All Forum Posts by: Grant P.

In the neighborhood I do my flips in, appraisers give a 2 car garage 20k value, and it costs me $12,300 to build them, so its a no brainer.   

The answer is in the data for your neighborhood  

This is absoultley true, I've witnessed it.  Same goes for car wholesalers, or anyone that buys from an auction setting.   It's called the old boys club, and it is alive and well here in Denver.  

Check this property out, I just listed this yesterday. MLS# 6114809

Seems like there are a ton of people trying to do this to offset the cost of living here in Denver, as my phone is ringing off the hook on this property.  

I spoke to a friend that has an air bnb property here in Denver that he rents 26 days a month on average.  If you can do that with a two unit property, you are getting paid to own the property and live there at the same time.  

These rarley come on the market with both sides or both units however, so its slim pickings out there right now.  

Sam is a good friend that specializes in leasing office space, specifically to startups.  He would be a perfect fit.  Here is a link to his site:  

http://www.colliers.com/sam.devorris

I don't believe that Denver is a bubble at all, in fact these crazy numbers are due to the quality of resident that we are attracting, and the type of housing that comes along with it.  Just as @Bill S. mentioned the most of the  new units being built, especially in the CBD and urban core are appealing to the new residents that are a different demographic than historically.  The demographics, transit, market and job trends are what I follow closely. Keep in mind we don't invest in the typical investments that most on this site do.

I had the opportunity to attend the state of downtown Denver a few weeks ago, an annual update for stakeholders and friends of the downtown denver BID.  The data is staggering. Keep in mind this is just for downtown Denver, but the urban core is where I do all of my investing and business.  Here are a few snapshots from the report.  If you're curious to see more, PM me I have a PDF copy of it in its entirety.

I recently paid $9 per board to hang, and $15 per board to finish to level 5 smooth.  Also add about $15 per board for material.  This was for a 150 board remodel.  All in $39 including material, but I am pretty ruthless with the negotiations with sub subcontractors.  

Yes, you should be able to get a FHA mortgage with a 640+, but there are many other factors other than credit score. Employment history, debt to income, default judgements, etc. You need to talk to a lender directly to get you pre-approved.

I am a Realtor, and have sold FHA properties to many clients with a 640+ credit score.

@Walker Hinshaw

It's actually 8 years according to my legal counsel, buy yes you are correct that the apartments can be converted after the statute of limitations expires.  

Explain to my why you want to build modular vs. conventional building practices?  

At $110 psf plus foundation you are not saving money, so why modular?