All Forum Posts by: Kevin Fletcher

Hello Everyone, I was just checking to see if anyone was planning on attending the meetup on the 26th of this month. I went to the last meetup and didn't have the fortune of meeting anyone, so I thought Id reach out and check the level of interest.

Welcome to BP! Let me know if you need anything

Haha yeah I think we've all had our biggerpockets binges from time to time, it happens... welcome to BP and let me know if you need anything. I have been a landlord for a few years now and Ive learned a lot here and in practice

Welcome to BP! I'm here If you need any help getting started

@Account Closed  I agree w/ @John Thedford Flipping is a job. Especially at the beginning when you are still trying to get a solid team in place. It can be stressful if you don't have the systems to sustain your business. You end up trying to be the glue to fill every crack, and I think now after doing a few flips that the job of flipping is all about how to manage the unexpected problems that can pop up on you at any minute. I have now been a landlord for 8 years and I'll have to tell you it is much easier. There are problems sure, but a lot fewer. If you still have a W2 job you are probably in a great position to qualify for financing so it'd be smart to take advantage of those low interest rates that banks offer. My first purchase ever was a 3 unit that I lived in for 4 years, now its fully rented and I still think of it as one of the best investment I ever made.

Thanks for Sharing. I also am a trusting person so I can understand how this stuff can happen. I also have been conned out of money and I also am trying to use it as a lesson (expensive though it may be). I will never proceed in business venture before doing back ground checks and contracts.

Hey Josh I know a Commercial broker in Denver that could help. Ill Call him first thing in the morning.

Welcome to BP! Yeah the meetup would be a great place to meet like minds. The idea of investing in other markets is a common theme here in Denver because the high level of competition and diminishing returns. That being said, As Bill said you cant really go wrong by purchasing something because property values are shooting up. 

I am also trying to settle on one other out of state market to farm and and get comfortable with. Ill let you when i have found one worth learning about.

Wow! You got it under contract!!! Congratulations, it looks like a really fun project. I know you'll make that place shine. I cant wait to see the finished product

Thanks @kyle 

@Kyle J. and @Nick Munsee, I have had someone drive by the properties so I'm covered for that. A few are occupied but being that I would have a year to evict or cash for keys to get the tenants out I'm not worried.

My biggest concern is getting clean title. the statutes say that the tax sale wipes out most liens even HOA liens. But the sale will not wipe the special assessments, IRS liens (120 Redemption) and other citations and code violations. I checked title and a few of the properties had $200-1000 dollar liens for past due garbage and water bills. Many off which are added to the tax bill after a period of time.

Some of the margins are potentially still pretty big considering that San Francisco has some of the highest property values in the country. Ill be curious to see what other investors are willing to bid on these properties. I may just lay low and let this one pass but it has definitely peaked my interest.