All Forum Posts by: Grant P.

Love it.

If I am in town I will be in attendance this month

I sell quite a few condos in a development near Aurora, with purchase prices between 40-65k using SDIRA and Firstbank.

Get your credit score up and go through firstbank, but I would also hold out for a better deal. You can do far better than the numbers posted. Last deal I sold there was 63k, and rented for $1200, using a SDIRA through Firstbank at 65% LTV

@Scott Graves About $110-120 psf

@Kyle Doney The 600k figure is for a new build single family home near 2000ft. the 250k number is for the dirt.

600k would be Cherry Creek North numbers for a lot that size.

In the Denver neighborhood I concentrate on, we are paying 250-280k for a scrape on a 33ft wide lot, and selling for about 600k, so we are just over 2x what we pay. These things are regional and its wild to see how different everyone's markets are, and how they can still be successful.

I love this site, and how much info everyone is willing to share with the community.

@Craig P. Your $125-140 psf numbers are right on for Denver. A bit cautious, but when I look at new builds I use $120 psf for Denver.

Ignore all the $55psf talk about Denver, its not possible here. If you get creative, you can build quite the place for $120 psf.

Since your talking duplex that will retail for low 200's psf, I assume urban construction near highlands? Sunnyside?

We are not doing single family anymore, but I would be curious what your actual numbers come back at when all said and done. Please keep us posted.

I don't know how your partners are going to collect a 10% commission on the buy side. It will be 2.8% then there brokerages take their cut, and they will be taxed on this income. Realistically they will walk with 5k or less on a sale this size. You will be lucky to cover 2% from their commissions

So really you will be looking at how do I come up with the remaining 18%

Lots of us here from Denver,

Check out the monthly meeting here in Denver.

Sounds like you are motivated. Real estate is a blast.

Good luck and continued success!

We currently have one of our properties on the market that we are selling to medical applications as it is surrounded by the urban hospital campus, and the new hospital surrounding it is almost complete. So it was time to let this one go.

Sounds like a far different application than yours, but this is my first time dealing with a medical application and the concerns that come up with this in mind.

This was a historic renovation that will need to be renovated again for medical application, but we also have both adjacent parking lots, that will allow another 30k sq ft of new construction if desired. The current building is about 18,000 leasable ft. Also this building is LEED gold, currently leased to an architecture firm. A few pictures below.