanks @Rod Khleif. Are you looking to acquire more or are you happy where you are?