All Forum Posts by: Kevin Grinstead

Hi Andrew,  Welcome to Colorado. If you find the right land and can get a good solid construction team it could work. I know there was a piece of land just north of Denver that was zoned for multi-family housing. With the growth up here including the Amazon facility and the new outlets there should be lots of potential renters.  

I think the challenge would be how long before you get your money back out. As a long term play, rents are only going up. 

Good Luck. 

Hi Jon, thanks for the info. Very gelpful

Hi Dave, your take on selling now is a great look at the market. Best home sales prices are historically in June. You might be able to get more than asking price and maybe even more than appraised value.  

Once you have the property sold you will have many options with the profit you receive.  There are many different lending programs that can help you protect some of the profit to be used later. 

Personally, I would see if I could take a portion of the remaining funds to buy an out of state rental with great cash flow. 

Hi Justin, welcome to BP. I would look into Ohio or Tennessee with low entry level homes with a great ROI. I am sure there are other states as well. In Colorado it is hard to get a cap rate above 6.5 and the ideal is at least 10.

If you get into a more expensive market you can easily spend the 100k you have just on the down payment with a very long road to get to being financially secure while investing to increase your overall income. 

Good Luck and happy investing!

Hi @Stephen Spradley Welcome to BP and Real Estate.  My advice is to sign on with a company that has loads of training and support like Keller Williams.  As an agent the advice is : 

1. Lead Generate

2. Lead Generate

3. Lead Generate

4. Lead Follow-up 

Never stop lead generating and you will prevent a roller coaster business and income.  

Usually the seller can select a check or a wire transfer to their bank account. One the funds and docs are verified the money is trasferred to the sellers account. It is usually a same day process in Colorado or it could be the next day if the closing is after 5 p.m. 

Hi Nicholas, do you know Adam Adams? He would be a good person that might be able to help you. There is also Dino Pearce that could help you. Both invest heavily in apartment buildings.

Congratulations on your offer. HOA's can make the difference on a property in so many ways. They affect rent prices, sales prices and profitability in a property.

I agree with Matt m. that your Realtor should make sure you get those documents. 

Good Luck with everything.

Hi Simon, 

Sorry for the delay in seeing this post. The rental aspect could be nice for the future once your mortgage is paid off. Do you know your cap rate for your property or about how much are you cashflowing? There are several opportunities in other states that you could own outright and get a good ROI right away. You may also be able to parlay your current investment into a duplex in Colorado or another state as well to increase your ROI.

In my opinion, rental prices in Colorado should continue to be strong. I feel like the appreciation of homes is slowing and will most likely slow down for the forseeable future.  

It might be the right time to get out and get more. 

If your money is not doing enough for you where it is, move it. 

Hi Simon, 

There are some great Property Management Companies here.  The ones I like are below: 

Trinity Team - Keller Williams Preferred Realty

https://www.mytrinityteampm.com/

Or Lark Mountain Group. 

http://www.larkmountain.com/