All Forum Posts by: Lindsey Z.

@Anson Young thanks for the tip on 1st bank! Arvada is definitely on our list, it's difficult for us Californians to get a pulse on the traffic situation because it's all relative. I've heard there is traffic but 10-15 mins is negligible to us.

@Kerry Baird I'll check out PNC too

@Steve K. agreed the 1% rule seems impossible. There isn't that much by way of multiplexes that I can see (on public listings). Loopnet has a lot of retrofit duplexes but that middle range of 5-10 I agree would be ideal. I didn't specify in OP but the 3 doors wouldn't have to be in Colorado. We want to take advantage of a primary res mortgage while we can in CO which makes it advantageous to buy, but we may be looking at more WY or OK properties. From what I can see CO will be about the appreciation more than cash flow, both important.

Thanks all, maybe see you at a meetup sometime hoping to find the occasional good one!

Hello BP, kindly seeking advice on 2 things:

1. best neighborhoods North/West of Denver, CO for long term appreciation and a good first time Colorado experience

2. lender recommendations for an 80/10/10 program

My husband and I live in Orange County, CA and started listening to BP 2 years ago. 29 and 32 y/o. Portfolio:

A duplex in Oklahoma city - 100% occupied

A half-duplex in Oklahoma city - 100% occupied for more than 1% rule

An SFR in Casper, WY - occupied by family at a good rate with very little vacancy risk

A townhome in Anaheim Hills, CA 3BR/3BA that has been our primary residence

We just received an offer to move to the Denver area where my company's second largest office resides. Many if not all of the relocation expenses will be taken care of and husband already has job offer as well. The dilemma - Colorado, although cheaper than CA, is not cheap!

Our plan was to buy 3 more doors this year, and we will be renting out our townhome in CA. It may drag between 0 and -$250 in negative cash flow but we want the option to move back as well as it's in a high rent area so if we can see it through to payoff (we are long term holders) it's a cash cow in retirement and it'll be paid off in our fifties.

Here's the plan we've been hatching:

1. use an 80/10/10 to buy an SFR in Colorado as new primary residence - keeping an eye on the 1% rule but knowing that this won't be a rental for at least 2 years, the reason we wouldn't be putting more down is houses are in the $350-450k range and we want to reserve enough cash to stay on track for #2 below. the piggyback would let us avoid PMI but also pay off the balance at our leisure with the added bonus of keeping a HELOC open as well.

2. Continue to buy 3 doors as we had planned

We don't want to rent in CO (we have a large dog, and outdoorsy vehicles/tools/etc). We have very high W2 incomes that allow us to continue to qualify for mortgages.  

Thoughts and constructive criticisms are welcome.

Cheers!

@Chris Cooper has been fantastic. My husband and I are some of the out of staters currently in double escrow on 3 units with him and team. 

@Art Perkitny I second Joe's question - where do those maps come from? Is it a subscription service?

Hi Eddie - 

My husband and I just joined BP, we've done 2 successful house hacks/flips in SoCal, with our recent one hitting the market in just a few weeks. Looking to downsize ourselves and reinvest profits... but as you know SoCal prices can make that difficult. We are in the beginning stages of out of state investing, but both type A business people looking to make genuine connections with others in the REI community. I reached out to connect with you, talk soon.

Thanks,

Lindsey