All Forum Posts by: Rocco Montana

@Mike Schorah Here the deal, from an Investor turned agent that invests. I invested in Fortune builders with every penny my wife and I had at the time, and it was great and helped me learn A LOT about all types of real estate investing. I found a wholesale deal on Facebook and made 16k with 4 hours of work. Quit my $100k+/year job, with the support of my wife and my next deal didn't come for almost a year. I had no 401k, no trust fund, and i'm a confident networker and deal maker. I raised $1M+ in private money to do a few flips, made money, kept a couple, and lost $250k on two terrible projects in year 2, family money and CCs I should have sorted in the next 18 months. Fast Forward to year 6(now). I learned after TONS of resistance the conduit of opportunity went from being a real estate agent to being an investor and not the other way around(for me). If you have a few thousand dollars to invest in marketing, online, mailers, leave behinds, events etc. Say $3k/month, you SHOULD see an ROI in 6 months or less as a wholesaler OR Real Estate Agent. Truth is 95% of real estate agents DO SUCK, but the ones that have experience investing, can provide options and creative deal structures will far surpass those that dont. Either one takes work, but the highest reward compared to risk is beaing an agent. This may depend on your market, My personal average sale price is almost $800k in Colorado, even at 2.5% My commission checks average is almost $20k.

Is It EASY to make money as an agent, I say, in line with your (accurate) judgement that most are lazy and unmotivated, if you put in a mediocre amount of effort you will be WELL above average agent. Care about the solution for your customer, regardless of which hat you wear, and you'll be successful. That....and Follow Up!!

Have you researched on AirDNA.com? I'm a fan nd believe there is a BP pro perk to sign up with thier data.

Check out the Creative RE Lunch Club of Boulder.Check out Creative RE Lunch Club of Boulder http://meetu.ps/c/3FCZ1/xKWXh/d on Meetup

I love in Boulder and have partnered with Adam on a few things. Let's connect. I have two AirBnBs and 4 flips going on right now and I'm an active agent.

@Steve B, you're comparing Midwest markets to Boulder, Colorado, apples and oranges...

@Steve B You articulated much better what I was mentioning earlier in this post. I think you nailed it from a good advice stand point. 

All points are valid in those last two posts. You can get a huge house, yard, garage, prime location, whatever you want practically, for $600k in Longmont, Broomfield, Lyons. Alternatively, having an extra room you can rent, OR AirBnB which a bedroom, in a condo, in Boulder, that I own, makes an average of $2000/month. Just food for thought. 

IT IS NEVER THE IDEAL SITUATION TO BUY FOR APPRECIATION UNLESS YOU HAVE A CRYSTAL BALL! 

Buy investments for cash flow. I still think Boulder is a recession resistant market, that is MY OPINION but is backed by history, finally another disclaimer..... Past results don't Guarantee future performance.

Good luck!

I appreciate the feedback, Scott, and Thomas, my POS business sees several happy people getting parental assistance in a desirable area. I recommended Brittany speak with people she's involved with already, not pushing my services. I'm happy to provide data on the strength of the Boulder housing market now, in the past decade, through the last recession, and the positive economic indicators for the future and Happy to provide it for free. I also work with several out of state buyers from places like North Carolina, Illinois, and a several other states that don't know about the local market, they see $600k condo and move on. Average home price in Boulder is closer to $1M and condos over $500k.

Honestly, a $600k condo, plus HOA fees is probably the same monthly total cost of a SFR around $700k and will provide a historically safer return on equity than a condo.

As a local professional I'm happy to offer some input after 13 years living in the market Brittany is inquiring about. Being full time investor and agent for 3+ years. And I'm happy to offer a beer/coffee/lunch in person to help review the dynamic and discuss options. Not to be your realtor or push my "POS" business. 

Thomas, that's a ridiculous and non constructive comment. I am a real estate agent in Boulder, house flipper, Airbnb owner, and multifamily investor.

Brittany, you are correct that Boulder is a "safer" bet than almost anywhere in the country and it's VERY common for parents to help thier kids/grandkids with down payment assistance ESPECIALLY in a desirable, recession resistant market like Boulder (or Austin, San Francisco, Seattle, Portland, etc)

Brittany, are you working with a realtor or lender you trust, that is local to Boulder? If so this is a great conversation to have with them. Congrats on the upcoming kiddo! 

I live in Boulder, if you're talking about on University Hill, to move thirty with your family, you're definitely not in an area you want to be. Adding sqft could work or could be a nightmare with the city, as they tend to be. 

Permitting will be long for a scope that large, be prepared to hold the property for 2-3 months work no work waiting for permits. Are you popping the top? You need to consider your height restrictions in Boulder regarding solar and views.

Do you have a ROCK SOLID construction crew that has operated in Boulder before? If not, hard pass.

I have flips in Fort Collins and Denver and been trying to find something that makes sense in Boulder for two years as I Live there and love it.

I've been advised that you should create your own individual LLCs and the have those two LLCs be 50% owners of your forward facing LLC. I am a month into an educational program called that advised that is how to set up LLCs with partners.