All Forum Posts by: Cherie Tormey

Thank you Frank

I have had a 3/2.5 in SE Denver since 10/98. I have lived in it and rented it out over the last 30 years. A short year ago I invested 20k to make it a nice furnished rental. It is doing okay but not as well as I had hoped. It actually does best as an STR. I have about 350k in equity in it. It would likely sell for 525k. Should I sell it to prepare for a market downturn? I can get primary residence exemption as I have lived in it 2 of the last 5 years. Or simply sell to reinvest it in a smaller market? I don't really like dealing with the STR model. It has been a bit less popular as an MTR. I think Denver has many options in the MTR arena and closer to more hospitals than mine. OR should I hold onto it and let the cash roll in as I am nearly done paying off the 20k. I guess it is the cash flow verses how hard is the equity working for me. Then again is simply best to be more liquid as we go into what feels like a big unknown with our economy. Thanks much, Cherie Renee

https://www.furnishedfinder.com/property/676508_1

Love your success!  HATS off to you!  I would love to learn more.  

How many hours on average does it take for you to find the deal plus your cost finding it if any?

Thank you!

HELLO!

I am looking for tips on structuring a rent to own deal.  What contracts to use.  How to screen the tenant.  BP seems to have contracts for LTR but I haven't seen any documents for rent to own.  I assume it is a typical LTR contract with an addendum to address the terms of the purchase.  Thank you!

House Hacker Opportunity

6105 Chase Street, Arvada, CO 80003 - see photos on Zillow

7 minute walk to the light rail! Gold Strike Station

This home is a 4 bed 2 bath home with updates from the 90s. Live in it and fix up, Excellent House Hack Opportunity, separate entrance to the basement. Take on this project and add square footage into the massive yard or simply update the inside with some savvy design and sell for a profit. 2 bedrooms on the first floor with one bath kitchen and living room. 2 bed and bath in the basement. This house was purchased by the owner December 4, 2023. Check out the home on Zillow.  Listing is not active.  Photos are accurate, though it is hard to see the separate entrance, but photos are accurate as to the design of the home.  Though I will say it looks nicer in the pictures. Hard to tell what updates it needs besides paint. A tremendous amount of possibilities with this property.

Other strategies

Make it an up and down Duplex - Add a kitchen or kitchenette to the basement

House Hack - live downstairs and airbnb the upstairs, Arvada is very very airbnb friendly

municipality

Live in one half and LTR OR MTR the other half

Ample room to add an ADU in the backyard and/or above the garage (received a quote from

anchored tiny homes for an ADU 1bd/1b at 145k). Ample room for a two bedroom apartment

above the garage.

Please Contact

Cherie Tormey 720.419.4186

House Hacker Opportunity, Owner Occupant buy with equity to grow, STR, make it a Duplex.

6105 Chase Street, Arvada, CO 80003

7 minute walk to the light rail! Gold Strike Station

This home located at 6105 Chase Street, Arvada, CO 80003 is a 4 bed 2 bath home with updates from the 90s. Live in it and fix up, Excellent House Hack Opportunity, separate entrance to the basement.. Take on this project and add square footage into the massive yard or simply update the inside with some savvy design and sell for a profit. 2 bedrooms on the first floor with one bath kitchen and living room. 2 bed and bath in the basement. This house was purchased by the owner December 4, 2023. Check out the home on Zillow photos are accurate as to the design and quality of the home. A tremendous amount of possibilities with this property.

Other strategies

Make it an up and down Duplex - Add a kitchen or kitchenette to the basement

House Hack - live downstairs and airbnb the upstairs, Arvada is very very airbnb friendly

municipality

Live in one half and LTR OR MTR the other half

Ample room to add an ADU in the backyard and/or above the garage (received a quote from

anchored tiny homes for an ADU 1bd/1b at 145k). Ample room for a two bedroom apartment

above the garage.

Please Contact

Cherie Tormey 720.419.4186

House Hack Opportunity

6105 Chase Street, Arvada Colorado.  If interested contact me at 720.4194186.  

Thank you!

Cherie Tormey

I am the owner. I have owned it for less than a year. I purchased this home for my daughter and the mission changed and it is to much house for me. I am open to any solution that is a win win. There is not a lot of room in the margins is the challenge here. ARV with the same square footage is at least 615k. The purchase price is 565k. Updates made. New amazing windows that have made a huge difference on the house being cool. New AC 10 yr warranty on parts and labor. New grade door opener. Popcorn ceilings removed and a very nice indoor/outdoor door that separates the upstairs and the downstairs. Separate entrance to the basement through the back. Ample room for an ADU in the backyard which the county fully allows. Interest rate on the mortgage is 7.37. Payment is 3400.00. Feel free to contact me at 720.419.4186. :)

The Zillow listing is simply for pictures

https://www.zillow.com/homedetails/6105-Chase-St-Arvada-CO-8...

FIX and FLIP, Novation, House Hack, Duplex, Rent to Own - Open to any creative idea

6105 Chase Street, Arvada, CO 80003

7 minute walk to the light rail! Gold Strike Station

This home located at 6105 Chase Street, Arvada, CO 80003 is a 4 bed 2 bath home with

updates from the 90s. Take on this project and add square footage into the massive yard or

simply update the inside with some savvy design and sell for a profit. 2 bedrooms on the first

floor with one bath kitchen and living room. 2 bed and bath in the basement. This house was

purchased by the owner December 4, 2023. Check out the home on Zillow photos are

accurate as to the design and quality of the home.

Other strategies

Make it an up and down Duplex - Add a kitchen or kitchenette to the basement

House Hack - live downstairs and airbnb the upstairs, Arvada is very very airbnb friendly

municipality

Live in one half and LTR OR MTR the other half

Ample room to add an ADU in the backyard and/or above the garage (received a quote from

anchored tiny homes for an ADU 1bd/1b at 145k). Ample room for a two bedroom apartment

above the garage.

Please Contact

Cherie Tormey

720.419.4186