All Forum Posts by: Stuart Grazier

@Ramiro De Leon Welcome to BP and great choice on looking in Denver! The best advice I can give is to choose a Realtor and Lender that are familiar with the local area and have worked with other investors and are investors themselves. You'll want to get prequalified and know exactly what you can afford because the market is super competitive and you'll need to be ready to make offers quickly once you find something you like. Happy to help if you'd like. Cheers! 

@Cody Stevenson It may be worth looking at what a refinance would do for your numbers on your Denver house. If you keep it and can get a lower interest rate in today's market, this is a great hedge against inflation and you are holding onto an asset that is appreciating and potentially cash flowing with the rents being higher than your new, low-interest fixed rate mortgage and other expenses. A friend of mine once told me that the biggest regret he ever made in real estate was selling. The path to wealth is to buy and hold; let someone else pay your mortgage for you!

@Tanner Pile I just sent you a message and happy to help with this. I think the lender just needs to know that the condo will be an "investment" property and the triplex will be your "primary" residence. You may need to get a future lease in place for your condo to have proof that it is going to be a rental property. 

@Russ McKelvey Lets connect! I'm in Parker and would love to help in any way I can.

Hey @Brynn Fabian! Welcome to the BP Community! Colorado is AWESOME, isn't it! Shhhh...don't tell anyone; let's keep it a secret! :) 

@Jay Gil All of those suburbs are great, but I'm definitely partial to Douglas County (Highlands Ranch, Parker, Castle Pines, Castle Rock) for their schools and how the county runs their programs. 

@Jamie Salyer Rates are so low right now that it may be worth refinancing, even if you can't get the full 75% LTV, and then try renting by the room and/or renting as a short term rental (if that area allows it), or to mid-term tenants (30-90 days) to get more rent per month than the average long-term tenant would pay. It may be better than continuing to make those expensive hard-money payments.

@Kris Johnson That's awesome! Congrats! I think you are right on target: buy small multifamily in Colorado Springs that you can rent out to long term tenants, or short term if the location allows for it. I'd recommend connecting with an investor friendly Realtor in the area who knows the ins and outs of the market and learn by doing - take action and buy your first property! Happy to help in any way I can. 

@Yen Chian tan Thank you for your service. A great benefit is that VA loan! I highly recommend trying to buy a 2-4 unit property using your VA loan and then rent out the other units to pay your mortgage and hopefully make some positive cash flow at the same time!

@Brock Fica Best piece of advice I wish I would have recieved when I was your age: use your VA loan to buy a house with zero money out of pocket and then rent out all of the other rooms and/or units (you can buy up to a 4-plex if you can qualify) to your buddies, which will basically provide you with free housing and probably make some money along the way. Start now while you are in the Springs; it's a great market for it! Then once you leave, turn it over to a property management company and keep it as a rental for long term wealth building.