All Forum Posts by: Roy Leach

Last Buyer fell through so negotiated lower price with Seller!

I've only got a couple days left on my diligence deadline so act fast!

Last Buyer fell through so negotiated lower price with Seller!

I've only got a couple days left on my diligence deadline so act fast!

I just sent you a PM with info I've got.

Thanks!

roy.

Just sent a PM with link to pics.

$185K asking

Leased through Oct 31, 2016 for $1268/mo.

Comps are $230k-$240k

Minor paint touch up on fascia as it it starting to peel.

Built 1922. Nice shape inside.

County Records show 2+1, 647 sq ft.  Addition adds 150 sq ft.  Bed in finished basement makes it 3+1

Long term renter would like to stay.  Lease is up in Oct.

They did new paint inside, new carpet in basement area- 4 months ago.

Spent 1k on repairing the boiler. , and other plumbing items

This is a wholesale deal... Need to find Buyer FAST!

County records say 2 bed, 900 sq ft. However, there is a bedroom addition giving it another 100 sq ft.

Property is in decent shape. Tenant said everything works fine (refrigerator and range). For a flip, probably needs carpet, updated cabinets and inside paint.

Leased through Oct by tenant who has been there for 8 years.

This is a wholesale deal.  Need to find buyer FAST!

Thanks for the response @Scott Trench!  I understand what you're saying, but the Denver market seems to be a tough place to get a foothold.  (Looks like you're from the area too so I'm sure you know what I mean).

Obviously, I need to think through a long term strategy as well as my short term.  My thinking (okay, hoping :) ) is that I can do some wholesaling in ATL to get capital to fund longer term fix & flips and buy and holds locally.

Paying heed to Scott's advice may cause me to rethink.  I guess I should look for a "Remote Investing" forum to get more feedback from other people's experience.  I'd much prefer learning from other people's school of hard knocks than endure it on my own!

Howdy!

I'm Roy from Denver (well, Elizabeth CO, but no one knows where that is!).

I've been interested in real estate investing for some time now. I actually formed an LLC in 2006 for fix & flips, but never did anything with it. I've purchased and renovated several of my own homes. The last one was and REO and my current one I got at auction. I've leveraged them to get cash, but it never seemed enough to do an investment property.

My son kinda forced my hand into finally doing an investment.  He moved out and asked if I could buy a condo for him and his friends to rent.  The Denver market is crazy right now, but we finally found a property and paid full market value for it.  They moved in and everything seemed great.  

Month 2, he came to me and said he hates his roommates and is moving out. So, now I'm a landlord. I hired a property management company and have PCF so I can't complain.

The PCF is kinda cool, so when a traveling seminar came through the area, I went and got suckered in. It's A LOT of money, but this means that either I get off my duff and make this a reality or get divorced :)

One of the things that they said was to read and network.  That's how I stumbled across BP.  There's a lot of info here... it's hard to not spend all of my time reading articles and blogs and call that "Real Estate Investing".  This, along with a few other sites like 

http://www.houseflippingonline.com/House-Flipping-...

are telling me the same thing that the seminar gurus say.  It's nice to see that there are folks out there (such as yourselves) who are trying to help out for free!  (Note, I don't feel that the seminar gurus extorted, suckered me, or forced me to sign up... I did that of my own free will based on the information I had at the time).

So, my biggest challenge is figuring out where to find properties in Denver.  There are TONs of investors and VERY low inventory.  Which brings me back to my title... I'm thinking that starting out investing out of state (Atlanta is where I'm looking) might be the way to go.

Nice to meet everyone... I look forward to sucking your brains to get info to build a successful career and share my knowledge with future newbies!