All Forum Posts by: Colin Smith

Colorado Springs Real Estate Investor Association - Join Colin Smith, Brent Bowers, and Dan Haberkost at Third Space Coffee on the 1st Tuesday of every month at 6:30 PM. 

Here is what to expect:

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

https://www.youtube.com/watch?v=Du053K5nes4 (Frequency has changed since the creation of this video)

Start Date: Tuesday, August 3rd, 2021

Start Time: 6:30 PM

Location: Third Space Coffee

Cost: ANY PURCHASE FROM THIRD SPACE COFFEE

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties, and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Brent Bowers – Bought my first buy and hold April 2007 and have been wholesaling homes since 2013. I wholesaled 32 properties in 2017 all while working a full-time job as an Army officer by building a team. I have buy and hold real estate investments, whole-taled properties, and have flipped homes to maximize profit while minimizing the amount of rehab required.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!

Hey @Mora Clark - I will shot them in a PM in just a minute.

Join Colin Smith, Brent Bowers, and Dan Haberkost at 2708 E Fountain Blvd on the 1st Tuesday of every month at 6:30 PM.

Here is what to expect:

https://www.youtube.com/watch?v=Du053K5nes4 (Location and Frequency has changed since the creation of this video)

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

Start Date: Tuesday, July 6th

Start Time: 6:30 PM

Location: 2708 E Fountain Blvd, Colorado Springs, CO 80910

Cost: FREE!

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties, and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Brent Bowers – Bought my first buy and hold April 2007 and have been wholesaling homes since 2013. I wholesaled 32 properties in 2017 all while working a full-time job as an Army officer by building a team. I have buy and hold real estate investments, whole-taled properties, and have flipped homes to maximize profit while minimizing the amount of rehab required.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!

@Frank Calderaro - I'll shoot you the list in a PM.

Hey Joe,

Sorry for miscommunication. I meant "move" as in a sales term in moving product. You are right, smaller the house the easier to move. A Park Model or small Single Wide still requires a moving company as they are too heavy for a 1 ton truck. 

I wouldn't use the amount of people going to a festival as a metric for making big decision. I would consider Supply versus Demand. If there was a large demand for tiny homes you would see lots with hundreds of them sitting there like a car or RV parking lot. Instead, there is a handful of companies building them across the state. Compare that to the construction industry pumping out thousands of new homes and yet the supply is so low, at least in Colorado Springs, that if you're lucky enough to get a parcel under contract today you won't be closing for another 10-12 months. That is an incredible demand for an already large industry. 

If the tiny home industry had similar demand then you would see similar production of these. Given the relative ease of getting into the industry, these companies could pop up quickly. While this isn't my niche so I don't focus my energy here and my statement might be naive for all I know. At the same time, I just don't see new companies setting up shop on a regular basis to build and sell these tiny homes. Not to mention the countless Sellers who've ask me to help them as they've had zero luck on the resale of their tiny home. 

Building your own tiny home is an impressive accomplishment. You clearly have a passion for tiny homes which is great! I would only caution you if you intend to invest a lot of cash into these to get more opinions. More than just mine, and a wide variety from those who have been in the industry (not the guy trying to sell you one) and those who are familiar with it as well. I've seen plenty of people who invested all their cash into something they are passionate about only to find there was not enough demand for their product to make a business model out of it. 

Colin

Hey Joe,

While a few people like tiny homes most people like have more square footage. Tiny Home are really a step down from "Park Model" single wide homes which is a step down from single wides in themselves. None of these are financeable. If you get a double wide on a foundation or properly ties down then with owned land then you can start looking at financing. To think tiny home will ever have financing available would be a long shot as its barely available or single wides in unconventional lending arenas.

Considering I own a mobile home park, I personally do not want to see tiny homes in there. They are less desirable and harder to move. I would much prefer to maximize the square footage of the home sitting in the pad in order to appeal to larger pool of interested parties (Buyers or Tenants).

As far as an improvement to life being to live in a tiny home? That is a personal opinion. I would much prefer the condo option and accept the cost of living to what it is. 

At the end of the day, this is just my personal opinion.

I hate to be in opposition here but I have talked to dozens of Sellers trying to sell tiny homes and struggling to find anyone interested in buying them. I think in the right niche they could be quite effective with the understanding they have little to no resale value.

Colorado Springs Real Estate Investor Association - Join Colin Smith, Brent Bowers, and Dan Haberkost at 2708 E Fountain Blvd on the 1st Tuesday of every month at 6:30 PM. PLEASE NOTE STARTING IN JUNE WE WILL BE MEETING THE 1ST TUESDAY OF THE MONTH ONLY.

Here is what to expect:

A time to learn from experienced investors or guest speakers, share wholesale deals, and network with other investors.

THIS MEETING: Bonnie Kaake is a CPA who specialized in helping investors with cost segregation on their investment properties. This is not a speaker you want to miss! 

Start Date: Tuesday, June 1st, 2021

Start Time: 6:30 PM

Location: 2708 E Fountain Blvd, Colorado Springs, CO 80910

Cost: FREE!

Meet The Hosts:

Colin Smith - Investing since 2012 and licensed Realtor since 2014. My niche as a Realtor has been working with Investors in the buy, sell, and management of their investments. I've flipped homes, own and professionally manage rental properties, and been a hard money lender. My goal is to find deals and match them with investors who are ready to jump on the opportunity, problem solve real estate deals, and grow a portfolio. I personally feel the buy and hold strategy is the ultimate wealth building tool. I personally own 45 residential doors and / or mobile home pads plus a commercial building across the Colorado Springs area working towards building financial independence.

Brent Bowers – Bought my first buy and hold April 2007 and have been wholesaling homes since 2013. I wholesaled 32 properties in 2017 all while working a full-time job as an Army officer by building a team. I have buy and hold real estate investments, whole-taled properties, and have flipped homes to maximize profit while minimizing the amount of rehab required.

Dan Haberkost – I discovered real estate investing while I was finishing college and purchased my first house hack before graduating. Currently, I work for myself managing my portfolio of rental properties, developing single family/small multi family homes and buying/selling land on notes. It's amazing how quickly I've been able to create complete freedom over my time through RE investing and I'm happy to help others do the same any way I can!

SEE YOU THERE!

I have a 4-plex, 19 unit, and a mobile home park in Knob Hill. To say the least, I am all in on this area. It is still very transitional but I've been seeing many properties getting turned and flipped in this area to include these three that I am turning over personally. The property values are overall still lower compared to other neighborhoods of equal distance to the downtown. This is all speculation at the end of the day as to which neighborhoods do better than other at the end of the day, but I have a great gut feeling on it.

@Stephen Karagosian

Hey @Account Closed, I would recommend checking out the Knob Hill area. I personally have 38 units in that neighborhood with strong confidence of that area going up in value more so than other parts of town given its proximity to downtown Colorado Springs and its price point relative to other neighborhoods. As you drive mourned it you'll see quite a few dumpsters indicating properties getting flipped or the fresh coats of paint/stucco in grey color indicating they've already been flipped in the last 5 years. That being said, it's all speculation at the end of the day and its hard to go wrong investing in any part of Colorado Springs as it comes to appreciation. You could also consider neighborhoods around US24 and its intersections with Union and Circle. There is quite a bit of development going on down there that will bring the neighborhood up to include revitalization of old buildings that have been vacant for over a decade, ~345 unit luxury apartment complex, new homes and townhomes, and more.