All Forum Posts by: Lance Smith

Bill,

Thats kind of the way I was leaning, at least for the lower cost townhouses. We do have some that demand $1600+ in rent which I think allows for more flexibility with HOA's. Thanks for the input.

Outside of the basic calculations for monthly cash flow how much consideration is being given to monthly HOA fees? In my area they typically average $200 to $300 and they do not seem to be proportional to the value of the property. For instance, a $130,000 townhouse will have a $225 HOA fee and a $250,000 townhouse will have the same. A large percentage of the monthly rental income, sometimes greater than 20%, is being consumed by the fees and it greatly effects cash flow. I understand the money is made upon purchase but are the HOA fees worth it? Would it be better to seek out SFR's and assume a larger mortgage in search of higher cash flow? What has been your experience?

Thanks,

Lance

Nice! I actually live in Parker but I work for Aurora. I see you want to retire by 42. I've always wanted to be done by 45 or at least have that option if I wanted to take it. I've noticed there are a lot of foreclosed or at least vacant homes in Aurora. Seems like excellent opportunities given the cost of acquisition. In your personal opinion, because it's understood different socioeconomic levels present their own problems, would consider investing along colfax? It's a cheaper entry point but I fear the problems would offset that benefit.

Hello everyone,

I am a new investor from Denver and am happy to be apart of the BP community. I have spent the last hour or two jumping from one forum to the next and the wealth of knowledge is amazing. I've read dozens of books one the subject and I feel my education level has increased two fold by reading these forums. Well a little about myself....

As the title states I am from Denver and I am pursuing REI investing. My ultimate goal with investing is to replace, and hopefully increase, my current income from my employer. I feel there is something to be said about being self employed and I look forward to being in charge of my future. I made it my resolution to participate in my first investment this year and I'm excited to see where it takes me.

I've found the trouble with most things in life is taking that first step and I feel this is no different. I have limited funds, 10-15k, but I do have the resource of a great friend and possible partner who would match the investment. I feel blessed for this but I don't want to tie up all of our capital in a long term rental. I feel it will impede future growth. Of course the only way to gain more insight is to return to the forum and research so off I go!

Thanks for reading and I wish you all the best.

Lance