All Forum Posts by: Wyatt Nauman

Thanks so much Max! Appreciate your insight! I've definitely got many things to consider, and lot of reading up to do on partnerships - nonetheless excited to finally jump into REI :)

 This info was super helpful thank you Drew! Going to reach out to my lender monday and see what’s up. I will report back :) 

Thanks again! 

 All great points! My problem is my parents WERE my co-signers and they initially co-owned some business properties with 2 of my aunts/uncles. 

What happened is: My lender told me “all you need to do is move to Colorado and find a job and we’ll get you approved.” So I did just that, however… during that time the entire family decided to sell those business properties to help another family member get funding to acquire a condo. 

And that cancelled all my parents’ income aside from social security. They have a mortgage and monthly payments for a RV🤷‍♂️ which then put all that debt onto my profile, unbeknownst to them at the time. 

Aside from my parents, I’m not sure how comfortable I feel asking a cousin or a friend to co-sign for me? Mainly because they all will look at it from the viewpoint of a risk rather than an opportunity. 

Do you have any suggestions as to how I could broach such an idea, lol? Because has been a big hurdle for me.

Thanks so much! 

Hi, I’m 38 years old, I live in Boulder, CO and have more than enough to fund a full down payment + closing costs etc. for my first multi-family house hack with conventional financing. I recently moved here to do just that. 
However, my W2 isn’t going to get me where I need to be, and time just isn’t on my side. 

What I’m looking for is a 50/50 partnership to help me ascend into my real estate investing journey. Ideally looking for someone who would also be open to investing more together in the future if we mesh well.

We can iron out the details however both parties see fit, but like I said I’m looking for a 50/50 situation. This is an opportunity to invest in a higher priced market with a lower down payment, since I’d be occupying a unit in the property. I can handle property management, bookkeeping etc. Just really need someone willing to invest in both of our futures :) 

Looking forward to discussing this further! 

- Wyatt N.

Hi BP! Here's my situation: 

My family has about $250-$300K that we recently acquired through a relative unfortunately passing away. We want to put a good chunk of that to use via real estate investing, so I will be house hacking a small multifamily or perhaps a single family with zoning for an ADU.

Thinking the Denver / Boulder / nearby areas because I would love to live around there, have lots of friends around that area - including my real estate agent who I'm good friends with, and its an appreciating market. 

My family and I currently live in a small podunk town in Iowa, which I truly can't wait to move from, and we rarely come across money like this (we're basically as middle as middle-class can get). My parents are putting me in charge of the entire investing process because they're too far retired to want to deal with it, so naturally I want to make sure I'm making the best decision for all of us. 

Cash flow is hard to come by in the Boulder / Denver markets and although the extra monthly cash flow would be great, and there's plenty of places in Iowa that will cash flow, I'm wanting to scale quickly and feel Colorado would be a decent place for that. 

To get a solid foundation for myself I'd like to buy at least 1 property to house hack in Colorado each year with a 5% down payment for the next 2-3 years. After that I plan to focus more on cash-flowing markets out of state. 

So, do you have any advice for a first-time house-hacker wishing to jump into the appreciating deep end and swim with the sharks? 
Is it more advantageous for me to do this in Colorado? Or should I stay in Iowa and aim at buying cheaper cash-flowing properties?

Appreciate any guidance! Thank you BP Fam!!! 

To be more clear, I just can’t edit my initial post. Had I been able to do that it wouldn’t read like I was trying to do something illegal.

I have my own down payment sorted out (now), but when I made the post I didn’t have that and was offering a 50/50 partnership with anyone willing to help. Doing ANYTHING illegal is not and was not my intention. 

As of now I will be using my own money for my down payment and bank money for the rest and i will not be accepting any partnerships whatsoever. 

I’m dead-set on house hacking my way into a property somewhere near the Denver / Boulder area. 

I’d love to do a 50/50 split with someone looking to invest in an appreciating market. It would be a cheap buy-in for you because I can access a FHA loan for 3.5% down, and possibly a CHFA grant that allows up to $15K in down payment assistance.

I was close to getting pre-approved on my own, and had some ways to finance a deal myself up until my mom was recently diagnosed with stage 3 lung cancer😢. That being said, my money isn’t where it needs to be and I’m looking for a partner to split a small multifamily property with me. 

My plan is to house-hack until I can do a cash-out refi to fully pay back the down payment / loan and use any remaining funds to reinvest into another down payment. 

This could be the start of a very lucrative and long-lasting partnership for whoever is willing to jump in with me! 

I can find and analyze the property myself if needed. I plan on maintaining the property myself to save money and to further familiarize myself with the process.  I have the skills, the determination, and the time - I just don’t have the finances. 

About me: I’m 37, currently residing in Iowa. Very friendly, attentive, goal-oriented and ALL-IN on real estate! I’ve been following BP for over 2 years now and have been a pro member for about 6-9 months.  

My ultimate goal is to one day be successful enough with real estate investing that I can help my parents sell their house and get into a better situation. I’d also love to eventually be able to help my friends get housing that can not currently afford it. 

I beg of you - help me help you🙏 

Thanks for taking the time to read my post :) 

- Wyatt N