All Forum Posts by: Matt Anton

@Diedrick Nagel if you have any wholesale deals available I would be interested in talking. 

@Jonathan Harris the link for the webinar is https://www.biggerpockets.com/proreplay/169-how-to-buy-your-first-or-next-rental-property-in-90-days-or-less

@Matt R. - Thanks for chiming in.  The problem in CO that I am finding again and again are properties with terrible numbers, even if they are in need of major rehab.  I am also not able to invest the type of down money necessary to buy better homes in better markets in CO even if the numbers do work.  There are towns in CO with cash flow opportunities but they are in rural areas, or in D/F neighborhoods of Denver/Colorado Springs.  I'm a little worried about buying in rural areas due to, what I would guess will be, much higher vacancy rates and a lack of appreciation.  Although, prices along the front range of CO are appreciating like crazy the rural areas have not.  My focus is on finding B class properties with cash flow and slow and steady appreciation.  CO will give me the appreciation if I'm in the right location, but I've struggled to find any properties.  

I will definitely continue looking in CO and have joined a local investment club, because I would like to ideally invest at home.  On the other hand folks on BP have me thinking about the opportunities out-of-state.  KC is a reasonable drive to make a couple times a year and seems like a solid market with great cash flow opps.  Again thanks for chiming in, I really appreciate your perspective.  What did you have to do to find investable properties in CA?  

@Patricia Miller @Rolanda Eldridge @Ali Boone @Chet Mostue

After researching out-of-state opportunities a bit more I am realizing this may the best path for me to pursue.  It seems like this has been the strategy for many CA investors for years.  @Chet Mostue - KC seems like a great city to invest in, if you find the right deal in the right neighborhood.  What made you choose KC over other quality out-of-state markets (i.e. - Indie, Cleveland, Tampa, etc.)?  Do you mind sharing your property management contact?  Are you looking for a turn-key or will you try to pull together a team to rehab for you?  Do you have any other resources I might want to check out as I'm researching KC opportunities?  

Unfortunately we have a new FHA mortgage with PMI for life. Only way to drop it is a refinance.

I know this questions has been answer a few times but I think my situation is different enough to start a new post.  I plan to pull some money from my primary residence equity to buy my first rental property.  I should have 20% in the home and have a couple options:

1. Refi and drop the PMI, then get a HELC to buy the property.

2. Refi and drop the PMI, then take a loan against my 401K and eventually pay myself back.

3. Refi and cash out enough money to buy the rental.

I should save about $150-200 a month if I drop the PMI and refinance on my primary residence, which is automatic cash in my pocket. I would also gain two month of mortgage payments that I can bank for the rental purchase.

I would appreciate any help you can lend!

The market IS tight along the CO front range.  We purchased a single family as a primary residence 15 months ago and it has appreciated about 20% and I expect things to continue, maybe at a little slower pace, for a few more years.  Should I take appreciation into account, or just look at cash flow?  As mentioned, my goal is buy-and-hold properties with good cash flow. So I'm open to expanding my horizons if I need to.

I planned to keep running numbers until I find something locally.  One trick that might make the numbers work is to find properties with the potential to add a second unit (basement, attic, outbuilding).  What about pre-foreclosure properties?  If I keep at I figure I might find something with this approach.   

For folks suggesting purchasing out-of-state - how much added stress does this add to the process?  What are markets I should be considering?

Thanks for all you support everyone!

Great webinar last night "How to Buy Your First (or Next) Rental Property in 90 Days or less", going through it again today!  Very motivating...and gave me a great "Blueprint" of how to get going after years of "Dead Space".  I've been motivated to get into buy-and-hold investing for a long time and always find ways to procrastinate and find excusing why (I can't do this/I don't have the money/I can't find properties with the right #'s).  I appreciate your support too @Jay Leisten.  *I WILL BUY MY FIRST PROPERTY THIS WINTER IN TIME FOR RENTAL SEASON THIS SPRING*  

Thanks @Dave Visaya and @Steven Butala for the warm welcome!  I look forward learning more, starting with a Podcast tonight on Bigger Pockets.     

Hello folks,

My name is Matt and I have been interested in real estate for many years. I even worked as a licensed Realtor in PA for a couple years in my mid-twenties. I'm now a CO lifer and can't believe the market in the metro areas of the CO front range. It is time for me to take the equity in my home, or some IRA $, and buy my first rental property so that I can start my RE portfolio.

What I have a hard time rapping my head around is finding a property in this super hot market with #'s that work out.  I've scoured the foreclosure listings for my county, and other online sources, and don't seem to get how to turn these listings into offers and ultimately close a deal.  What system can I use, instead of inventing my own, to organize myself to get to the closing table?    

If there is anyone out there who would be willing to mentor me, or just give me some guidance, so I can get from analysis paralysis to a closed deal, I would really appreciate it.  I understand the basics, have read countless books and blogs, but just can't seem to get past myself to get going. 

Thanks for reading!  

Matt