All Forum Posts by: Kenny Smith

@Tina Wills

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good Luck,

Kenny

@Sam Robbins

If you want to save some money, you can also do the tear out yourself.  Carpet is super simple to tear out.  Tile can be difficult depending on what you're using.  You can rent a machine from Home Depot and rip it up that way, going to be most efficient.  Or the old fashioned way to take a crow bar and hammer and just hammer it up.  It can be a bit labor intensive, but if it's a small space, I'm sure you could do it in a weekend.  Good news is, its really not something you can mess up.

Once that is done, I'd go the handyman route and pay someone by the hour to install it.

Best of luck!

@Hariharan Elavarasan

My best advice is to work with an agent that has house hacked before, or a team that has the systems in place to help guide you through your house hacking journey!  Make sure their relationship with you doesn't end after you close, you should find a mentor to really guide you through the process.  Because when you're starting out, you don't know what you don't know!

Best of luck.

Kenny

@Brian Court

Agree with everyone else on here.  I know someone on my real estate team that has done it out of state.  It just came down to making more calls, and finally found an apartment building that allowed it.

Keep calling! 

Best of luck.

@Tom Kuslikis

I agree with everyone else here, but keep in mind, this isn't just for medium term rentals! We have a few STR's as well, and even an LTR. Besides the actual holiday weeks, our STR's have been very slow.

Next year, I'd try to find someone on a 3-4 month contract prior to the holidays.  Even if it is for a little less money.  Maybe look at lowering your price in the meantime?  See what your competition is at, and price it right below them if you really need it rented.

Best of luck!

@Russell Woodbridge

Bradley put it best.  Biggest thing is to be honest and up front with your lender! 

Best of luck!

@Antonio Rivera Fontanez

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1. Subscribe to the BiggerPockets Money and Rookie Podcasts

2. Attend the FREE WEBINARS

3. Attend a Meetup in your area/virtual meet ups

4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good Luck,

Kenny

 Haha, thanks for your input!  I would probably agree with that, but I guess we'll just have to wait and see!

Quote from @Russell Brazil:

Quote from @Matt M.:

Quote from @Russell Brazil:

Prices in Denver are up 8.5% year over year. Doesnt look like theyve fallen to me. 

 They've fallen from the highs of earlier this year. The only reason they haven't plummeted is because our supply is still low. 

 Isnt that normal? It is in most of the country that prices peak in q2/q3 then soften in q4. Happens in rising interest environments, happens in falling interest rate environments. See in the chart a little downward bump every 4th qtr.

 April was the peak, and they've fallen 10% since then.  Correct me if I'm wrong, but that doesn't seem normal to me. 

@Lora Sitler

Congrats on your early success!  

If you'd like to continue to do MTR's, I would revert back to furnished finder!  They have an awesome stat page on where cities rank as far as number of searches for that city through furnish finder, and also have average prices, etc.  Fantastic tool that is completely free.  From there, take say the top 10 or so cities and narrow it down from based on pricing.  What is going to be your entry costs into this market, and what can you afford.

After that, I'd reach out to a local agent to best identify what areas/neighborhoods cater to your strategy and start analyzing deals.

Let me if you're interested in Denver!  I'm a local investor/Realtor here, and we rank #5 for travel nurse demand.

Good luck!