Deal Analysis – West Highlands House Hack
Our client is a young working professional purchasing his second investment property through the house hacking approach. The client wanted his next purchase to provide a balance of investment and lifestyle. Location was one of the main focuses along with the ability to add value to the property to increase the rents by finishing out the basement into a separate unit. The neighborhood will continue to appreciate and the property is zoned and large enough to add an additional dwelling unit (ADU).
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Colorado Springs Real Estate Trends – August 2020
The Colorado Springs MLS trends data for August 2020 is out. Comparing year over year (August 2019 to August 2020) is better than comparing the previous month, because we have defined seasonality trends.
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Denver Real Estate Trends – August 2020
The Denver MLS trends data for August 2020 is out. Comparing year over year (August 2019 to August 2020) is better than comparing the previous month, because we have defined seasonality trends. An executive summary is provided.
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House Hacking in Colorado Springs
While writing this guide, a great opportunity popped up to partner with an agent in Colorado Springs. Her name is Jenny Bayless. She’s an active investor in the Springs and a CPA turned investor-friendly Realtor. Long story short, we had just enough time to add a module on Colorado Springs to this guide to highlight some of the differences. If you’re interested in the Springs market, make sure you keep an eye on our podcast and email list as Jenny and I will be doing a deep dive into the market!
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Play the House Hack Long Game
I rarely see blogs, podcasts and YouTube videos discuss the long-term investing options that house hacking present. Yes, they do a great job of focusing on living for free or near free for a year or two, but they don’t put it into context of what house hacking can do for you over the next few decades. Well, this section will!
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Buying Your Next House Hack
In this section, we will be talking about preparing to buy your next house hack property. Whether it’s moving from your first house hack to your second or your fifth house hack, we will help you with the steps needed to transition to that next one. We will go through some considerations you will want to keep in mind when planning your next house hack and turning your current house hack into a rental.
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Just Closed On Your House Hack, Now What?
So, you finally found a great property that will work for you, and the keys are in your hands. What a wonderful feeling! Now what? This is where the fun starts! In this module, our expert House Hacking Coach, Jeff White, will guide you through the top six things you must consider before acquiring your first tenant.
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You’re Under Contract on a House Hack
Congratulations! You are under contract. Now that you’ve identified a great property and are officially under contract, we want to talk about the next steps. We’ll discuss your responsibilities, our responsibilities and what you can expect moving forward.
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Starting Your House Hack Property Hunt
Going out and actually looking at properties is arguably the most exciting part of the process when searching for homes. While it may be daunting for clients waiting to get to this step, it is important that our clients are fully prepared and knowledgeable about the process. We like to set good expectations so that our clients feel empowered to make quick and knowledgeable decisions.
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Building Your House Hacking Team
As with any real estate investing strategy, it is important to have a solid team in place to help you execute purchasing your real estate properties. The type of investing you are embarking on will dictate who you need on your team. For this section, we will obviously be talking about assembling a team to help you purchase a house hacking property.
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Long-Term Modeling for House Hackers
The goal of this module is to walk you through a long-term financial model of buying house hack properties. The model balances key variables and simplicity. It’s designed to show you the long-term power of buying multiple house hacks and ask key questions along the way.
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Personal Finances and Goals for a House Hack
Having a plan for your finances and writing down your investing goals are two key habits that you want to implement. In this module we will go over some key points to keep in mind and tips on how to best plan your future, and not only buy your first house hack, but make sure you keep it through the ups and downs of the market, through the curveballs life throws at you and set you up for long term success.
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