All Forum Posts by: Mark Smolin

Not nearly as impressive as some deals on here, but my first deal is my favorite and completely changed my life.

I purchased a duplex south of Denver CO in 2011 for $242k, 25% down. My wife and I still live in one unit, and our tenant in the other has just signed for her 10th year. Despite ample advice to the contrary we paid off the mortgage early. The amount of stress that it’s eliminated from my life can’t be measured.

Hey BP friends,

I've traditionally invested in MFH (2-4 units) in the Denver area but am finding it harder and harder to find the type of deals I like. 

Curious to hear recent experiences from investors in other parts of the country. What kind of cash flow is reasonable to expect in your area, for instance with $100K available to invest?

Thanks,

Mark

@Polo Vazquez thanks for your reply! I think I will go with a high yield savings account as well.

Hey BP friends,

I’m curious to hear how other investors approach emergency funds/cash reserves for their properties.

I’ve been keeping individual cash reserves per door, but as my portfolio grows I’m having a harder time stomaching the idea of chunks of cash sitting and not earning interest. I recognize it’s essential to access the funds quickly in case of an actual emergency, but wondering if there’s a better approach than checking accounts/high yield checking, etc?

-Mark

@Brad Fletcher @Todd Burton Thanks for the tips guys. I'll do some listening and investigating on Mr. Morris and see what I find.

@Richard Leyba tejada We closed in early August of last year. Rookie question: what is your calculation for cash on cash return? Is it Down payment divided by monthly rent? Purchase price was $210K and I put 25% down. Monthly gross rent is $2,100 ($1050, $550, $500).  

@James Carlson Thanks James. I'm all about @efficiency.

@Richard Leyba tejada I worked with Kim on finding/purchasing the triplex as well. 

@Shannon Collins Hi Shannon. I'm interested in learning more about the market out there. Sending you a PM.

@Dave Visaya Thanks for your reply! I'm excited to jump in.

@Account Closed Hi Teri. Thanks for the tip! I'll look into it.

Hello everyone, 

My name is Mark. I'm a 37 year old Denver native, and longtime lurker on BiggerPockets. I've been investing in the Denver area since 2011, and the more time I spend on the site (reading forums, listening to podcasts, etc) the more I realize how little I actually know! I'm looking forward to networking and continuing to learn from this community.

My goal (obsession?) is complete financial freedom through buy and hold rentals, and to get there as quickly as possible. My focus so far has been on 2-3 unit MFH. With how expensive the Denver market has gotten these past few years, we've started exploring other markets around the country. My wife and I are currently house hacking a duplex south of Denver, and we have 6 units (3 duplexes) around the Denver Metro area. We got our first out of state investment, a tri-plex in Lakeland FL, last summer, and are starting to research other markets to hopefully continue growing our portfolio this spring. 

I'd love to hear from anyone with tips, suggestions, questions, just to say hello, or for any other reason!

Thanks,

Mark