If you’re interested in obtaining some intriguing real estate information, you are in luck. Get ready to embark on an exceptional journey because we have a story that will surpass even the most thrilling roller coaster ride.
Jenny and Leah, our favorite Colorado Springs realtors, share with us how they helped a client in becoming a real estate expert by purchasing a remarkable property in Woodland Park with the intention of renting out a portion of it.
Short and Long-Term Rental
Leah elaborates on how she worked closely with their client to locate the ideal property that would not only meet their requirements but also offer the possibility of short and long-term rental. To put it mildly, the client struck gold! He had purchased a previous fantastic house with a separate entrance that was transformed into a duplex, and now, he bought a property with a 5 bed 3 bath House Hack. It’s also important to mention that he only pays about $550 a month to live there. It’s akin to winning the lottery, but with Real Estate.
The most astonishing aspect of this situation is that this savvy client only invested $14,000 and will recover the entire sum in a mere 4 years. In just 48 months, he will have 2 incredible properties converted into rentals. That’s what we call intelligent investing!
If you’re thinking, “Wow, that sounds incredible, but how can I participate in this real estate opportunity?” Do not fret, Jenny and Leah have you covered. In this episode, they also discuss financing alternatives to property management as well as how you can get in for less with seller concessions so that you too can become a real estate expert.
In conclusion, this is a narrative of real estate wealth and ninja abilities that will inspire you to explore the realm of house hacking. Regardless of whether you are located in Colorado Springs, Denver, or broader, this podcast is filled with valuable insights and practical advice. Share this valuable information with anyone you know that be interested in real estate investing!
In This Episode We Cover
- How to find the perfect real estate investment property through house-hacking.
- What was the down payment Leah’s client used to purchase a duplex in Colorado Springs.
- How Leah’s client purchased a mountain property and found a 5 bedroom, 3 bathroom property on 4 acres in Woodland Park with a $10,000 seller concession.
- Short and long-term renting strategies.
- How to self-manage a house hack.
- How concessions can help minimize the cash needed for property and cover closing costs and initial startup costs.
Help Us Out!
We want to know what you want to hear! What struggles are you having in your real estate investing journey? What have you stumped? What will help you level up your investing game?
We want to know!
Please send an email to [email protected] to submit your answers!