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All Forum Posts by: Katie Hoffman

Katie Hoffman has started 1 posts and replied 6 times.

Thank you Jeff for your detailed reply! It’s good to hear input from someone who is successful doing what I want to do and hear your actual rental price for similar 2/1 in the area. I appreciate the idea of looking at apartments and townhouses as comps (didn’t know to do that) and also of getting lender input first. I didn’t realize that I may need two loans to purchase! Thanks again! 

Thanks Brady for that breakdown! It is helpful to see it is charts/graphs like that, and I certainly don’t want negative cash flow. At your suggestion I did find the BP calculators and that is SO helpful! Thanks again for the reply. 

Wow, that’s awesome! Thank you for sharing your experience. $700 a month in cash flow sounds pretty sweet, esp. for Denver! 

Thank you so much, that is super helpful info! 

Hello all, I live in the Denver area and am interested in living for free through a house hack. I found a property on Zillow in the Westwood area (which I believe will be a high appreciation area). It is already in turnkey condition, however, could still be updated a bit to force appreciation eventually. It is a 2 BR, 1 Bath duplex going for $262,500 but there is the option to buy the other side of the duplex and have both units for $510,000. If I put 3.5% down, I would be paying $3235 a month for both units. Zillow estimates that each unit would rent for $1800 a month. However, this seems high to me? How can I be better sure of what kind of rent I could expect out of the unit and does this sound like a deal that would be good to invest in? I'm 100% new to this and don't know what to look out for. Any resources/guidance appreciated! Thank you. Ideally I would like to only live in the unit for a year myself and then use the money from renting both units to pay for a home in the Highlands Ranch area for myself or invest back into out of state turnkeys that cash flow. If I rented out both sides of this property at $1800, I would be cash flowing about $365 a month. If I lived in one unit and rented out the other, then I would have a mortgage payment of $1435 which also seems high to me for 717 square feet of space. What am I missing? Thanks! The address is 2841 W 3rd Ave, Denver, CO 80219 listed here: https://www.zillow.com/homedet...