All Forum Posts by: Robert Jordan

@clintharris I am interested in this STR concept. I currently have a couple SFH LTR's in the Denver metro which I purchased in 12' and 13'. They both cash flow nicely but I am sitting on a lot of equity. I am in the process of selling one of them as it was my primary up to 2 years ago (avoid capitol gains). I have been looking to reinvest the equity after the sale. My target areas are Summit or Eagle Counties, CO. Much like Carolina Beach they are tourist mecca's. The barrier to entry is 400k. I am looking at financing so I can pick up 3 or 4 properties if all falls in line. I had considered LTR's but the cash flow isn't there. Based on your experience where should I start? Data? Concerns? Advice? I greatly appreciate it.

I am looking for advice. I have currently have 2 SFH rentals that are both performing well. They cash flow 2k a month with over 600k in appreciation. I am looking to capitalize on the appreciation and scale my operation to multi-family. A few deals I have found. One is a $1.4 mill 7 unit property and the other is a 750k 3 unit. I have run the numbers and both will cash flow with 20% down and mid 5 interest rates (the larger property has a higher return). Ideally I would like to get a deal done without selling either of my SFH. I only have about 30k in cash on hand for a down payment. Should I focus on the tri-plex, or one like it, because a loan might be easier to obtain? Thoughts on HELOC for down payments? Thoughts on selling one of the SFH to get the down payment? I am pretty new to this so any advice is valuable.

Thank you for your response. I have been watching a few B and C class apartments in Aurora and can see value and cashflow potential. First I need to decide on the 1031 or HELOC route.

 Thank you for the information and the spreadsheets. Correct me if I am wrong but basically these are showing the best course of action would be to sell one of the properties and reinvest in multiple properties with the proceeds. Ideally I would like to keep both properties and continue to grow as others have suggested although any market correction at that point could be devastating. 

Unfortunately Denver is so overpriced at this time that I can't see a clear way to make cashflow on rentals. 

Thanks for the advice. I will look into the HELOC. Do you think Denver has hit the peak and a drop in values are coming?

I hadn't considered this option. I apologize as I am very new to this. Couple basic questions? 

So how exactly would that transaction work? Wouldn't I need a new loan under the LLC.

How does a "Paper second mortgage" work?

First post on BP. 

I am looking for advice on my current situation. I have two rental SFH properties in the downtown Denver area. Both properties have leases coming up in the Fall of 19'. The properties will have been rented for 5yrs and the other 2yrs. The 2yr property was my primary residence before turning it to a rental. According to estimates/taxes the value on each property is in the 650k range. Which means we have around 350k in equity on each property. Currently each property cashflows around 1k a month plus $500 in equity monthly. I am thinking of selling one of the properties (the 2yr rental to avoid capital gains) to realize the 350k and then scale up 2-3 properties a year until I can reach 10k a month in cash flow from buy and holds. The Denver market is very overpriced so would be looking at other markets to invest in. Possibly the Raleigh, NC area.

I am very new to this and am looking for advice on how to scale my operation. Suggestions? Advice?