All Forum Posts by: Stuart Grazier

@Grayson Lynum I'd love to learn more about your idea of low cost modular home development. I think there is tons of opportunity if you can get the land at the right price and then do low cost construction! I think the cost of materials and labor are the biggest challenge right now, but if you can find a way around those two items, I say go for it! Then teach me! 

Thanks @Doug Spence! Those are all great questions to ask! 

@Adam Parker As low as the rates have been, I'd take advantage of the long term debt and do a cash-out refinance and take the cash and invest into some more cash flowing rental properties, or maybe invest into a syndication or private lending if you want to be more passive. 

Love it @Kamaldeen Fagbayi You won't get anywhere if you don't take action! 

@Yuri Woitscheck Be careful with choosing the short term rental option in Denver. Unless the rules have just recently changed within the last couple of months, my understanding is that most of the city does not allow STR's unless it is your primary residence that you currently live in and you are allowing them to rent out a room, or basement, or unit (if it's a 2-4 unit), ie the house-hacking strategy. I could be wrong, but I believe there are very few areas within the Denver metro that actually allow STRs at all. I recommend double checking into that before you choose to go that route.

I'll echo what most others have already said about running the numbers, but from my experience most single family homes in Denver don't have positive cash flow as a long term rental property because the rents don't come close to covering the expenses, unless you purchased it a long time ago before Denver became so expensive, which may be the case for you. 

Just to play devils advocate - It may be worth looking at taking the tax advantage of living in the house and not taking any capital gains tax when selling and capitalize on the current crazy market and go buy some better cash flowing assets in areas less expensive with better rent to purchase ratios. You could probably purchase multiple properties in the midwest that cashflow WAY better than your one Denver property. Just a thought...

@Trevor Ruser I personally tend to try and stay away from big banks. From my experience I've seen that you get treated like just another cog in the wheel and end up having poor customer experience, delayed closings, and lots of challenges along the way. There are tons of different programs out there for down payment assistance and lender credit; I'd shop around a bit before you decide to go with a big bank.  

@Roderick Jamieson Such a great strategy to build wealth!

@Jason Shackleton Yep! I totally get that...and I am too. That said, the way I understand this program, you can do both - take advantage of low rates to lock in low payments, but then also use this strategy to force equity by paying down the principle faster by using the two different types of credit to maximize the paydown without changing  your budget. 

@Aaron Smith What program are you using to do this? I'm curious if it is the same one. Feel free to DM me if you're more comfortable with that. Also, I'm curious about your comment about having a bigger tax write-off...how so? Why are you having a bigger tax write off by paying down your principle? Because of your HELOC interest being paid?

@Weston Bovee How do you plan on funding your deals? Are you going to be offering cash purchases? Do you plan on using hard money or private money lenders? Or do you plan on just looking for easy cosmetic rehabs and getting conventional financing? Depending on how big of a rehab project it is, you may not be able to get conventional financing so the funding will also be something you'll need to figure out as you start making lots of offers. 

@Daniel Bautista Let’s talk.