I firmly believe that the most practical way to wealth for the majority of people is real estate. How do we get there? Bigger Pockets offers a few tips.
It can be really tough to get started, from raising the needed capital to finding the right deals. There are options, though, from low money down owner occupant loans to no money down VA loans.
Call, text, or email me and let’s talk options!
Rob @ 719-440-6626 or robthompsonrealtor@gmail.com
Short answer: no.
Longer answer: the VA loan is actually a Veteran’s Administration guarantee on a home loan. It allows a military member to buy a home with no money down and avoid Private Mortgage Insurance (PMI). PMI is insurance on a loan; in the case of a VA loan, the VA is the insurer. Further, most lenders can do VA home loans; you are not locked into using a specific bank or lender. It’s your entitlement and prerogative to compare interest rates and closing costs.
Looking for a lender? Give me a call and we can talk options.
Call Rob @ 719-440-6626 or email robthompsonrealtor@gmail.com
Good question! Here you go! Link to the Colorado Springs Housing Authority
Calling my contractor right now for some of these!
Looking to buy or sell in Colorado Springs, call Rob at 719-440-6626!
This 3 bedroom rancher has an open floor plan, stunning view and a TON of potential! Located near Woodmen and I-25, listing for $225K – this one will go fast! Call Rob @ 719-440-6626 or email robthompsonrealtor@gmail.com.
Check these options out; Ours is one of those cities that’s never lacking for stuff to do!
Good question! This question is a follow on from this post “you mention ‘cash flow’ investing….”
Probably the best general rundown I can recommend as a good starting point is this podcast from Bigger Pockets: The Ultimate Beginner’s Podcast for Real Estate Investors. I am a huge fan of these podcasts and this forum has helped me personally prepare for my investment journey.
By request of the landlord:
Private Landlord — 4113 Happy Jack Dr — D49, 3 Bed, 3 Bath, $1400, pets ok w/deposit, call or text 719-271-3019 for information/showings!
Good question! In our city, we have somewhere around a 96% occupancy rate for rentals (I have heard it quoted as -1% but haven’t been able to validate that yet). This represents a great opportunity to invest in ‘income’ property here (I hope to buy at least one quadplex personally soon).
When I mention “cash flow,” I am specifically talking about the difference between the mortgage on a home and the rent it brings in. For example, a 3 bedroom, 2 bath home in Colorado Springs rents for – on average – $1100. What if you could buy that home with a mortgage of around $800 taxes and insurance included, then rent it out? The spread would be $300. Assuming a $20,000 downpayment, the ROI (Return on Investment) would be 5.5% a year gross. That’s MUCH better than a checking or savings account generates.
What if I don’t have $20K, you may be saying? That’s okay; there are other options from owner occupied quadplexes to partnerships and more.
Questions? Email me at robthompsonrealtor@gmail.com or call 719-440-6626.
Also, check out Bigger Pockets “Buying Rental Property.”
I get a lot of requests for information on tenant and landlord rights.
Knowing your rights and obligations is critically important in protecting the same!
For your reference, here is the Colorado Springs Fair Housing Information brochure!
This is not legal advice. Always consult an attorney before taking action.