Updated over 2 years ago on . Most recent reply
New Member Intro
Hello BP!
I am Zach and I am currently and architect + fabricator in Brooklyn, NY and I am looking to learn more about real estate investing and development. My wife and I are moving to Denver in a few months and I would like to take the time to connect and learn from like minded investors.
Seeing how competitive the Denver Metro market is, we are hoping to use a FHA construction-to-perm loan to design and build an owner-occupied 3 or 4 plex, assuming we can make the right deal on land. I've started some digging into the zoning for Denver, there looks to be tons of SU with possibilities for ADU but smaller allowable zones for multifamily. Ideally we would design build small multifamily so I can leverage sweat equity as an architect and possibly general contractor if I can get licensed and onto the approved FHA contractor list before we build, the process seems to take some time. Would love to hear from folks in the area and if there are any recommendations on general contractors that you've enjoyed working with.
Looking forward to learning from all of you!
Cheers
Zach
Most Popular Reply
Hi Zach, I am a REALTOR in Colorado and I am happy to get you connected with my go to GC. He actually has an Architecture firm here in CO with its flagship office about 45 min North of Denver but is working on expanding his Denver office.
This certainly sounds possible. Personally I would recommend buying with a 5% down convention loan, then while you are living in that house use the FHA program to build the 3 or 4 plex that becomes your primary. We have some pretty restrictive STR laws in many cities, but I could help you find a property that you would be able to use as an STR after you moved into your new construction MF property to maximize cashflow. If you would like me to get you in touch with my friend send me a DM and I will share his contact privately.