All Forum Posts by: Joseph Graeve

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?

Like @Adilah Curry said, Facebook is a good one where you can find groups like Denver rentals or Denver rooms to rent etc. Try backpages as well.

  I am in favor of Air BnB . Anything that shakes up the market and forces people to innovate is a good idea. In this case its forcing hotels to innovate.

Hey @Account Closed !

 Awesome job finding a deal you can house hack. One way to just add a little more cash into your pocket is to live in the 2 bedroom side and rent out the 3 bedroom side BY ROOM. you can most likely get 500 for each room and then you're bringing in 1500 on that side. This will help a lot and you're right next door to manage and see everything that's going on. I have done this with the house I live in as well as another rental that I am renting out by rooms. Also I have been trying Air BnB in one of the rooms of my house. so far its getting me around 750 a month when normally I get 500.