All Forum Posts by: Luke Miller

Get close to the gulch and I think its an awesome location, but proximity to Broadway makes Athmar a decent place to invest too, @Scott Trench

Hi @Tim Fishback I invest on South Broadway and I am three blocks off of Broadway near Yale. I have a  2br 1b "B class" apartment that rents for $1,350. It's on the lower end and I expect to raise the rent next lease up. Just food for thought.

Hi @Canneton Howard! I was raised in Parker! Good luck with your education. Let men now if I can help.

Luke

I agree @Travis Sperr there are some situations where buying a condo is a good deal. My hesitation is with your last sentence. The legislation "currently" favors buyers. I never want to leave my investments open to such a drastic change in an artificial market. Especially when there is a bipartisan effort to change that law. There is basically one person in the House that is keeping this legislation from passing. Too volatile for my taste. 

Additionally, many of the apartment construction that is currently happening is being built to turn into condos after the 7 years have expired. After 7 years, or very likely sooner with new legislation, there will be a flood of for-sale condos. Those "C" and "D" condos that everyone is finding deals on will be much less desirable when that happens. I think condos could be a good (very) short-term investment, but long term i'm not seeing the ROI.

Maybe I'm overanalyzing the situation, but that is the view that I am seeing based on my day job.
 

What a unique job, James! Sounds like you are well on your way to being a serious investor. Where are your properties in Denver? As @Dan Mackin said, some of us are condo nay sayers. I personally like the idea of condos, but until Colorado gets the construction defect issue solved, the value of condos is too volatile for me. 

Good luck!

It's good to hear the perspective from the wholesaler side. I hadn't thought about much of that. Sounds like it really depends on the market and the individual. 

That's what I figured, @Travis Sperr. Good luck @Jacquelyn Sarpong

Are there wholesalers in Colorado offering detailed rehab quotes from GCs, scope of work, or detailed comps as part of their listings? Most of what I see are very basic rehab numbers and one or two comps. Obviously, not looking for a total pro-forma or due diligence, but something that might help quickly weed out properties would be nice.

I'm not sure if this something anyone offers or maybe I haven't found the right team. 

Hi Beth. I don't think there is anything wrong looking for clients on BP. I invest in long-term rentals in and around the North Englewood, South Denver area.