All Forum Posts by: Kenny Smith

@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

@David Bean

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!

@Michael Raymond

I'd start by trying to first identify what your investment strategy is going to be.  From there, start to figure out which markets caters best to that strategy, what your entry costs are going to be and what markets you can afford, and narrow it down that way.

Once that's done, I'd then get connected with a local Realtor in that market to identify what areas/neighborhoods would best fit your needs.  If you are looking for partnerships, start perusing the forums page for other investors in that specific market.

Good luck!

@Pafoua Vang Xiong

A bit confused on your question.  Are you pertaining to off market deals?  I use RedX, and focus on pre-foreclosures if you are looking for good off market deals.

@Jose Perez

Check out airdna.com.  They have a whole bunch of stats that can help identify your target market.

Good luck!

As a Realtor in the Denver market, I track where our markets numbers are on a daily basis.  With the rise of rates, home prices have fallen, just like most places.  I'm not so curious on where rates will go, because nobody has a crystal ball.  More so the affect on the market of potential falling rates.

For example, rates dropped yesterday.  The likelihood of home prices or the market changing because of a small drop is likely not very much.  At what rate percentage could we start to see home prices going back up?  And if they do, by how much?  It seems the equity growth we've seen over the last 2 years was unprecedented.  Can that continue?  Or, if rates drop just slightly, do we simply see a more balanced market and home prices plateau for a while?

@Alisha Feaster

Check out Redx.  Fantastic Real Estate prospecting platform.  They have pre-foreclosures on there which is an excellent way to find off market deals, along with other lead sources.

Good luck!