All Forum Posts by: Judd Meng

Thank you all for your time and tremendous advice! I really do appreciate the community. I'll keep you posted on how it goes!

@James Carlson and @Ryan Thomson

Yeah, it sounds like you have a similar thought process. I'm not entirely sure the juice is worth that squeeze...unless it was an excellent opportunity! I agree, I think i'm leaning more towards a basement apartment or an in law suite or detached dwelling unit! Thanks for that idea. I just started looking into the STR rules within the Springs, so we'll see how that one goes! Thank you again.

I

All,

Thank you very much for taking the time to respond with some ideas and advice, I really appreciate it. I agree with all of the inputs...saving up even more, sacrifice a bit more, think more seriously about house hacking, etc. I was also looking into a SFR with the ability to build a (I can't remember the acronym) mother in law suite or separate dwelling. Do any of you go to any of the local meet ups?

Thanks,

Judd

Greetings all, 

I'm just getting started in the world of RE investing in my 40s, and would love some advice or insight into out of state opportunities to open up more possibilities and flexibility for portfolio expansion. I've read multifamily millionaire, and i'm currently reading Long Distance Real Estate Investing. I know that house hacking is a very common first step into investing, but from what I understand so far, that's not possible for out of state opportunities due to occupancy requirements of the various low/no money down loans such as FHA or the VA loan (which I can get). Due to that fact, one would need a pretty significant amount of cash for a down payment to secure a more conventional loan...which I don't really have.

Is out of state investing not really in the cards for me right now? Should I look more into more creative financing such as subject to? Should I just suck it up and house hack in CO for awhile, despite really not wanting roommates or similar (I know, boo hoo)? 

Thank you for your time!