All Forum Posts by: Jordan Malara

Hey Colorado Springs, I’d like to invite all active duty, reservists, and veterans to join me for a casual meetup about Real Estate Investing! My intent with this meetup is to support military members in their pursuit of real estate investing and financial freedom. This meetup is completely FREE with no sales pitch attached. Just a space for everyone to come together, share their experience and knowledge, and foster mutually beneficial relationships. It will primarily be a time of networking and learning from each other, but depending on the group size we may move into a structured Q&A format.

I would love to get something like this scheduled regularly, maybe 1x month, but want to gauge interest before diving too deep, so let me know if this is something you would be interested in!

About Me: I was born and raised in Upstate New York before going down to Oklahoma for college where I studied mechanical engineering while also participating in Air Force ROTC. After graduation, I commissioned into the Air Force and stationed at Schriever AFB in Colorado Springs, CO. Then, at about my 3 year mark in the Air Force I had the opportunity to transfer into the United Stated Space Force. During my time in the Air Force and Space Force I worked as a satellite operator and commander for the GPS satellite constellation (2 SOPS). It was during my first few years in the military that I discovered real estate investing and it has changed my life since. In a few short years my wife and I have gone from 1 door to 8 doors with a balanced portfolio of long term rentals and short term rentals (Airbnbs). We are well on our way to financial freedom and my desire now is to help others get there too!

Are you interested in joining a community of local, like-minded real estate investors designed to learn and grow together? If so, then we welcome you to join us for our meetup centered around creating community and sharing experiences related to Real Estate investing and House Hacking in the Colorado Springs area.

Come learn and share without a sales pitch! Whether you're a new investor learning how to get started or an experienced investor looking to network and expand your knowledge, we want YOU to join us. This meetup is 100% FREE and is designed for those who want to grow and challenge each other in the pursuit of financial independence and your WHY.

***This week we will have a brief discussion on the importance of interest rates and investing in a recession followed by some networking time.***

Cheers and See You Soon!

Are you interested in joining a community of local, like-minded real estate investors designed to learn and grow together? If so, then we welcome you to join us for our meetup centered around creating community and sharing experiences related to Real Estate investing and House Hacking in the Colorado Springs area.

When: May 12th at 6:30 PM

Where: Oskar Blues Grill & Brew

Discussion Topics & Future Presentations:

• Deal Analysis
• House Hacking
• Loan Options for new investors
• Airbnb and Short Term Rentals
• The Real Estate Market
• Estimating Rehab Costs
• Property Management
• Taxes/CPA
• Organized Q&A
• Goal-setting
• & More!

Come learn and share without a sales pitch! Whether you're a new investor learning how to get started or an experienced investor looking to network and expand your knowledge, we want YOU to join us. This meetup is 100% FREE and is designed for those who want to grow and challenge each other in the pursuit of financial independence and your WHY.

Cheers and See You Soon!

Hi Andre, I have a few STRs down in the Springs and as others have mentioned, the city of CO Springs has tightened regulations over the years, but it is still possible to find properties that can be used as STRs. I'll also add that anything outside of the City of Colorado Springs is still fair game at this point, but that doesn't mean that won't change in the future. 

You could definitely call the planning departments for each city which would give you a very accurate answer but a better first step might be to connect on BP with investors in those areas to see if they are good STR markets to begin with. Best of luck to you!

Hey @Joshua Mason congrats on getting started! Progress may feel slow at first, but in no time you'll be crushing it!

One of the best ways my wife and I got started was through low down payment, owner occupied purchases. We then paired this strategy with house hacking so that we could reduce a portion or all of our mortgage payment each month and instead put that money towards saving for our next property. We then just repeated this strategy by moving every year using another owner occupied loan until we had a growing portfolio with enough cash flow and equity built up to start investing more aggressively. 

I personally think this is one of the best ways to get started because most people starting out don't have a lot of capital to work with, so only having to put down 3%-5% on a half million dollar property in the Springs can make investing much more affordable initially. 

@Vincent Pirrone Congrats on this deal! Short term rental's are such a killer way to generate extra cash flow on a property and the deal always gets even better if you can create a second unit to use as an Airbnb as well. Keep it up and would love to connect sometime!

Are you interested in joining a community of local, like-minded real estate investors designed to learn and grow together? If so, then we welcome you to join us for our meetup centered around creating community and sharing experiences related to Real Estate investing and House Hacking in the Colorado Springs area.

Discussion Topics & Future Presentations:

• Deal Analysis
• House Hacking
• Loan Options for new investors
• Airbnb and Short Term Rentals
• The Real Estate Market
• Estimating Rehab Costs
• Property Management
• Taxes/CPA
• Organized Q&A
• Goal-setting
• & More!

Come learn and share without a sales pitch! Whether you're a new investor learning how to get started or an experienced investor looking to network and expand your knowledge, we want YOU to join us. This meetup is 100% FREE and is designed for those who want to grow and challenge each other in the pursuit of financial independence and your WHY.

Cheers and See You Soon!

@Devin McGinley I would agree that selling to access the 40k in equity that you have would not be your best move. One of the greatest benefits of owning real estate is the long term, fixed rate debt that you acquire with a property, especially as interest rates continue to rise, so holding on to your property and the debt tied to it would be best for you in the long run. 

Have you considered getting a HELOC on your current property as a way to access the equity in your home? We have a lender that will do a 100% LTV HELOC which would give you access to all the equity in your home which you could then put towards your next home purchase. Let me know if you'd like more info or want to chat through some other options!

@Steven Foster Wilson is spot on with expanding your network. This is as simple as attending local meet ups to connect with other like-minded investors and absorb as much knowledge as you can from them. Local meet ups can be found on BiggerPockets under Education->Events, on Meetup.com, and on Facebook. Keep up the enthusiasm and remember that all good things come with time. Real estate is a marathon, not a sprint.

As others have alluded to above, the answer to this is highly dependent upon so many factors including your overall investing objective or goal. If you are investing for the long haul, then I would say it would be most beneficial for you to spread that capital out and utilize leverage from banks. With the insane amount of inflation we are currently seeing, locking down long-term, fixed rate date is a very smart move. The other important thing to analyze when looking at various investing opportunities is the Debt Service Coverage Ratio (DSCR). This will help mitigate your risk in future market volatility.