All Forum Posts by: Robin Huff

Hi Clark,

Cash flow in Denver is definitely not what it used to be but there are opportunities out there.  Another big thing to consider is the tax benefit of an investment property.  Depending on price point and condition of the property you may be ok looking to break even (while gaining equity in the home) since you will ultimately benefit by a few thousand dollars when it comes to tax time.  Feel free to reach out if you would like to discuss more!

Hey Samuel,

While I don't know the specifics of your particular market I would suggest looking into your local Airbnb rules and regulations.  For example; in Denver if you are purchasing a property as your primary residence you are able to register that property for short term rentals.  So if it is something similar in your area you could purchase your first property and rent it out on a weekly (give or take) basis while you are out of town.  This would likely pay for a good percentage of your mortgage on a yearly basis.  Allowing you to save on your out of pocket living expenses to start saving for the next property.  I would focus on areas with good walkability or local attractions.  

I would look for someone wanting to bring someone on in an internship or assistant role.  That way you are providing them will value will seeing the day to day activities, learning the language, etc.  Also a great way to ensure you enjoy the work and the industry!

Hi Shalaye,

First off its great to see how much thought you have put into this decision.  I think my initial question would be if you are cash flow positive on this as a 3/1 and could put the additional funds into another investment that would also cash flow is this ultimately a better scenario?  In addition to month over month income you would be gaining equity on two properties vs. one?  

Hey Nicholas,

As someone who got into real estate as a second career I did not dive in head first on my own.  Prior to becoming a solo agent I worked for a top producing agent at a well known brokerage for almost 3 years.  By doing so I was involved in over 200 transaction in a short period which allowed me to gain more knowledge and confidence than I would have on my own.  In my market the average agent does 3 deals a year so you can imagine how long it would have taken to experience everything I did in that role.  While it may not be as glamorous to start, even 1-2 years could provide you with a ton of knowledge to set you up to be even more successful on your own.

Best of luck!

Kim - The MLS is the holy grail of comps. While zillow will give you accurate prices of recently sold or available listings the "zestimates" can be up to 20% in either direction. Speaking with a local realtor will be a great step as they can provide you with comps as well as give you more of insight to market conditions

Hi Stefan,

While becoming an agent will be a great start to accomplishing many goals I think taking the time to get a degree can also be exceptionally beneficial.  Regardless if you are solely an investor or do decide to become an agent you are essentially running a business which requires book keeping, expense tracking, marketing and countless other tasks that I am certain a degree could help to build the framework for.  I also completely agree with what Ryan said as well.  Finding a mentor can be a great way to get feet on the ground real estate experience and build your confidence for when you are ready to tackle the industry on your own.  

Best of luck!

Hi Allie,

I'd love to hear how this goes.  Have you done any of these before?  

I'm considering doing something similar in my market but would love to hear your experience. 

A lot of markets are experiencing tight inventory and on both sales and rentals.  Buying into a multifamily property so long as the numbers are correct I think will always be one of the best ways to get into real estate investing.  Market data will shift week to week, generally only slightly over short periods of times.  Factoring in any major repairs needed and potentially vacancy rates will help you plan for any slight shifts in market trends.

Finding properties that are turn key for mid-long term rentals.  It may only break even on a monthly basis with rate being higher and rents having stabilized but the long term equity gains will be a win in the long run.