All Forum Posts by: Alexander G.

I plan on beginning my REI career by wholesaling houses this summer and through the rest of my college semesters. I am currently looking for an investor friendly contractor who has extensive experience with evaluating rehab costs and ARV, hopefully in the Boulder/Longmont area. I understand that a good contractor is one of the most important pieces of the wholesaling process, and I am hoping to establish a relationship with a good contractor that I can work with over the next couple of years.

Any advice is greatly appreciated! The depth of BPs knowledge in even very localized real estate questions never ceases to amaze me. Thanks in advance.

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Hello BP!

I plan on beginning my REI career by wholesaling houses this summer and through the rest of my college semesters. I understand there are extensive steps that must be taken to ensure a correct wholesaling process, one of the most important of which is the proper writing of the wholesaling contracts.

My question for you BP wholesalers, is are any of you familiar with title companies in the Boulder area that can be utilized for closing deals and setting up that contract? Looking for an investor friendly title company that I can get started working with as soon as possible.

Any advice is greatly appreciated! Thanks in advance.

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Originally posted by @Andrew Waltner:

Originally posted by @Axel Ragnarsson:

I'm currently 21 years old, a junior in college, and working part time as a real estate agent... and am under contract for a my first investment property, a triplex. The biggest hurdle you will face is obviously getting financing. I talked to over 15 banks and credit unions in my area and eventually used a combination of a conventional mortgage mixed with private money to acquire my first property. If you find a good deal, the money will follow. The only reason I ended up getting financed by my money partner and the bank was because i found a very good deal. I definitely agree with @Jacob Sampson that house hacking is by far the best option you have right now. In my opinion, you should house hack a four unit rather than a duplex/triplex. If you can find one for a good price, you will have a much better chance of living completely free or even cash flowing.

@Axel Ragnarsson Thanks for the advice, I will be sure to keep an eye out for a four unit when the time comes! I have a question for you, how did you become a part time real estate agent while in college? Did you get an internship with a company? Are you independent or with a company? I am interested in finding an internship related to the real estate industry to gain some actual field experience.

I'm also interested in hearing the answer to this! In the same position as you Axel..

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Originally posted by @Andrew Waltner:

Originally posted by @Axel Ragnarsson:

I'm also interested in hearing the answer to this! In the same position as you Axel..

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Property prices in Boulder are damn high, and it appears that most multi-families close to campus are already owned by property management companies or independent investors. I'm assuming the time to get in for student rentals nearest campus would have been 10-15 years ago when prices really started to go up here.

I could very well be wrong and if so somebody please correct me.

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Very informative thread. Luis, am I to understand that all of this information is found at the County Courthouse, and that you pay a provider to get it for you? Could you expand on that a bit?

Thanks!

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Originally posted by @Daniel Ahern:

@Alex Gaw Hi Alex, good question, appreciate your input. If I buy 4-plexes, I can put 20% down and use 30 year mortgages (locking in current low rates). If I buy larger than 4-plex, now it's commercial and I need 30% or 35% down and can only use variable rate 7 year loans.

I have about $600K to work with. At 35% down, that extends to ~$1.7 Mil in properties. At 20% down, that leads to ~$3 Mil in purchases. Huge difference right? That along with being able to lock in low interest rates has me thinking it's the right path.

What are your thoughts? Anything I'm not seeing or misunderstanding here?

Also interested in seeing the answer to this last question...

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Hey all!

I was just curious as to what tool you all utilize when evaluating different housing markets?

Besides tools, are there public index's that have information on markets (rent rates, buy vs rent, etc), and how can I access them? I'm sorry if this question seems a bit broad, but I'm really just getting into REI and see all these posts about people speculating on the performance of a given market in the next 5-10 years, and I was just wondering what exactly you're looking at to make those predictions?

Any sort of information helps!

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I will be there, looking forward to it

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Where do go to find these sort of meet-ups across Colorado? Will be there at the next Erie meetup!

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All Forum Posts by: Alexander G.

Alexander G. has started 4 posts and replied 14 times.

Post: Reliable contractor in Boulder/Longmont?

Post: Title Companies in Boulder

Post: Investing immediately out of college... advice?

Post: Investing immediately out of college... advice?

Post: Buy and Hold in Boulder

Post: Whats your favorite list to target for motivated sellers? :)

Post: Hello! and where to find Cash flow 4-Plexes?

Post: Evaluating markets

Post: DENVER Meetup - December 7th

Post: North Denver, Colorado December 2nd Meetup Cancelled