All Forum Posts by: Grant P.

It seems to be the same here in Denver. Low inventory, hot market, low interest rates, and a city experiencing rapid growth combine for a hot market.

I put a property under contract yesterday where the seller was unwilling to come down in price beyond 1%. Another offer we wrote up with an investor client of mine was rejected as a cash deal for a package of 2 properties that the owner owned at 92% to list. His counter was full price.

Bank owned cash deal at 100% to list and did not get it.

HUD offer at about 107% to list cash deal and missed out on that.

These are all within the last 2 weeks.

I was stuck at work and couldn't make it. When is the next one? I know the holiday might complicate it for some people, however it would be nice to pencil it in so I can try to make this one.

I have been replacing the flappers with a system that is cable operated and I love how it gets rid of the chain that always seems to break. I can't speak to longevity as I just started using them, but I like the design much better.

http://www.homedepot.com/h_d1/N-25ecodZ5yc1v/R-203228546/h_d2/ProductDisplay?catalogId=10053&langId=-1&keyword=toilet+flapper&storeId=10051#.UKGZj9eK1-w

You can get your licence, and you will be able to hang your licence somewhere. What company is willing to take you on is another story, but I interviewed with plenty of companies that seemed to not care what experience you had.

The company I work for was like interviewing for a real job because our office averages $4 million per broker, and they count on this to cover expenses, overhead etc. They also require $4 million in experience.

Pay to have the property measured and use that info.

Tax records are often outdated, and we do this all the time when listing a property for sale. If you did not do the unpermitted work, and have been transparent with your disclosure, then you will be fine.

We are currently in the process of a new build 8 unit development here in Denver. Getting the numbers to work is and has been a huge challenge for buy and hold. At the end of the day, our investment will cash flow about the same as a project that was turnkey and on the commercial market. Our cost basis would have been much higher as we did not account for our time, or an architecture fee.

Simply put if we didn't have free design and free PM this deal would have been garbage. We build and are happy with less cash flow because we know we have created the value when we go to sell as condos. But in our market it is hard for us to build for buy and hold. Building to sell is another story, as this can work quite well assuming the variables all line up in your favor.

Denver is the only real estate market I have ever worked in, and this site has really opened my eyes to how different it seems the rest of the country is to Denver.

With our model we count on the future appreciation and try to get into neighborhoods before its too late. So far it has worked flawlessly. We hold all of our properties in the Golden Triangle, Cherry Creek, and now LoHi.

The Golden Triangle Properties have cash flowed from day 1, and have their future potential as development sites due to us changing the zoning to allow 20 stories of mixed use, the Cherry Creek house is 23 feet wide on a 33 foot lot. The zoning bluk plane starts at 12 feet, our house bulk plane did not start until 27 feet.

We react to neighborhood trends quickly, we always purchase unrenovated/scrape properties and renovate extensively, and my partner just so happens to be one of the top design/zoning experts in the country.

As long as out market continues to grow like it has for my entire lifetime, I don't think it is going to hurt us in Denver

We built my parents new house. 5 bedrooms and the total width is 23'

We only do city infill projects, and scraped a house to build it. You don't even want to know what a piece of 33' dirt goes for in their area.

These are my thoughts exactly. I have yet to have any trouble, and am extremely picky about who I rent to after putting so much blood, sweat and tears into these reno's.

I never would do any work without pulling permits if you ever plan on selling the place.

The liability that comes along with not pulling permits severely outweighs the minor cost/time savings that you would gain.

The last thing I want is a lawsuit 7 years down the road