All Forum Posts by: Xavier Leal

@Xavier Leal Whenever you purchase property, be sure to get a good no-cost cost segregation estimate. This can help you increase your tax benefits and increase your cash-flow for rehabs or additional purchases. Have you done a study on the property you own in the north end of the Denver Metro area? That property could give you some extra capital to help with the crazy interest rates right now for a new purchase. As you begin your investment journey, tax strategy becomes more and more important. Getting estimates before you make that final purchase can give you a great idea about how much you can expect in benefits on a specific property. Let me know if I can help or answer any questions...I am in the Denver Metro area as well. 

Hi Xavier,

Welcome!  I am an investor/realtor living in the Pueblo market and I also service the Springs.  I mostly help with investment properties so please feel free to reach out. I am constantly watching multi-family and any property that has a finished basement with walkout to share with my clients. I am currently renovating a 4 plex down here in Pueblo which I would be happy to share what I've learned!  Let me know how I can help you - happy to send you videos or walk properties with you on video if you like.  Reach out anytime as Pueblo still cash flows nicely in a lot of cases.  

Cheers to your continued journey! 

Yvette 

@Xavier Leal no VA loan has PMI/MI or anything of that nature. You are certainly paying for HOME INSURANCE, which protects your home from physical damage, but if you are in a VA loan then you should not be paying for PRIVATE MORTGAGE INSURANCE.  "PMI" or "MI" is when people use certain loan types and don't have 20% downpayment.  They pay this little extra monthly charge in their payment ON TOP OF taxes and home insurance.  Us veterans don't have that if we used the VA loan.

Hope all of that makes sense.

@Xavier Leal Lots of great feedback already in this thread. Being a newer investor, would give house hacking a strong consideration. 

When I look at overall success rate for newer investors executing on strategies, house hacking has one of the highest conversions when compared to all of the other strategies out there (traditional rentals, wholesaling, flipping, brrrr, etc).  Simple to execute on and low (relatively speaking) capital to invest.

If you are a visual guy like me, here are some cool property walks BP did with some local house hackers in CO!

Welcome to BiggerPockets!

I’m active duty Air Force. 

I wish you all the best as you continue your investing journey.

 Totally! The COS area is a great investment ground, and I know a lot of people who do great down there. If you are up here in the area currently, have you considered your next investment as a househack? Especially in today's market, it's a great way to get in and for a low entry point compared to putting 20% down.

Hi Xavier, welcome to BiggerPockets! This is a great place to learn and to connect with people so take advantage of all the great resources.

Welcome to BP and back to Colorado Springs. My wife and I love in the Old North End. Absolutely love it. 

I will say it's tough to cash flow right now with a long term rental in Colorado Springs (or Denver or Boulder or a lot of places in Colorado). That's largely due to current interest rates in the 6s and 7s that make your payment considerably higher than it would have been a few years ago. 

That's not to discourage you from buying. If you think of real estate is a long term game, which I do and is what I tell all of our investor clients, then the appreciation of the property is where you'll make most of your money. Plus rents will confine to increase and even rates go down (though likely never below 4s in our lifetime), you can refinance. 

Or get a little creative with your rental strategy. Rent-by-the-room or medium term rentals can juice your rent numbers. (We have a few medium term rentals in Colorado Springs and Denver.)

Whatever you do, i wish you luck.

Hey @Xavier Leal! Colorado Springs is a great place to invest - I recommend connecting with @Ryan Thomson - he is an expert in the area and is absolutely killing it down there! He helps plenty of investors find the next property!

Best of luck!

Welcome aboard Xavier and best of luck investing!