All Forum Posts by: Ryan Thomson

@Kyle Herling we are going to meet every 1st and 3rd Thursday at Oscar Blues 630-830 (ask the hostess where the real estate meet up group is). 

The first Thursday is going to be informal and hanging out.

The 3rd Thursday is going to have a speaker and a chance to hang out and network. 

@Kyle Herling come join us at the meet up! I've done three house hacks here in the Springs and am happy to help in any way I can. 

I'm a big fan of house hacking and what it has done for me.

I think thinking through exit plans is very important as it sounds like you may want to scale and move to the next property in a year. Multifamilies are great, but sometimes they are more expensive and harder to find. Being creative with SFH can also be lucrative. Bedroom rentals are a little more work to manage but are a great exit plan. You could buy near a college area and rent to student groups. Other criteria I look for in a SFH house hack: an easy way to split into multiple units, a walk out basement, an ADU, a garage I could convert, or lots of bedrooms.

For resources I really like the following House Hacking episodes on Bigger Pockets Podcast: #352, #252, #350, and #249. Also Craig Curelop's book on House Hacking is also a great resource.

@Nicholas Carr I'm a big fan of house hacking and what it has done for me. 

I think thinking through exit plans is very important as it sounds like you may want to scale and move to the next property in a year. Multifamilies are great, but sometimes they are more expensive and harder to find. Being creative with SFH can also be lucrative. Bedroom rentals are a little more work to manage but are a great exit plan. You could buy near a college area and rent to student groups. Other criteria I look for in a SFH house hack: an easy way to split into multiple units, a walk out basement, an ADU, a garage I could convert, or lots of bedrooms.

For resources I really like the following House Hacking episodes on Bigger Pockets Podcast: #352, #252, #350, and #249. Also Craig Curelop's book on House Hacking is also a great resource.

@Rob Meyer i've done a couple house hacks in Colorado Springs. I'm originally from Katy, Texas. Happy to help if you have any questions. 

@Mark DiRenzo happy to share!

@Zack Schlund man I wish I was thinking like you at your age. Let me know if you have any questions. Buying near the college is a great exit plan to do student rentals when you move out. Plus you'll know people so finding groups will be pretty easy for the first couple years. 

@Taylor Celestin If you wanna go a little further to the mountains. Colorado has lots of great STR options. I have a couple successful ones in Colorado Springs. I'm looking for partners.

@Account Closed you could refinance again into a conventional loan. Then you should be able to use your VA loan again no matter how far away it is right? I might try to find a second lender opinion and see if that is an option.

The most that many lenders will let you cash out for is 80% LTV. So at 365k appraisal you could get a 292k loan, allowing you to take out 292k minus whatever you still own on the house. Probably 35k ish would be my estimate. But is that enough to buy another property as an investment?

Jess I had a similar epiphany a couple years ago. I'm excited for you. House Hacking is a great way to get started. 

If multifamilies were too pricey you could look at house hacking a SFH. Criteria I look for in a SFH house hack: an easy way to split into multiple units, a walk out basement, an ADU, a garage I could convert, or lots of bedrooms.

For resources I really like the following House Hacking episodes on Bigger Pockets Podcast: #352, #252, #350, and #249. Also Craig Curelop's book on House Hacking is also a great resource.

Yeah it is! Love that community.