All Forum Posts by: Tyler Stephens

CSU wont care if she is obviously doing anything or not. I think the guidelines for in-state tuition are governed by laws, not college rules. There is no room for negotiation. So as long as you meet the requirements as they are listed on the website, I don't see this being a problem. That said, however, I was going to attend CU Boulder after living in CO on my own for 2 years and attending a community college, but CU only considered the residency of my parents if I was under a certain age (I think 23 or 26), so she might not meet the criteria even after jumping through all these hoops. I would just call the college and ask them. If it will work they will let you know, the person answering the phone doesn't care if you are being clever or not.

I think I'll make myself attend as well. 

I was doing my own research about Denver because I had the same worries. After reading this article, I'm no longer worried. While this article only applies to Denver, it explains the metrics it uses and why well enough that you can get similar numbers for wherever you are looking and make an educated decision based on those.

http://yourcastle.org/media-claims-denver-housing-market-is-entering-danger-zone-we-see-it-differently/

@Travis Sperr The long term trend numbers you referenced were awesome. Do you have any resources you can share for them? I've been wanting to learn more about market trends specific to Denver.

I'm slightly less optimistic about Denver's growth in the future. I think the housing development projects, especially multi-family, are starting to catch up with the influx of people. I have no concrete numbers, but i did count 12 tower cranes on the downtown skyline last weekend. This coupled with an expectation that the population growth will slow in the coming months will create an abundance of multi-family and consequently a price dip. Again I'm going off anecdotal evidence here, but I believe a large number of transplants are here for legalized marijuana, and with state regulations tightening as well as more states legalizing, along with all the other factors at play (such as skyrocketing rents), we will see a steady slowdown of population growth. I don't expect a crash or even a recession, just the end of a boom, possibly starting as early as next year. 

All that said however, I agree with the notion that for long term buy and hold investing, market cycles are less important. If you can get deals near the bottom of the market that's great, but not necessary. Far more important to you are the kinds of numbers provided by Travis Sperr, that an average annual growth of 6% over 60 years means all you need to do is cover your loan, and if things DO go bad, all you have to do is wait. In 30+ years when you decide to retire, there is practically no chance you will have lost money.

For me personally, I plan to get started as early as possible and just deal with a hot market. Then when things do slow down i'll have my feet wet and I'll be positioned to capitalize on the increasing supply of good deals.

Hey everyone!

I've secured financing for my first flip... from my girlfriend's parents. I've heard and seen horror stories about family working together and how bad things can get around the dinner table when things go south in the business relationship. I'm looking for any advice to help ensure I don't end up a victim of the same problems. I love my girlfriend (buying the ring soon!) and her family is awesome, and don't want to do anything to jeopardize our personal relationship.

A few details: I've been learning everything I can from BP and talking to anyone I can, and had started looking for ways to secure financing when her parents generously offered to finance the first house. Specifically her dad offered to buy it for us. The opportunity is too great to pass up, and so now I'm trying to solve a couple of issues. 

One is how we should structure the deal. We can either do the deal like a hard money loan (but with better terms), or go into the flip as partners and split the profits. If we go in as partners, and they finance everything, and the flip goes bad and we lose money... do partners typically hold themselves partially responsible for repayment of the losses? How are those deals structured not among family? I get the feeling they aren't looking to make a profit, and just want to help us get started.

The second issue is the more important one. What steps should I take to ensure that if our business deal somehow goes bad, it doesn't create personal tension in the family? Obviously we need some sort of written agreement, but are there any specifics we might cover that will make things easier for everyone?

Thanks all,

Tyler

@Account Closed For me personally, I like to avoid trying to "get away" with things, not so much because I fear the repercussions, but it sets a bad example for my own future dealings. That's just my 1 1/2 cents there. No matter what solution you come to, I'd go to your neighbors and just smile and say hey and tell them that you will be taking on AirBnB guests. Then give them your card or your phone number and ask them to please call you if they experience any trouble at all. That kind of good faith typically goes a long way.

I'd like to re-open the discussion about Zbuyer.com. The guest from show 188 mentioned using it for leads so I decided to check it out. Of course, when I google Zbuyer reviews, the first thing that came up was a Biggerpockets discussion, but all the posts are over 2 years old. Anyone with more recent experience want to weigh in as to the site's worthiness?

You might consider speaking with a CPA too. Having the right business structure can save you a huge tax headache down the road. They'll be able to talk you through how you will split profits/losses with your father-in-law and make sure everyone's asses are protected as well. 

I'm actually in a very similar position with my future father-in-law. I'd be very interested to know what you settle on. Keep me posted!

I was the other way around, I started reading Rich dad poor dad after hearing it recommended so many times on BP. I'm still not sure where I want to go with investing. I do know that eventually I want enough equity and passive income to feel "financially free". For now I'm just learning everything I can. I have a long way to go before I do my first deal.