All Forum Posts by: David Mackin

Welcome welcome! Love the simple and effective strategy to get your momentum going!

It's not very hard for someone to search and find that you as an individual quit claimed into an LLC, so it's super easy to figure out that it's you who is the owner. Not usually worth it in my opinion as it doesn't necessarily add protection.

It sounds like you have good reason to move into the new home outside of the investment opportunity. I would focus more on that decision vs. trying to time the market. If the personal reasons make sense and you can afford it, buy now. If rates happen to drop, it's gravy on top.

I'm probably just reiterating what's been said above, but definitely house hacking. Simply because it is, in my opinion, the least risky way to learn as much as possible.

I certainly hope this is the case and it's a great point. To add on, lower rates would increase builder sentiment furthering the supply increase.

I certainly agree that this conversation is difficult when trying to blanket the entire market. For properties that end up selling for well over list price, rates typically don't factor as it is usually cash buyers making these offers. Same goes for the high-end markets you mentioned above.  For my point on hypothetical rate decreases, the major driver is really the supply and the demand increase that lower rates would bring.

Work mostly in Colorado as well. Super interesting market right now.

It seems like there is no middle ground right now. Properties priced from $600,000-$700,000 and west of Denver (Lakewood, Arvada) seem to be insanely competitive. Seeing the same thing South of Cherry Creek (go figures).

The lower price points and different areas seem to be enjoying a more stable environment. 30 day contracts, simple negotiations, etc.

At this point, I'm not sure anyone knows what will happen with rates in the near future, but if they happen to come down, we are in for one heck of a ride...

Like many said above, you can use 1-year if you have been in business for 5 years at a minimum. Even though your first year was very low for income, you could still see if you qualify when averaging across the two years of tax returns. Obviously dependent on how much you made in the most recent year, but you never know!

@Jacques Caspi

Everything @James Carlson said above is great.

I especially agree with the communication point. In the Denver market, a lot of times sellers want buyers to close quickly. I keep seeing contracts with 2-3 week turn times.
The lender has to be communicative, extremely organized, and is often a crucial part in giving sellers confidence in choosing your offer.

All of this on top of offering great pricing is someone you want on your team.

@Chandirasekarendiran Anandan welcome, welcome!

You are certainly in the right place to start learning and connecting. If there are any specific topics you are interested in, you can search the forums and find just about any answers to questions that you might have. If not, you can always post, and someone will likely have an answer for you!

I'm here and Colorado as well and love talking real estate. I'll send you a connection request. Let me know if you ever want to chat!