All Forum Posts by: Will Foster

Hi Colorado Springers,

My name is Will,

I started looking at potential cities for my first investment, and have come to like Colorado Springs.

My interest is in multifamily (Duplexes) properties that are in distress in the Broadmoor, Briargate, Pikeview, Vindicator and Rockrimmon areas, but am open to other areas

I’m coming to Colorado, October 10th -17th

The reason for the visit is to see what the area is like; businesses, schools, neighborhoods etc..and wanted to know if I could buy lunch for anyone who will sit with me for an hour to get your insight about Colorado Springs as a place to live and investing potential.

If Colorado Springs feels like a good match, then I'd like to possibly move there next year. So, I wanted to start meeting local investors, business owners, real estate agents, and general contractors before than and start building up some friendships and business partners.

Let me know if this is something you would have time for, and we can set a day.

I will be able to meet up Oct. 11th - 16th

Thanks,

Will Foster

Hey @John Leavelle and @Connor Heim,

Thank you both so much for taking the time to read my post and actually answer.

I'm getting ready to leave for the weekend, (Best Friend's 20th Wedding Anniversary. When I get back, I'll will fire questions back at you.

I hope you all are doing well in Texas!

Have a great weekend! 

~Will

Hello BPers! 

My name is WIll, and I'm a newbie. I've been listening to the BP podcast for a few months now and have a legal pad full of notes. I'm excited to start investing and to build a Real Estate portfolio. 

I want to use the BRRRR strategy, and House Hacking method for a duplex. But I am a little confused about the Refinance portion and process, and was looking for insight.

I was thinking of using the Government Loan (203K)

First, I go to them, get an original loan, rehab the property, move in half, and rent out the other half. Then after a year, go back and refinance the loan into a new mortgage, pulling out the equity to buy the next property.

Is this correct? What am I missing?

I do not understand why a bank would refinance your loan after a year. Is it because it's a larger loan? 

How do you get the equity from the new mortgage? 

Can someone break this down to me in dummy talk?

Thank you in advance for your time

Will