Folks - what markets are you looking at both in the front range and behind? I'm currently seeing some decent, not great deals on SFH in the front range, and a handful of SFH in the Denver area. As far as Grand Junction goes, there's nothing on redfin.
Where do you start, where do we go?
I’ve picked up a couple in the Denver metro but the math isn’t fantastic. Kind of a buy what I know thing.
I have several colleagues that are going to Pueblo. Great cash flow opportunities. Not sure much if any capital gain potential though.
@J Rohman I would tend to agree with you about GJ. No deals on the MLS. We are trying some direct mailing right now, but haven't had much success so far.
@J Rohman depends on what you're looking for. If you're looking to BRRRR, there are opportunities, but you've got to be patient and willing to hunt. Keep an eye on AVR prices as things tend to cool off the second half of the year here.
Where in Denver are you looking? I’m happy to assist if i can.
@Dale Byram you can find some deals on the MLS but you really have to "sort". I keep an email list for local investors and send out properties and other investor info several times a week. @J Rohman most opportunities are not going to be a straight forward BRRRR. You are going to have to value add: extra bedroom, ADU unit, carve off a second lot, that sort of thing.
@Dale Byram Look at a property on 1611 N. 16th street. It is an FSBO and would make a nice college rental. Their listing price is high. It needs about 20K worth of work. An ARV of 195000. I was looking at it and am currently tied up in another deal. Use the BP rental or BRRR calculator to check out the math.
@Jim Rohman the best deals are off market and you will need to look in some obscure places to find them. I have found deals driving around in my travels for work. One method you could use is to keep an eye on bankruptcy notices and find out through the clerks office who owns their property and call them to see if they are selling. Also, it is a good idea to get a list from the public utility company to pursue those that have had their power shut off or late. You can find people that are in need of a quick house sale.
@Thomas Hundtoft thanks for the lead. I'll check it out, and keep you updated.
@Dale Byram did you take a look at that place. I was thinking 160 offer and 10K in repairs and you would have a place worth 190 that rents for 1350 or better.
Yeah, however we had an offer out on a 4 plex that got accepted. So I've been preoccupied. If the 4 plex goes through our capitol would be tied up for a little while. I would probably not go over $130,000 though. $160+$10 isn't even 1%.
@Dale Byram the 16th street property would be a conservative deal. A good one for someone starting out. The math indicates a good couple hundred bucks per month cashflow.
Hey @Thomas Hundtoft ,
Here are the numbers I am coming up with. What am I missing?
@Dale Byram I Calculated with less money down, owner taking a second position for a low money down situation (3.5%), Water/Sewer/Trash in the city runs 59/month(no way around that within city limits). Here is how I ran the numbers. One of my goals is to put as little into the deal as possible so there is a better cash on cash return. Perhaps I am way off and your calculation is much more accurate. https://www.biggerpockets.com/...