All Forum Posts by: Grant P.

Hello from another Denver investor.

What is your current interest rate? can you refinance and get a lower rate? If you refinance is your 260k estimate accurate? If you think the appraiser will come up with that number you are right on the cusp of being able to get rid of the PMI now, interest rates are at an all time low so I can't imagine getting a worse rate than you have.

Is their potential for increasing the rent with renovations? I would explore all of you options to maximize the cash flow potential, but also don't just focus on that. Denver is projected to appreciate 6% in the conservative forecasts, thats 15k in gains in the next 12 months. Even if you are "breaking even", you numbers include your total mortgage. How much is going to principal reduction? You don't want include this in your expenses.

If its me in a market like this, I find a way to make this place cash flow and bank on the hot market that economists much smarter than myself are forecasting. The only way I would suggest against it is if you were going to take your profits and plug it right back into a new RE investment of equal value or greater.

I did this on a place I just sold that ended up needing a new roof after the inspection. I told the buyers that I would let them choose the new shingle color, Pending my approval.

As long as it was relatively neutral I didn't care, I try and be neutral with decisions I make, but in reality I like what I like based on my taste. Hard to be objective even when I'm picking the colors.

Welcome from another Denver investor/broker/developer.

I myself got involved in commercial buy and hold investments through my family business. I am currently working on a single family rental here in Denver, however in order to make my numbers look good I am rehabbing the entire property before I rent it. Tough to get the types of returns others on the site get here in Denver without getting a little creative.

Like Anson said check out our monthly meeting. I'm there every month and love the local networking the site provides.

Welcome from another Denver member/Broker.

I decided to become a full time broker about a year ago after I sold a website that had been teasing me by almost being successful for a few years. You will quickly realize how much work starting out as a broker is.

I am now investing in real estate in my spare time, and just started to develop projects, working on my first real development right now.

Make sure you check out our monthly meeting, you missed it this month but try to make it next month. This site is great for local networking.

The garage builder that I use charges 8500 for a 2 car, but after new concrete from garage to alley, electrical, permits etc the total is $10500.

They essentially wont make any changes to their model either, which is fine for a 130k house, but on my nicer houses we design them individually. It takes them 3 days start to finish.

http://www.toolbase.org/Technology-Inventory/Roofs/green-roofs

Welcome from another Denver member.

I just sold a house in Parker for a client that was in exactly the same situation. I wish more people understood that gains and losses are unrealized until you sell.

Welcome and be sure to check out our monthly meeting.

Welcome from another Denver guy.

There are a ton of us from Colorado, and we have been planning a monthly meeting. You just missed this month, but make it to next months for sure.

If you have any question about anything local feel free to message me, I'm always trying to network with people locally. In my opinion Denver is one of the most exciting markets to be in right now. Crazy things happening around here.

Joshua Dorkin I was there last night for about 15 min, and didn't see anyone show up so I went back to work.

I'm happy to help plan it in the future, and I can offer up my conference rooms at 6th and Grant if interested. I think the current location is bad for anyone that is north of the city or in Boulder.

I'm gonna try and stop by tonight, we can all talk about it further.

Don't think Bill understands whats going on here. A transaction coordinator is just a fancy word for assistant that make sure all your contracts get executed. I share a transaction coordinator with a few other brokers in my office, she handles almost everything once I have a place under contract. Her job is not to sell, but rather to coordinate the transaction.

I don't pay her any commission or bonus, but rather a salary. She is there 40 hours a week, and she never runs out of work. I just don't understand why I would pay base+commission if I myself only work for commissions and have no base salary. IMO if you work for me you get one or the other.