All Forum Posts by: Mike Fieselman

@Ben Rhodin Thanks for the welcome and the advice! I love the idea of house-hacking, but I've got 4 kids and we love our house and neighborhood. So we COULD do it, but I'm just not willing to do that. There are plenty of other options, so I'll have to go "bark up that tree", if you will.

As for leaving 5% in a deal? I'm totally fine with that, if the deal makes sense.

@Richard Updegrove Yes, I've talked to a few hard money lenders, and have even found one that'll finance the purchase price + rehab expenses (as long as it all comes in at under 70% ARV) which is nice. Still need to pay points and negative cash flow during rehab out of pocket, but that's relatively affordable. Unfortunately, the none of the deals that I've analyzed (yet!) in the Denver Metro area would cash flow as a LTR. I know they're out there though!

@Catie Lawrence, Nice to meet you and thanks for the welcome! My "real job" is at a manufacturing facility up in Arvada. Are your STR's in the metro area, and did you buy something that needed some rehab?

Thanks everybody for the warm welcome!

@Chris Freeburg, Why the BRRRR, and why out of state? 2 reasons:

1. That's mostly a function of having limited cash to put down. According to my math, if I can't force some equity and pull my original investment back out, it'll be decades before I can come close to replacing my current income (at least with long-term rentals). 

2. Home prices around here seem pretty high compared to the rents that I would expect to get. The ROI looks more attractive in other markets, but I do understand that having a team who lives there will be absolutely crucial to pull that off. Maybe it's just a perceived risk-aversion thing, but it seems that I can get the same net income with considerably less money down in somewhere like Memphis, TN or Columbus, OH.

I'm not opposed to investing locally, it just seems out of reach at the moment. If I found the right owner-carry, or had someone to partner with I'd be all for it. I do love the idea of STR's though, I've always wanted to have a few of those up in the mountains. I suppose that once I get to know more people and see what's worked for them, I'll have a little better direction.

Hi everybody! I'm Mike. I've been lurking here on the forums for a little while, and I suppose it's time to go ahead and introduce myself, officially.

I'm a newbie, 0 deals under my belt, and I am particularly interested in the BRRRR method. I guess that I've always been interested in real estate, and in the back of my mind I always thought I'd like to get into it, I just got distracted by the whole "go to college and get a good job" thing, which has got me good and burned out by now. Anyway, I recently realized that if I don't get moving on procuring investment properties that it'll never happen...

I'm a homeowner in the Denver metro area (Littleton/Morrison specifically), and after analyzing a few handfuls of properties I'm thinking that I'll probably start looking at markets outside of the Denver area for my first few deals. Wish me luck!