All Forum Posts by: Michael Rodriguez

THANKS @Ernesto Hernandez This is a great check list taht the book didn't offer!  I appreciate you for typing this up!

@Nick Gann howdy Nick

Just caught your post here.

I’ve always been intrigued by DT as a New Yorker.

Trying to learn about scanners now. And started to paper trade on Think or Swim last week

How long have you been DT? I also thought about using proceed to by rentals in TN as well.

As I’m in Denver now I could commit 6-9 am working my daily plan (bell rings at 7:30 here). Just to supplement the 20-30% down payments.

Do you invest in Memphis or Nashville?

Thanks for your initial post.

Mike

@Benton Moss Just came across this family and friends capital raising thread and I see you started this thread 2 years back. Can you share how things went?

Thanks,

MRod

Nice @Terrell Garren Did you do the new construction deal because it was cheaper than trying to get properties?  That's why I am looking at NC.

Thanks for the information @Matt M. and @Steve Morris.

Any other Denver section 8 landlords have a similar scenario to what @Joseph Asamoah does by offering newly remodeled 5+ Bedroom houses for premium rates.  He seems to be able to get north of $5k a month for these in gentrifying neighborhoods in DC. Albeit I haven't seen those rents in urban Denver metro but maybe they exist?

@Shawn Henley

Hi Shawn, I’m thinking of buying a 5bed home for a group home investment in metro Denver.

How’s it working for you thus far? Any concerns?

I really appreciate the posts of  @Jennifer Donley and @Joseph Asamoah around Section 8.

Wondering if any of you can clarify for me the following 2 questions:

Two Big Questions I have before I would move forward

I) Who determines Fair Market Rents (FMR) in these housing authorities? It seems I can charge a rent between 100% of FMR to 140% of FMR it seems. If I buy and rehab a really nice property how do I get assurances I will get 100 to 140%?

II ) Can I get an assurance from one of the housing authority's that if I buy it they will come? More specifically, it seems a cohort of Section 8 voucher holders can move from place to place with that voucher. So how do I connect to those voucher holders?

Thanks, Mike

FYI - Colorado resources I found so far

List of Colorado Public Housing Authority’s https://www.hud.gov/sites/dfiles/PIH/documents/PHA_Contact_Report_CO.pdf

Two resources I found so far 

1) A search engine for Section 8 listings also has fair market rents. I am not sure if these are just generic

http://www.socialserve.com/lan...

2) Denver Housing's Utility reimbursements and Rent's they will pay up to

http://www.denverhousing.org/LWU/section8/Documents/Utility%20Allowance%20Sheet%20%201%201%202021%20with%2010%201%202020%20Payment%20Standards.pdf

Hi @Aaron Murphy

Thanks for posting this open question.  I am feeling exactly the way you are...inventory at discount to old and plagued with problems to bring up to flip expectations.

Looking into new construction luxury build renting rooms.

Did you move forward with any of these scenarios yet?

Thanks,

Michael

Great effort @Clayton Smith.  Thanks for the details.  I am a contractor and want to do a 4br/4ba in Denver Metro.  A suburb off Denver allows up to 5 people not related to live together.  Target=professionals.  

#s are higher here.  One deal I am looking at is $188 for .25 acre plot + $200 construction costs.  @ $388k total with target refi @ $450-500 based on comps and $1100 rents x 4 $4,400 rent.

I just need to get your level of understanding of the banks requirements for LTV and downpayment the local banks will want. Won't have enough cash to buy the property outright for collateral.

Any tips?

Thanks again

MRod

Good point Emillo.  I'll checkout Bluebeam.  Thanks man!