All Forum Posts by: Kevin Fletcher

I was thinking of selling a 3-plex I have in Denver. I will not be able to reinvest the money for a few months after the property is sold. So, I have a simple question: Where do people keep large sums of money in between projects/Deals? Is it as simple as just keeping it in the checking Account? If it is, are you worried about having these large amounts in one place, at one time? Maybe you have other ways of storing money while keeping it relatively liquid, and available for another deal?

@Bill Coleman Timing is crucial of course, but its way better to sell a little early and miss out on some gains then to be too late and have deal with spiraling prices and no buyers. I think when it falls it will fall fast. So, At the moment I'm trying to decide exactly when to I will sell some of my holdings. I really want to be on the right side of the impending bubble so I can take advantage in the aftermath.

@Thomas Harrelson Also, Ive heard its easier to find "Mentors" with out using the term "Mentor." For example, if you ask someone to be your mentor they may feel like they have to be available constantly to teach you everything and it may be more of a burden than its worth. Especially, if you're not bringing anything to the table for them. So, Id suggest you Learn as much as you can on your own with BIGERPOCKETS, then when you have the basics down. Go to some RE groups and meetups and when you meet some knowledgeable people you get along with, simply ask them if they'd mind if you called them for advice on certain situations. Then they'll feel like they're helping, but not beholden to you.

@Rob Flagg I would invest in this area. I think my strategy would be to account for a little extra money up front to make the place look a little more desirable so it stands out in front of the other nearby units. Then you will have your pick of the better potential tenants that come to the area. This can increase your margins and sweeten the deal in the long run.

@Jay Hinrichs I have a few buddies in the MMJ Dispensary business in Denver. You'd be surprised how many of the warehouses all over the city are filled with plants. I think it is definitely possible to make money renting to MM growers. Growers have to pay an additional premium more than other tenants typically. The landlords have to account for more risk in renting to this type of tenant because of the legal grey areas between state and federal laws. I know someone who has a dispensary, and his business has a triple net lease, is paying higher rent, and had to do significant power upgrades to the building to be able to grow.

And as far as outdoor growing. You have to take into account that you can only really grow in the summer, so that eliminates the majority of the year. That being said, It can still be very worth it. And, there are ways to supplement light, build greenhouses and provide heat for the colder months, but this all cost money. So the land, must have electricity and water to do anything more then a summer grow.

@Cary Goltermann Welcome to BP! I'm sad I missed the Meetup, I'm gonna try and make it next month. Look forward to seeing you around the site.

Property Managers and Leasing agents usually have a pretty good Idea as well. It may be as simple as a price per sq.ft estimate, but to use all of the above resources and you should have a pretty good idea.

Welcome @Jason B. Nice to see you get involved. I'm in Denver as well, If you need anything I can try my best to help

Hello @Valerie Rogers Welcome! I am from Denver as well. Hope to see you around the forums

So... How'd it all go last night