All Forum Posts by: Luke Borley

@Ramada Evans

I am a local Fort Collins landlord and I can share some insight. I own a duplex here that is about a mile from CSU and its one of the best investments i've ever made. Cashflow is about $1200/mo. Even with the rising rents, i'm never going to have trouble renting it out as a LTR with a prime location, booming population and the current housing shortage. Locals here are being priced out and unable to buy with the forced appreciation and now rising interest rates forcing them to remain renters. With that said, its also highly competitive and any multi-family that comes on the market in Larimer County is gone within a couple days with multiple offers. Also don't count out Greeley and Weld county, there are some great opportunities there, too!

I'm also a local realtor here in area. Feel free to PM me if you'd like to connect or if you need some help searching for a property. 

Cheers,

Luke

Hey Scott, 

I'd be able to meet up with you soon. I'm a local Fort Collins resident, investor, and agent. I currently have a duplex here in town and am looking to acquire more deals. Shoot me a pm and i'll send over my email and phone#. Let's grab a coffee, or beer if you prefer. 

Talk soon,

Luke

@Bob Okenwa Thanks for the tips! Thats exactly what i've been doing this week, so far no luck. The closest i've gotten in my search is a home equity loan which I can use as a backup. The mechanics of a home equity loan vs a HELOC aren't as favorable, for my needs anyway. The search is still on!

Hello everyone,

I need some advice regarding a HELOC.

My primary residence (located in Colorado) has approx. $130k equity that i'd like to tap into and use toward more real estate. The problem is my current day job is primarily commission based that i've only worked for 8 months, therefore i don't qualify for a HELOC. I have talked to a few big banks and credit unions in my town and the short answer i've received is NO because the co-signer (my father) does not live in my household and is not on the deed.

My question: Does anybody know anywhere I can open HELOC using a co-signer?

Any guidance is greatly appreciated.

Thanks,

Luke

@Luke Carl yes exactly $1000 - $1500 extra. With that being said it seems like a no brainer to me

@John Underwood @Jon Crosby Good points! I don't mind being involved if the income is greater. Plus i enjoyed being a host previously so i already know what to expect to a certain degree.

@Ken Latchers I appreciate  the tips! I actually didn't think about the taxes aspect so thanks for pointing that out. Thats why i love bigger pockets!

@Paul Sandhu Your'e right, I have made my mind up! I like to get feedback from the more experienced because i am not a seasoned investor as of yet. There are many breweries in Fort Collins but New Belgium is a good choice! Cheers

I own a townhouse in Fort Collins, CO which is currently my primary residence. I'm either going to:

1. Rent it out full time

           - or -

2. List it full time on Airbnb 

The cash flow for my unit as an airbnb is a lot higher than as a traditional long term rental (to the tune of $1000-1500 approximately per month). I know there is more upkeep with cleaning, turnover, vacancy, and more risk. I've also confirmed that my property is in the correct zone to qualify and i need a lodging license with the city. I have experience as an airbnb host for just one room in my townhouse, but not as an entire unit.

Im leaning towards airbnb - Im interested to hear what you guys would do? Pros and cons?

Thanks!

@Patrick Soukup 

Thanks Patrick! I have been looking in Greely as well. Seems like there is a little more opportunity there because the real estate is less expensive. I notice you are work with people in search for investment properties - i will be looking a rental in the next 2-4 months so i will reach out to you!

@Morgan Wallace Thanks Morgan! That would be awesome i would really appreciate it. 

I am very much a beer lover and am often a exploring breweries in town. My favorites are currently Red Tractor here in foco and High Hops in Windsor. Hope to see you there one day!

@LeonCollins

Thanks for the feedback. I just made this profile yesterday and i forgot to add the pic. I'm not currently. If i have any future deals, id love to get your opinion so ill shoot you an email. I am currently looking at multi - family opportunities that i have approx $120k cash to throw at.

Luke

What strategy would you use to invest $120,000? 

Cheers!