All Forum Posts by: Dan McDermott

Thanks for the feedback, everyone! I'll be connecting soon @Jordan Malara @Ryan Thomson

Hello folks! I recently moved to Colorado Springs and I'm looking to buy something I can potentially house hack and also improve in general. 

I've heard some pretty rough stories about south of downtown....but, also, opportunities? 

I'd appreciate it if anyone here knows the city and can give me some pointers on the area. 

Thanks!

Thanks for the fantastic response, Frank! You definitely raise a bunch of points that make a lot of sense. One of the biggest pitfalls is the age of the buildings I'm looking at. 

Kevin, I'll reach out via message right now. Thanks for chiming in too!

Hey! Anyone out there have experience buying mixed use properties in smaller towns? I'm specifically interested in "main street" properties with a downstairs retail space, upstairs apartment(s).

If you know of anyone with this sort of experience, I'd REALLY appreciate the connection. I've got a couple of soft factor questions I'm not sure how to analyze and would love to speak to a few of you more experienced types!

@Mark Neiger I can relate, I'm also not particularly tied to a region (yet, anyway), and I'm trying to make my first move into MFRs this year while trying to choose a market I believe in.

I've broken the process down into:

• What am I looking for in a city? University town, major employers, tech center, etc are important to me.
• What does the real estate market look like? What does the MFR market look like? The actual numbers. Talk to BP members from the location, you'll quickly see a lot of congruence in terms of market perception, expected direction, and their business models
• Will this location work for my trading business (time zone, taxes, other traders present?)
• Can I see myself living here? I'm spending the next couple of months traveling to a few of these cities and spending some time getting to know the place. Maybe a bit much, but while I might be ok with investing remotely, I'd only be comfortable if I had spent some quality time in that city. I'm currently in NM and already have had very positive conversations with some local BP members.

Best of luck figuring out where to jump in. Good to see others making the same decisions, keep us updated!

Hi @Aaron Mazzrillo , apologies for not replying to your reply sooner. You're very right in advising lifestyle considerations - but it's crazy how little I know of the US (born/raised overseas, worked most of my career abroad). 

I've done a lot of remote research, and I've chosen a few cities/areas to check out. I plan to spend a few weeks in each, hopefully linking up with a few BP members in each place.

On that note, if anyone is in Albuquerque or Santa Fe, NM (or anywhere in NM or southern CO) and would be interested in meeting up - I'm very interested in MF buy and holds with some basic updates. I'm very open to the idea of a profit-for-experience type of partnership setup, and if anyone would like to meet up - beer's on me :)

Hello, new guy here. 

I'm moving back to the US soon and I'm going to choose a location based partly on the local/regional real estate markets, as I'd like to start investing. I'd appreciate any market research resources anyone could point me towards (Redfin has some interesting reads, any others?). Also, if anyone has experience picking up and moving or expanding their geographic focus, were there specific criteria or catalysts that drove your selection of a particular new market?

I realize this is a completely subjective issue that depends on individual circumstances, goals, strategy etc.....I'm not looking for any perfect solution or hot tips, I'm just trying to look for potential long term value and a flexible market, and I'm interested in hearing about how others conduct their more general market analysis.  

Thanks!