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All Forum Posts by: Nicolas Bowers

Nicolas Bowers has started 4 posts and replied 10 times.


I am selling a turn key property for cash. Should net around $110k. I am interested in doing a BRRRR but I am also considering buying 2 turn key "Subject To" deals. Would purchasing a two properties creatively "count" toward the 1031 exchange funds I need to deploy? Thank you

Quote from @Tom Rietkerk:

I'm wrestling with selling my 4 bedroom SFR (N Las Vegas) or keeping as a rental. I've had a great run but long term tenant cannot afford market rate and really needs to move into something smaller. Either way, my property manager will be leading rehab this late spring to get it ready for sale/rent. Bought the house brand new in 1994 for $116K and financed with a $1 down VA loan!

Tom, If you are still looking to rent that property. PadSplit might be a great option. Vegas is opperating at 100% occupancy with really good rental rates. (Rent by the room model) more than happy to talk about it. I own two and wish I would have bought in Vegas now 

The company PadSplit is hosting a mixer on Tuesday June 7th at 6:30 pm at "Yard House" on Las Vegas Blvd. PadSplit is celebrating the launch of Las Vegas on their platform. This will be great place to network and learn ore about unique investment strategies. There will be local investors who are converting their current SFR to a shared housing model (PadSplit) that produces 2-3x income. The event is free for investors and people interested in REI in general!

Post: Best way to start investing

Nicolas BowersPosted
  • Posts 10
  • Votes 4

Curious what might be a better option for growing or stacking investment properties. 

1) Buying under value in a warm market, doing minor fixes and refinancing your money out to reinvest. Hopefully the property appraises higher. Holding the property for rental and cash flow. Repeating. Would have been easier to just write "BRRRR"

2) Purchasing a multi family, saving and using the cash flow/OPM for future purchase.. 

It seems like having two properties would be a better start for cash flow but I wonder how hard taking the next step toward growing a portfolio would be. 

Thank you for your responses and time! 

-Nick Bowers  

Originally posted by @Chris Freeburg:

@Nicolas Bowers Even though Colorado Springs has gotten more expensive, our market data shows no signs of slowing down. The Front Range population is expected to double by 2050. Right now, we have less than 2 weeks of inventory.

Maybe you can get into other market for less, but will you experience the same appreciation as here in CO? Do you want more to be more hands-on with your investments? 5 years from now will you again be wishing you had purchased property here? Just some questions for you to consider as you begin the REI journey.

Here's another thought: Have you heard of NOMADing? You turn your current SFH into a rental when you buy a new home. For investors with families, it's a great way to take advantage of the low down payment, low interest rate, owner-occupied home loans.

I have not heard of NOMADing, I do enjoy the thought of renting our current SFH. The issue I have is paying such an inflated price for a new SFH in the springs. We are working with a cash out refi (potenially) that would limit our choices here. Moving a family of 4 sounds daunting BUT I do like the idea of it. I'm focusing on TK with the thought of building a portfolio out of state, I don't have a team in place so I like the idea of a well established company with the track record of Rent to Retirement. Hearing the growth numbers of the springs and Colorado is incredible though. We have military, a desirable place to live and great schools. What a recipe for growth!

Originally posted by @Zach Lemaster:

@Nicolas Bowers

I also forgot to mention that I personally own property in CO Springs, so I'm happy to answer any questions you have about investing in that area.  Numbers are tight though for sure, but likely strong appreciation for many years.  More affordable than Denver!

I have a couple of friends who recently invested in the springs, wish I would have bought 5 properties 5 years ago here when we bought our first house! Always on the look out for multi family/duplex around here. Incredible the building they are doing around our area, its non stop!  

dOriginally posted by @Chad Rocke:

Hey @Nicolas Bowers!

Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?

1.Subscribe to the BiggerPockets Money and Rookie Podcasts

2.Attend the FREE WEBINARS

3.Attend a Meetup in Your Area / virtual meet ups

4.Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy

5.Peruse the forums! Ask questions! Answer Questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!

Good luck,

Absolutely! obsessed with learning as much as I can. 

Read: Rich dad Poor Dad, Millionaire Fast lane, Bluefishing, David Greene's BRRRR

I frequent a ton of podcasts from BP, the amount of content is amazing and feedback on this forum is outstanding. 

Ill get those books and focus on meet ups next 

Originally posted by @Taylor L.:

Both of these strategies work when done correctly. They do produce different results. The most important factor in deciding between the two is you. Does one fit your goals, skills, and assets better than the other?

We have two year old twins and I'm self employed, so time is limited to say the least! My idea is to start slow and build a portfolio until our kids go to school and I can be more hands on. 

Originally posted by @Zach Lemaster:

@Nicolas Bowers

One thing you might want to explore is TK new builds in FL that have immediate equity you can likely refi the majority of capital back out to reinvest.  This is a slightly different take on the whole brrr model (Build, rent, refi, redo).  I think this is a great option to be able to get into a brand new build, in an A class area that has strong appreciation, cash flow & immediate equity.  We are doing a ton of these with our clients every month.  Feel free to reach out with any questions you have.

Thank you for the info, Im hesitant with TK, I've always wanted to control business situations but I understand that isn't ideal with investing, especially when new. I love the idea of starting turn key, Refi'ing to invest in more properties throughout the process. I also want to learn as much as I can about real estate investing while I'm actively investing. What area of Fla are they in and is there a wait on the new builds? 

* Living in Colorado Springs were the market is red hot. We sold our first house made good equity and rolled it into another house and have built solid equity. Been digging into real estate investing through podcasts and books but I need to take action.  

Thinking of starting "Turn Key" out of state (maybe midwest), heard great things about Rent to Retirement also looking into Morris Invest. 

Thinking also about doing a BRRRR in state (if I can find a good deal) or in ATL. I have connections to contractors and property management in both states. Georgia seems to be heating up like Colorado was 4 years ago. This is my first post on here and hoping to find people who have been through the process. Thank you for your time! Im excited to dig in and get started. \