All Forum Posts by: Kevin T.

Great opportunity on a suburb house. House has had meth smoked with possibly small quantities cooked. Included 25k for meth abatement which few companies have told us is top end which includes demo of home. Newer roof. Not in horrible shape.

Purchase 149.5k

Rehab 120k(extreme)includes abatement

ARV 345k

Est. Gross 75.5k.

Let me know if you have any questions. Thanks!

Kevin 720.636.0439

[email protected]

Home constructed steel frame. Never finished and is virtually a shell. Only showing 3/2 but could be a 6/4 when done. Windows are new. Roof and septic needs to be replace. Already two backup offers more than ours.

Purchase 587.5k

Rehab 200-225k

ARV 1,050,000

Em 10k

Close 1/29

Call/Text/Email me for more questions. Thanks!

Kevin 720-636-0439

[email protected]

Hello,

I just picked up a 1700sqft meth house in the Denver area that I am trying to wholesale. Its a great deal. Just not sure what to tell my investors for rehab, I ve heard all different scenarios. Looking for some advice from someone who has done one.. Worst case scenario? 30-40 grand? Thanks and much appreciated!

Kevin

4/3/2 two bedrooms non-conforming with great storage. New roof just completed! Most of rehab going towards reconfiguring rooms.

Purchase 595k

Rehab 150k

ARV 950k

Est gross profit ......... 205k!

Comps  665 Marion sold at 960k. 3250 finished not modern updates

             551 N Humboldt sold at 994.3k 3304 finished. nice house!

Please Call/text/email for more info

Kevin Thoresen

[email protected]

720-636-0439

Have approved lending set up for this property. They valued ARV at 1.4M!

Estimated Gross Profit 350,500!

Great Applewood home in need of really nice makeover and some serious cleanup on the exterior. Lots of room in the master suite to re-purpose and create nice master bath and closet using current space. Basement needs a 3/4 bath added along with an egress window with space to create the 4th bedroom. Exterior needs some love.

Purchase 375k

Rehab 75k

ARV 545k

Estimated Gross Profit 95k

Call/text/email for more info

Kevin

720-636-0439

Unbelievable Cherry hills Village home on almost an acre lot. Home needs full cosmetic rehab with some minor floor plan adjustment. One additional large item we suggest is a very nice privacy fence with a driveway gate. we estimate about 50k in fence and gates and an additional 200k towards the home.

Purchase 799.5k

Rehab 250k

ARV 1.35M-1.4M

Estimated gross Profit  300k-350k!

Let me know if you have any questions

Kevin

720-636-0439

[email protected]

3/1 rental while you wait for permits for new build. Rent could be 1800-2000 a month. 6250 sq/ft lot. Zoned E-SU-DX. We have comps for new builds ranging from 1.1M to 1.5M in the area.

Purchase 425k
Close 12/30 to 01/07
EM 7500

Please email/call/text for more info. Thanks!

Kevin

720-636-0439

[email protected]

Hi Guys,

Sorry for the late response just got back in town late last night.

So how we come up with our investors price for the property is we do 80/82 percent of the ARV. Then we minus repairs. (ARV X .80/.82 - Repairs = Investors cost.) We want to start with our investors getting 20/18 percent gross profit depending on location.

As for the ARV we find similar REHABBED properties that have sold within the last 6 months, within .5 mile radius trying not to cross any major roads staying within the same neighborhood. We'll break down each individual comp and why we used it.

Our walkthrough rehab estimates are done twice. Once by the Acquiring agent who finds the property and then a final by the GM. We go off a rehab estimate sheet that we our constantly changing due to market demands. All of the major stuff (foundation, roof, major electrical, etc.) we will get bids for. We always add a 10 percent excess misc. contingency, as we always would rather be over than under. For all of our rehab estimates we try and use the comps the best we can, for example if all of the comps have two car garages we're going to recommend putting in a two car garage. Never if not.

Our price of properties range all the way to 800k. Average being 350k -450k. That's where were seeing the best margins as well. If you would like to talk more in detail please let me know. Thanks for the reply!

I work for a wholesale brokerage here in Denver called NetWorth Realty. I buy distressed properties in as-is condition, and sell not assign)the property to you in the same condition. You in turn get in, do the repairs and then put the property back on the market for rent or sale.
If you are familiar with the market here in Denver, you know it is flooded with investors and fairly dry when it comes to distressed property. We have 8 licensed wholesalers out everyday using all methods to acquire new property. We're seeing an average of 10-15 properties a month.
Feel free to contact me at anytime via Call, Text, or Email

Kevin Thoresen / 720-636-0439
Networth Realty of Denver
www.networthrealtyusa.com
2460 W.26th Ave. suite 470-C
Denver, Co 80211