All Forum Posts by: Stephen Spradley

Lots of good stuff here. I think I've decided on what I want to do. With all the studying I've been doing, I just feel like the best option would be a MF, but not house hacking since that pretty much seems impossible here and I don't want to live in Greeley. Essentially just going to save save save, start checking out every MF in the market to get a feel, and pull the trigger sometime this year utilizing a loan that doesn't require me to occupy.

If I were in your shoes I would not even consider that a factor, especially if the prospective tenant is under 30 years old and got charged when they were young. Everybody makes mistakes. Maybe its because I live in Colorado, but I think it is stupid to put a person in a cage for smoking a plant.

Try to use roughly 50% to acquire some MFs, then the other 50% to rehab them.

Yeah he is highly recommended. I'm going to reach out when I figure out exactly what it is I want. I also want to attend one of the classes when it doesnt intefere with work or school. Thanks!

Anybody got a good agent to recommend in the area? 

Hey guys,

A few days ago I posted about a plan I have to acquire a Duplex, rent out the other side and live cheaply. I received a lot of help from some local guys on the forum and it really got me going. The original plan was to try to get one by April when my apartment lease is up, but that is starting to seem a little unrealistic for a lot of reasons. I'm looking for a little bit of guidance as to where to go from here. 

Ignoring the fact that my lease is up in a few months (I don't mind extending), I wanted to home-hack a Multifamily. The market in my area (Fort Collins, CO) seems pretty hot, this was confirmed by a gentleman much smarter than myself in my other thread from the other night. A duplex here is about 350K-400K, and they are rare to find. If I were to use my VA loan from my primary bank, I only qualify for 200K on a good day (my bank is the only one I have inquired with though). I am not going to give up and just mope away with my tail between my legs, but I am wondering if maybe I should pursue a different avenue for the time being, like a live-in flip, or something like that. I am very new at the real estate game and only have not even a year of studying it as a hobby, so I wanted to get your guys ideas. I am willing to try anything really, and will enjoy the learning experience, but I also work full time and am a full time student so time is pretty constrained.

Thanks ahead of time for the help!

I'm in Fort Collins. As long as it doesn't coincide with school or work I would absolutely go. 

@Benjamin Wishart

I just spoke to my primary bank about how much I qualify for utilizing the VA loan. I would like to take you up on your offer if you could recommend any lenders I could use.

Thanks again for all the help guys, this place really is a god send. 

Phenomenal! Thanks for the help guys. Though the lease is up in April, I'm not opposed to shacking up with family for awhile if I have to, or even doing some type of lease extension to find a halfway decent deal. @James Orr I'm going to attend one of these get togethers and start treading the waters a little bit. On another note, what is a nomad in terms of real estate?

Hello all, I wanted to put my plan on the table for you guys and get some feedback and advice. I have never invested in real estate (let alone owned a home), and have really just been reading and researching for almost a year, as well as coming on these forums every now and then with questions. My apartment lease is up in April, and I am wanting to acquire a duplex and rent out the other part to hopefully live for much cheaper than my 1,000 dollar single bed and bath apartment that I am in now. I will most likely end up using my VA loan and going from there. In preperation, I plan on trying to see what I can get pre qualed for, so I know what price range I can work with. I have been using Zillow to look around for them but can only seem to find a few in my surrounding area (Fort Collins, CO) and they are ridiculously expensive compared to buddies I know in other areas who have gotten them, most being in the 350k-400k range. Essentially, what I'm getting at with this post is this... - Given my market, does this seem feesible to some of you more seasoned guys? - Any advice is always welcome - Any recommended resources to help educate myself? - Anybody have experience with the VA loan think it is a better choice than regular financing? I want to thank you guys ahead of time for any feedback or constructive criticism!