All Forum Posts by: Neil DiMuccio

@Brandon Sturgill - thanks so much! 

Newbie question - is there any sort of list or way to find which cities have more multi-family properties? I'm currently just trying to learn more about my local market, but also nationally as well, and finding such information would be helpful to my decision if I should invest locally or farther away. 

I'm finding there's often a small bit of inventory for multifamily on the market in any medium-or-larger city, but wanting to see which cities might have higher (relative) supplies of multifamily properties, in case I get in and decide I want to expand in that area.

Sometimes it feels like it's only SFR's out there!

Hey there! I'm new to BP and new to REI in general. I'm still a renter and looking to first-time homebuy (or house hack) in the next 6-12 months.

I'm noticing that as I scan Zillow for properties, I'm unsure what I should be expecting for annual costs of a property (I say annual because thinking in terms of monthly it is easier for me to leave out some bigger occasional costs that may crop up). So far I've been thinking about Mortgage + HOA (if any) + occasional repairs.

I'm wondering - how can I get my cost (and income) numbers truly dialed in so I can have a very clear picture of potential cash flow? What kinds (categories) of costs do you forecast, and how do you get your numbers?

Thanks!

Thank you, everyone, for the warm welcome and the resources!

@James Free - funny you should say so, because I definitely left my heart in Fort Collins and am hoping my RE journey will take me back up to that area! Would you be interested in talking about the FoCo market? 

@Jing Hoyer - thank you for your warm reply - good to hear C Springs is growing! I used to be sort-of anti-development (and I still am anti-sprawl), but almost anything is better than the stagnant San Francisco-ization of places like over-regulated Boulder. I'd be interested to connect next time I'm down in the Springs, if you are open to it. I'd be interested to learn more about what types of multifamily properties you are looking at.

I also have a (possibly silly) newbie question for anyone who might see this: how do I not get too attached to specific properties and outcomes?

Right now (when I'm just learning and diving into real estate), I'm finding myself seeing a property on Zillow, thinking, "Huh, it sure would be nice to own that and lower our monthly expenses and be building equity rather than setting fire to a large pile of money every month as a renter." But, we're probably still 6-12 months away from having our ducks in a row in terms of general RE knowledge, being pre-approved, and potentially having to rethink our transportation strategy (right now we're car-less and rely on transit, bikes, walking, and the occasional car-share). 

Hello BP Community!

My name is Neil and I picked up Brandon's "The Book on Rental Property Investing" yesterday from the bookstore, which is how I learned about this community. I thought I'd drop by and say hello as I begin my RE journey. I'm currently interested in buy-and-hold rental investing and house hacking, but am open to any and all strategies and approaches. 

I have previously dabbled in stocks using IRA accounts (ultimately landing on being an index, buy-and-hold type investor), as well as peer-to-peer loans also in IRA accounts through Lendingclub.com (where I have beat my stock returns and used less risk to do so).

More fun and possibly random facts about me:

-Age: 34

-From: Colorado Springs (age 1-18), Fort Collins (age 19-25), Boulder (age 27-34). I like Northern Colorado / college towns quite a bit due to cultural activites, cycling, and laid back lifestyle.

-Profession: Lots of customer service, but I'm eager to see if RE suits me. I'm currently between positions and learning more about home maintenance and repair

-Religion: Unitarian Universalist 

-Spouse: unmarried, but have a very loving and supportive girlfriend of 4.5 years

-Pets: I have a very sweet cat named Maple

-Hobbies: I like hiking, biking, listening to music, playing games (board & video), and reading / learning

-Location: Boulder is a nice town but due to the supply of housing being (intentionally) broken, it is REALLY daunting for a non-wealthy person to think about starting a real estate journey here...    it is hard to find a small 1 bedroom apartment for under 200-250k, and most detached homes are 600k+ (unless you qualify for affordable housing, in which case you have to jump through a lot of hoops and seemingly get lucky to secure property in town). Not sure I'll stay in Boulder forever, though the appreciation of price (and rent) is pretty killer if you can get in here. 

-Goals: In addition to learning more about RE in general, I'm exploring the possibility of buying a property with one or more friends (outside of Boulder) to start up a little co-living community. There's a lot of moving pieces to such a thing, and lots of different ways it could end up not working. But still, the thought of creating such a space is inspiring

I'm aiming to be somewhat of a lurker / frequent user of the forums, so please don't hesitate to say hello, especially if you're in my area or are interested in anything I've said so far!

Cheers,

Neil