All Forum Posts by: Scott Trench

Hi All,

Can anyone recommend a good roofing contractor for the Denver Metro area?  I need an estimate for repairs on a duplex in Five Points.

Thanks,

Shneur, 

I have yet to flip - after several months of searching, I found a duplex that I would like to live in and bought it with the intention of renting out one side to a tenant.  

My understanding is that the fix and flip game is tough to break into no matter where you start.  However, I thought that when price to rent ratios are high, maybe flipping could be where the opportunity lies.

Hi @Shneur K. ,

As a newbie in Denver, I will tell you that investing within the ground rules that many BP members try to adhere to is very tough.  There are few properties near the city that you will find that will meet the 2% rule (monthly rents are  greater than or equal to 2% of the purchase price of the property).

In my (admittedly new) opinion, I have found it tough to find properties that fit nicely with a Buy and Hold Mentality.  On the other hand, I'm sure that there are incredible opportunities out there for fix and flips, especially in some of the nicer parts of town where houses are extremely expensive in spite of the fact that they are getting pretty old.

I'd imagine you can do well in either Denver or Houston.  That said, I'd rather live in Denver any day of the week.

I think that agents will be around longer than might be suggested by this thread for two simple reasons:  

1) Buying a FIRST house is usually the biggest financial decision someone makes in their lifetime

2) Every transaction is unique  

I'm going through my first property purchase right now (a duplex - I'll live in half, rent the other half) and even after spending months reading up on things on BP, there are so many details involved with the transaction that I wouldn't know where to begin without an agent.  My agent has explained the financing options available with this property, referenced lenders, referenced contractors and inspectors, compiled and explained the paperwork, arranged showings, and most importantly - held my hand through the process.

I would be very surprised if many people went through their first transaction without an agent, unless they had a friend or REAL PERSON walk them through the nuances of their situation.  I don't care how much you read or research, there is no way to fully prepare for a first purchase ahead of time and feel comfortable doing it for most people.

After I have a couple of properties under my belt, maybe even after this first purchase, I'm sure that I'll be able to handle and understand enough of the process to go it alone, but for this first one (and probably the next few), it's great to have someone that I can go to with those little questions.

@Sean Brooks 

I think you are completely right about blogging not being the greatest tool for SEO.  Effective SEO takes a long time and dedicated effort.  You will get very frustrated with your results if your end goal is to create SEO through blogging alone.

However, there are a number of side benefits to blogging:

1) Visitors to your site that you produce in your ordinary course of business will have a chance to view content that educates them about products and services related to your business and gives them a chance to get to know your company.

2) You will develop knowledge and expertise in the area that you are writing about.  For example, you may study your local market, develop some insights, and spend 20 minutes to format and present those thoughts in a nice little blog post.  This has the dual advantage of educating your audience about something in a related area. I find that this helps you organize your own thoughts.  

3) You will be forced to think about what your customers want to read.  Simply taking the time, a few times per week, to think up great targeted content and present it clearly to your audience will be a huge help in understanding the effectiveness of your marketing campaigns.

In conclusion - I see great value in blogging for many businesses.  In a lot of ways, it can be MORE effective than you think, even though it may not really move you up the chain in Google's Search Engine.

8 - 5 Pretend to work for @Joshua Dorkin 

I thought we were getting a Jennifer?

@Allison Leung @Brandon Turner @Joshua Dorkin 

@Anson Young Thanks - I agree that it will be tough to find something affordable in the BP HQ.  If that is an absolute requirement, however, what do you think that the best way to invest is?

It may simply be that I should find a nice cheaper place to rent out, and purchase a rental out of market.

@Bill Schrimpf  

You make a really good point in the sense that a buy and hold is less likely to cripple me financially on a first time purchase than a fix and flip.  AND that I can wait out a mistake over a longer time period, with monthly cash outflows, instead of owing a huge mortgage with no cashflow.

I think I'm going to take your suggestion and wait for a 2-fourplex to come around.  It's frustrating to have so few options that meet other investor's criteria.  For future purchases I expect to go out of my market to find great cashflow properties.  With my primary residence, however, I need to live close to work.

The money I save from biking to work as opposed to driving is over $100 per month if I live 5 miles away ($0.55/mile*10 miles per day* >20 workdays/month), or even more when I factor in the fact that I can make do with a cheaper car and less insurance.  Because of this, I'm not willing to move farther than about 5 miles away from the office I work at.

Thank you @Scott Nipp

I'll keep my eyes open - I like the open minded attitude.