All Forum Posts by: Andrea Michels

Nicely renovated 3rd floor walk-up condo up for sale.  Newer carpet and laminate flooring, side-by-side refrigerator, dishwasher, high-end washer/dryer, and water heater.  Features a balcony with sliding glass door and wood-burning fireplace.  Walk-in closet in the bedroom plus a good-sized hallway closet.  The bathroom features a vanity area that is separate from the toilet/shower.  Toilet has been replaced and the shower surround features tile.  

The unit has two additional storage areas, one closet on the 3rd floor and a larger storage unit in the basement of the building.  I currently rent out the basement storage to another on-site resident.  She is consistent about paying me quarterly.  You could continue to do the same and bolster your rental income.

My HOA fee currently includes 2 parking spaces--normally each resident only gets 1 space but I managed to get a second which is fantastic given how limited parking is at this complex.

The community has a clubhouse with an indoor pool and the association is run by a very competent company.  There isn't a lot of participation in the association.  I believe there are as many or more owners as renters in this complex.

Nearby is a community college, a VA administrative office, St. Anthony's Hospital, the federal center, and the Jefferson County offices. This property is a quick walk to a light rail station.

I've held this investment for over 5 years and never had a problem renting it.  My current tenant is on a year-long lease that expires in October; he would like to stay in the unit.

Hi Brian - Sorry for the delay in responding!  I'm so glad to hear you're interested in talking with us.  Our next event will be sometime this fall.

We are also working in KC--let me know if you need any contacts there.  On a personal level I agree with you about how hot the Denver market is.  Even brokers I know have the same observations.  

When you have time, check out our website:  https://www.bankfinancial.com/business/

As you're compiling information on lenders, please reach out to us for a conversation.  We'd be happy to chat about your investment plans and to see if we're a good fit for what you have in mind.

And, finally, I recommend that you join the Apartment Association of Metro Denver, if you haven't already.  They have a small investors group (IROC) that's quite experienced and offers a lot of practical advice.

Andrea

BankFinancial specializes in financing in the multi-family industry in Denver.  We're having a networking event where we'll be announcing a new capital markets program on Thursday 6/29.  We'll be having an open bar, appetizers and a dessert bar.  Please message me to RSVP and so I can share the location with you.

BankFinancial is hosting a networking event and happy hour on Thursday, June 29 where we'll be announcing our new capital markets lending product.  This event is for investors, real estate brokers, and property managers in the multi-family industry The event will be in central Denver from 4:30 - 6:30 p.m.  Please PM me if you would like to attend and I'll send you the location information. 

Hi Mike,

I read your post as part of my research that I'm conducting.  I'm looking into buying a PM company here in Colorado and want to be thorough in my due diligence.  I've added some of your comments to my list of questions for the current owners of the company.  Would you have a little time (about 30 minutes) so I can pick your brain on how to evaluate the firm?

Many thanks for your consideration,

Andrea