All Forum Posts by: Ana N.

Thank you for the tip @Luis Toledo

I don't know of any rehabbers that use those in Chicago, but it could be a great alternative to the high cost of putting in ducts!

Thank you for the 411 @Bill S. !

That's a bit out of our price range. Makes sense if you're living downtown though! I'll definitely have to take a look at craigslist sometime for comparison.

Do you experienced rehabbers out there....

put in a new garage in investment grade/blue-collar (low-moderate income) neighborhoods if there isn't one?

put in central ac /heat if the property doesn't have it in these areas?

These two costs, along with the typical kitchens, windows, floors, and baths that it looks like most rehabs need seemingly drops the 70% rule MAO really low - almost to zero or even negative numbers when ARVs are in the sub 130k range.

Gotcha @Brie Schmidt Thank you for sharing your experience about your rehab and congrats on doing one!

For all you Chicago Investors...how do you determine if you're going to flip vs hold a property? What criteria do you look for?

Do you use any of the rules of thumb ex/ 2% rule? 70% rule?

This might help me better figure out what's a good deal.

Awesome @Brie Schmidt !

What area was your rehab in?

Do you guys think there's much of a difference in estimating repairs when it comes to southside vs northside properties?

My guess would be that you can get away with spending less on the southside..less granite and marble?

Wow @Micki M. !

Nice to see there's some life in downtown Denver! Growing up in Chicago, we love the urban feeling. Being within biking distance of anything we need is the goal.

We'd love to have a drink with fellow BP'ers when we go down to visit CO again.

Just cuious...What are the rents like in the downtown neighborhoods for a 2/1 apt?

I'm very curious to see Boulder too, having never had a smaller town experience. Sounds like it could be a nice contrast and escape from the hustle and bustle of every day city life.

I'm curious to see what a smaller town vibe is like to actually live in.

Are you, @Anson Young , @Brian L. familiar with the Longmont, CO area? If so, what are your impressions? How would you compare it to Boulder?

Any BP'ers live in the Longmont / Boulder area?

An early retirement blogger I read lives there and recommends it as a nice place for early "retirement" / financial independence.

@John Weidner

This area seems to be much more of a fix and flip than buy and hold area.

According to Rent-ometer:

3 bedrooms rent for..Median: $1000 Avg: $1042

2 bedrooms rent for...Median: $700 Avg: $860

Thanks for the reference for a new garage! I was using a lower #

Wow thanks @Brie Schmidt !

Looks like I was already off and I forgot about the ducts!

And Seller is asking 45k!

Using your numbers of 62k + 20% misc - we're at 75k in repairs.

At 120k ARV: MAO = 9k using the 70% rule and there's pretty much no room for a wholesale fee.

Is this a dead deal lol?

Does anyone hold any rentals in the Bridgeport neighborhood?

It seems to me like a better buy and hold than fix and flip kind of area, but I'm still researching.

From what I've seen, a vibrant "hipster"- like influence and community is growing there, ala Pilsen = better tenants and higher rents?

Interesting @Micki M. !

Downtown Denver sounds a lot like the downtown/uptown Dallas area, except with amazing mountains and snowboarding within a 2 hour drive!

Can you name a couple of these downtown neighborhoods that are so vibrant? I'd like to check them out when I go to CO this summer.

Also, what are your thoughts on Boulder? Do people live in the city? walkable/bike-able?