All Forum Posts by: Ryan Thomson

#1 House Hacking ContributorPosted January 29, 2024 13:27

Real Estate Agent
Colorado Springs, CO
Posts 1,442
Votes 1,337

@Hyeseong Park the FHA 203k loan allows you to get a loan for both the purchase price and the remodel. Its a little more complicated as you have to have a plan for what work will be done and you have to find a contractor willing to do this work under the payment distribution plan of the FHA 203k loan which will release money according to progress reports.

Also, in order to qualify for the loan the appraised value of the after repair home must be equal to or above the loan for the home and the remodel.

Great way to buy a fixer upper house hack, but certainly comes with some extra challenges!

1 Vote

House Hacking

Post: Finding high quality tenants for house hacking

#1 House Hacking ContributorPosted January 29, 2024 13:23

Real Estate Agent
Colorado Springs, CO
Posts 1,442
Votes 1,337

@Shaun BeckI have had great success finding tenants for my house hacks in Colorado Springs using the following platforms:

Facebook
Craigslist
Apartments.com
Zillow
Roomster
Roommate.com

1 Vote

Chicago, Illinois

Post: Real Estate Investor & House Hacker Meetup

#1 House Hacking ContributorPosted January 16, 2024 11:22

Real Estate Agent
Colorado Springs, CO
Posts 1,442
Votes 1,337

Meetup in Colorado Springs next week! It's at Goat Patch Brewery. Hope to see you there.

0 Votes

Post: Real Estate Investor & House Hacker Meetup

#1 House Hacking ContributorPosted January 16, 2024 11:22

Real Estate Agent
Colorado Springs, CO
Posts 1,442
Votes 1,337

Hi BP Community!

Are you interested in joining a community of local, like-minded real estate investors designed to learn and grow together? If so, then we welcome you to join us for our meetup centered around creating community and sharing experiences related to Real Estate investing and House Hacking in the Colorado Springs area.

Meetup Topic and Speaker: Lexi Rzepiennik, a true Colorado native, house hacker, and Short-Term Rental (STR) designer. Lexi's passion lies in transforming ordinary spaces into extraordinary experiences. Navigating the world of Short-Term Rentals can be overwhelming, but Lexi has mastered the art. Drawing from her experience working with numerous investors and managing multiple units of her own, she has honed the skill of cultivating spaces that guests love to share. Lexi is excited to share her insights and expertise, ready to help you dream up and bring to life your next STR project.

See you all at Goat Patch Brewing!

Meetup Link:https://www.meetup.com/house-hacker-mafia-real-estate-invest...

0 Votes

Classifieds

Post: Off Market Opportunity: Colorado Springs

#1 House Hacking ContributorPosted January 04, 2024 21:59

Real Estate Agent
Colorado Springs, CO
Posts 1,442
Votes 1,337

@Jamie Chillingworth I have a couple clients who would be interested too. Please send to [email protected]

0 Votes

Post: Real Estate Investor & House Hacker Meetup

#1 House Hacking ContributorPosted January 02, 2024 13:27

Real Estate Agent
Colorado Springs, CO
Posts 1,442
Votes 1,337

Meetup in Colorado Springs next week! It's at Goat Patch Brewery. Hope to see you there.

0 Votes

Post: Real Estate Investor & House Hacker Meetup

#1 House Hacking ContributorPosted January 02, 2024 13:26

Real Estate Agent
Colorado Springs, CO
Posts 1,442
Votes 1,337

Hi BP Community!

Meetup Topic and Speaker: This week we will have Dan Sheeks. A Denver-based high school Business/Marketing teacher, real estate investor, and the published author of "First to a Million." Alongside his wife, Dan manages a diverse portfolio of real estate investments, spanning multifamily, single-family, Airbnb, and out-of-state BRRRRs. As the founder of SheeksFreaks, an online community tailored for motivated young individuals (ages 15-25), Dan passionately explores wealth-building, entrepreneurship, real estate investing, mindset, early financial independence, and networking.

Meetup Link:https://www.meetup.com/house-hacker-mafia-real-estate-invest...

See you all at Goat Patch Brewing!

1 Vote

House Hacking

Post: Why prices are not falling and why they probably won't (Colorado Springs edition)

#1 House Hacking ContributorPosted December 18, 2023 11:58

Real Estate Agent
Colorado Springs, CO
Posts 1,442
Votes 1,337

Quote from @Carlos Ptriawan:

Quote from @Ryan Thomson:

Here is an awesome article written by a local and well respected economist for the Colorado Springs Gazette. It's worth a read to understand why prices are not falling and why they probably won't.

Don't let interest rates keep you from buying if you can afford it. If they go down prices will shoot up. Plus, you can refinance if they go down! I have lenders offering point buydowns and free refinances in the future.

And if rates go up? You'll feel like a genius for buying now.

What are you waiting for?

For prices to fall with such low inventory? Unlikely.
For interest rates to go down? Demand and prices will increase. You'll buy the same house for a higher price and your monthly payment will be the same.

Here are some highlights from the article: High interest rates contributing to chronic housing shortage | Tatiana Bailey

During the Great Recession, our region significantly underbuilt, which is one of the primary reasons we have a standing housing shortage today. Only during 2021 and 2022 did we reach the ideal number of permits, but that’s largely due to the pandemic-related, historically low interest rates

If we look at building patterns this year through September, we’ve only built out 5,400 dwelling units, so we will again fall short of the ideal number of permits this year. Logically, many would-be buyers are back on the sidelines because of the high interest rates, and builders aren’t going to build homes until that demand comes back.

If you don't follow Tatiana Bailey and her team its well worth it.

Currently there's only single family metro that went down since 2022 peak and that's Austin.

Reason: oversupply.

So if your market is still having 3 DOM, well price swould still go up lol

Supply and demand...

0 Votes

House Hacking

Post: Why prices are not falling and why they probably won't (Colorado Springs edition)

#1 House Hacking ContributorPosted December 18, 2023 11:58

Real Estate Agent
Colorado Springs, CO
Posts 1,442
Votes 1,337

Quote from @Derek Brickley:

Yep!! Not every market but we are seeing a lot of the same.

Thanks for sharing!

1 Vote