All Forum Posts by: Ryan Robirds

@John Robison IV My rental is doing great and increased rent in line with the area and not being greedy. If you are serious about buying I would talk with a lender, they can give you the best options for your situation. I ended up doing conventional (non-FHA) and it worked out great. I've been watching the appreciation and collecting rent ever since. If you need a lender I can refer one, they do their underwriting in house and it's really quick and hassle free. Your only problem now is houses are approaching 220k-250k price point, at least in my area. I don't know many places more affordable than that anymore for SFH.

I like that neighborhood a lot.  The Cliff May homes are really cool and people have been flipping them the past few years with varied success.  Some of them don't turn out as well as others.  I tried to pick one up 2-3 years ago but they were at the top of the market for that area and I didn't see the value back then.  Whoops!  The good thing about that neighborhood is that it's still up and coming.  A lot of difference street by street over there, I think you can do well with appreciation.  

Congrats!  Sounds like all that work will pay off well for you.

Thanks @Bryan O.!

Morning!  Can anyone recommend a good handyman in the Denver area?  My rental has a few leaks from a poorly done flip at the hose bib on an enclosed patio and under the sink from the spray hose and garbage disposal.  I'd go fix them myself but I'm out of town working the next two weeks.  I'd rather not call a plumbing company since they are simple fixes.  I've been charged $350 before to swap a bath faucet by the big guys, so hoping somebody has a good recommendation.  The house is in the 80219 zip.  Thanks!

Maybe I missed something here but you will either need to put around 20% down if you keep the tenants or kick one out and cut your rental income in half if you plan on putting 3.5% down for an FHA loan and living in one unit. If you put 20% down and keep it rented you might make a couple hundred a month depending on flood insurance. If you put less down and plan on living in it, it's still going to cost you 4-500/month because 700ish rent isn't going to cover much.

Yeah that sounds like a stretch.  You could always take an early distribution from your retirement and pay the 10% penalty if the deal is worth it, but how long would it take you to recover the $2.5k penalty?  Also, what kind of rent do you expect?  I don't know what area of Denver this is in but getting $4k+ in rents for a 2/1 and a 1/1 seems high.

Congrats @Linda Weygant!  I bet it feels good to still find deals that cashflow in this market!

I completely agree with @Tyson Taylor it all depends on the material and if the asbestos is friable or not.  Abatement can be as simple as removing concrete asbestos siding, or a huge pain in the *** if you are dealing with asbestos floor tile and mastic.  Definitely do your research, some is worse than others.  One of my properties has concrete asbestos tile siding and it's perfectly fine.  Just make sure you have an addendum to your lease with a disclosure just like you would for lead paint.

Why not refi or HELOC and keep the property? You would get some of that appreciation out to invest in more properties.