All Forum Posts by: Tristan Colborg

Well I have been reading and learning a ton over the past few months, looking at properties in the KC market and finally found one to make an offer on. The purchase price was at $67k and after running the numbers fit my cash flow criteria. I made what I thought was an aggressive offer... $72k cash purchase, 21day close, 10% earnest money. After a day of waiting just found out didn't get it, and went to someone who bid over $80k. It was a little bit of a let down to not get it, but need to keep moving forward. I'm wondering if it would be better to try and find a wholesaler for deals instead or start a direct mail campaign, what are your guys thoughts? Want to get my first deal by the end of the year.

@Minar Aware As a Denver native I think you are going to have a slightly hard time finding something to cash flow here. I believe it would have to be something off market, or in need of some rehab. Not saying that it isn't possible, but I think a lot harder and more capital than some other markets.

@David Rosenberg Thanks for the update I wasn't sure if it was just me. Still really like the update just minus that piece.

@Tristan Colborg just curious if anyone found the search function on the updated Android app.

So I opened up the BP App this morning and to my pleasant surprise it has been updated. I think it looks great , but one thing I can't find and maybe some other users can help me is the search function . I know there used to be one in the older app but now I can't find the ability to search BP anywhere in the new app. Anyone else been able to figure this out?

I was literally just thinking about if there was a meet-up specifically for people in Colorado who are looking to invest out of market, and then I see this. I will do everything I can to be there.

@Chris Lopez just saw your event you will be hosting next week, unfortunately I won't be able to make that one. Do you hold events each month, or quarter? 

Also I would love to see what your spreadsheet model looks like that you have provided to your clients. I am looking to close on my first deal with in the next 6 months, and hopefully a 2 more in the next 3 years. Right now looking out of the Denver market because I think its pretty hard here to get good price to rent ratio unless you are getting off market deals. Are you doing buy and hold investments here? Do you feel like the market is going to correct a little?

@Cameron Belknap It definitely seems like you have a solid plan, and good for you. Definitely not what most 23 year olds are thinking about! I think that if you can save at the rate that you are discussing you may be able to use that and a portion of your equity in your primary residence to purchase another investment property quicker. But otherwise I am impressed. 

Welcome man I'm with you and just getting started. My wife is kind of on board, but not really wanting to dedicate her time to learn it. I just keep bringing things up to her and explaining the why. Hopefully she gets more and more involved. 

As for your first property, could you do something multifamily and house hack it? 

Got you. See I struggle with that because they do offer an interest only loan, but the max LTV is 80%. And I think I would like to have the extra working capital, but the 1% payment is a part that worries me a little bit.